February housing data shows continued buyer caution as prices adjust

Delaware’s housing market continued to reflect cautious buyer activity in February, with declines in sales and pending contracts alongside shifting price trends. While early-year conditions often bring slower activity, recent data suggests ongoing affordability pressures are influencing market behavior.

Statewide, 698 homes were sold in February, a 16 percent decrease compared to February 2025. Pending contracts declined 13 percent year over year, and new listings were down 7 percent. Homes also remained on the market longer, with the average days on market increasing to 54 days, up 7 percent from the same time last year.

Price trends showed some movement in both directions. The statewide median listed price increased more than 5 percent year over year to $421,666, while the median sold price declined nearly 3 percent to $366,481. This shift suggests buyers are responding to pricing pressures while sellers continue to test higher list prices in a constrained inventory environment.

Active inventory increased modestly, up 6 percent from February 2025, though overall housing availability remains limited relative to demand.

“February’s data highlights a market where buyers are being more selective and taking additional time to make decisions,” said Denise Forman Gaines, Delaware Association of Realtors president. “We are seeing adjustments in pricing and continued sensitivity to affordability, which is shaping how both buyers and sellers approach the market.”