Real Estate Market Watch
Market Watch Newsletter - August 2025
Berkshire Hathaway HomeServices PenFed Realty provides this monthly analysis of the real estate market in Sussex County, Delaware. Whether you are buying, selling or just have an interest in the market, we hope you will find this analysis useful.
As a Buyer, this can be a valuable tool for making an offer on a property. Having up-to-date information on selling prices of comparable properties will allow you to make the smartest offer.
As a Seller, having the knowledge to determine the listing price for your property can help you to obtain the best possible sale price in the shortest amount of time.
Contact one of our agents for reliable information on the real estate market. To download the full Market Watch newsletter, click here.
The statistics referenced here and in the attached newsletter are based on detached single-family home sales over the last 12 months compared to the previous 12-month period, and the current YTD compared to the previous YTD. They are derived from the Bright Multiple Listing Service.
Active Listings/Current Inventory
As of the end of August, there were a total of 1,480 homes on the market, an increase of 2.71% from the previous month's end inventory of 1,441; and an increase of 6.40% compared to the inventory at the end of August 2024.
Of the 1,480 homes on the market at the month’s end, 35% of them are new construction homes. The current homes on the market represent more than a 4-month supply of inventory, with a current absorption rate of 352 homes sold per month over the last 12 months.
Closed Sales
For the first eight months of 2025 compared to the same time frame last year, sales of single-family homes are up 2.28%, with 2,695 homes sold YTD through August of 2025 compared to 2,635 sold YTD through August of 2024.
Over the last 12 months, sales are up 9.39% compared to the previous 12-month period, with 4,219 homes sold compared to 3,857 for the previous year.
For resale homes only (new construction excluded): Over the last 12-months sales are up 12.30% compared to the previous 12-month period, with 2,875 homes sold compared to 2,560 for the previous year.
Home Prices
For the first eight months of 2025 YTD compared to the first eight months of 2024 YTD, the average sales price is up by 5.95%, $645,192 compared to $608,956. The median sales price is up by 3.09%, $499,990 compared to $485,000 for the previous period.
Over the last 12-months the average sales price is up 4.33% compared to the previous 12-month period, $643,069 compared to $616,388. The median sales price was up compared to the previous 12-month period, $499,990 compared to $489,000, a 2.25% increase.
For resale homes only (new construction excluded): Over the last 12-months, the average sales price of single-family homes is up 2.89% compared to the previous 12-month period, $636,520 compared to $618,634. The median sales price was up 2.65%, $465,000 compared to $453,000 for the previous period.
Pending Sales
Pending sales (homes that have gone under contract) for the first eight months of 2025 compared to the first eight months of 2024 were down by 9.70%, with 2,568 homes under contract through August 2025 YTD compared to 2,844 through August 2024 YTD.
Over the last 12-months, pending sales were down by 3.26% over the previous 12-month period, with 3,853 homes going under contract, compared to 3,983.
Days on Market
The median days on market for homes to go under contract has increased by 25.0% for homes that have closed YTD through August 2025 (40 days) compared to YTD through August 2024 (32 days).
For the last 12-months compared to the previous 12-month period, the median days on market for these closed homes are 38 days, compared to 31 days during the previous period, a 22.6% increase.