Market Update - A Local Perspective

COVID-19 created some challenges and disruptions in 2020, but our local market was amazingly resilient to the initial effects of the pandemic. Real estate became one of the major sustaining forces, nationally and locally, for our economy. Collectively, our market area within DE, PA & MD saw double-digit growth in the number of Closed Sales, Pending Sales and Median Sales Price, compared to 2019. At the same time, Average Days on Market dropped by almost 20%. Below you'll find detailed statistics for more specific parts of our market, as we head into 2021. 

New Castle County, DE

New Castle County  experienced a 2.8% increase in the number of sold homes for the year 2020 compared to 2019 and a 8.8% increase in the median sales price from $239,000 to $260,000. The number of homes that went under contract in 2020 increased 4% from 2019.

Kent County, DE

For the year 2020, Kent County experienced an 13.5% increase in the number of sold homes compared to 2019 and a 8.4% increase in the median sales price from $225,000 to $244,000. The number of homes that went under contract in 2020 increased 17.4% from 2019.

Sussex County, DE

For the year 2020, Sussex County experienced an 24.1% increase in the number of sold homes compared to 2019 and a 12.1% increase in the median sales price from $290,000 to $325,000. The number of homes that went under contract in 2020 increased 26.5% from 2019.

Southern Chester County, PA

Southern Chester County  experienced a 15.1% increase in the number of sold homes in 2020 compared to 2019 and a 7.8% increase in the median price of sold homes, from $385,000 to $415,000. The number of homes that went under contract in 2020 increased 18.7% from 2019.

Cecil County, MD

For 2020, Cecil County experienced a 9.8% increase in the number of sold homes compared to 2019 and an increase in the median sales price of 11.7% from $230,000 to $257,000. The number of homes that went under contract in 2020 increased 7.6% from 2019.

Reports are based on data supplied by Bright MLS.  Bright MLS does not guarantee nor is responsible for its accuracy. Data maintained by an MLS may not reflect all real estate activities in the market. Information is deemed reliable but not guaranteed. 
Data is as of 1/8/2021.


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