Figures from Berkshire Hathaway Home Services Fox & Roach reported lower home sales in April, with the inventory dropping and prices increasing. in two of the state’s three counties.
“Real estate’s spring market has seen a drop in activity, disrupted by COVID-19, with home sales down compared to this time last year,” said BHHS Fox & Roach President Joan Docktor. “With a totally virtual real estate experience in place, we are still seeing a lot of activity and many homes are selling quickly, indicated by the drop in average days on the market.
The number of properties sold in April of 2020, in the 12-county greater Philadelphia region, was down 23.8 percent from this time last year, according to BHHS) Fox & Roach, HomExpert Market Report. The company’s footprint includes the Delaware Valley and Lehigh Valley.
Delaware (Kent and New Castle County figures)
- Total properties sold are down by -9.8 percent, from 845 sold in April 2019 to 762 sold in April 2020. New Castle County had a 10.7 percent decrease in properties sold in April 2020, compared to April 2019.
- Average sale price is up by 10.3 percent, from $228,571 in April 2019 to $252,122 in April 2020. Kent County had an increase of 15 percent.
- Average days on market decreased by -24.8 percent, from 59 days in April 2019 to 44 days in April 2020. The average days on market in New Castle County decreased -32.7 percent.
- Monthly average inventory decreased by -32.3 percent, from 1,858 homes for sale in April 2019 to 1,259 for sale in April 2020. In New Castle County, there were -34 percent fewer homes for sale, and in Kent County, there were -28.3 percent fewer homes for sale.
Berkshire Hathaway Home Services Fox & Roach does not operate in the county.
Figures from Patterson-Schwartz, Delaware’s largest locally-owned residential real estate firm, are as follows:
- Sussex had a 16.1 percent decrease in properties sold in April 2020 at 416 compared to 496 in April 2019.
- The average sales price is up by 5.7 percent, from. $282,850 in April 2019 to $298,937in April 2020.
- The average days on market decreased by 8.2 percent, from 97 days in April 2019 to 89 days in April 2020.
- Monthly average inventory increased by 8.3 percent, from 2,339 homes for sale in April 2019 to 2,532 for sale in April 2020.