WHAT IS THE LOFT REPORT?
Welcome to the Loft Report, your go-to source for the latest insights into the Delaware housing market! If you’re curious about current market trends, changes in the Home Value Index, or simply want to know which areas are the top growers, you’ve come to the right place.
Each month, we break down the latest data into a clear and easy-to-understand format, making it simple for you to stay informed. We know that navigating the housing market can be overwhelming, but don’t worry—we’re here to help.
In this month’s Loft Report, we’ll dive into a detailed county breakdown, exploring the key trends shaping the market in Kent, New Castle, and Sussex. Whether you’re looking to buy, sell, or just stay in the loop, our goal is to keep you up-to-date on what’s happening in your local market. Let’s get started!
DELAWARE BREAKDOWN
DELAWARE BREAKDOWN
This represents the midpoint price of all properties sold in the month of June.
DELAWARE BREAKDOWN
The number of properties under contract but not yet finalized.
43 Days 2023: 39 Days
The average time a property remains listed before being sold.
TOP SCHOOL DISTRICTS IN DELAWARE
TOP 5 SLOWEST MARKETS
TOP 10 SCHOOL DISTRICTS WITH THE HIGHEST HOME PRICES
TOP 10 SCHOOL DISTRICTS WITH THE MOST HOMES LISTED FOR SALE
NEW CASTLE BREAKDOWN
NEW CASTLE COUNTY BREAKDOWN
NEW CASTLE COUNTY BREAKDOWN
HOMES PENDED
2024: 438 2023: 451
The number of properties under contract but not yet finalized.
DAYS ON MARKET NO CHANGE
20 Days 2023: 20 Days
The average time a property remains listed before being sold.
KENT COUNTY BREAKDOWN
(Compared to May of 2023)
KENT COUNTY BREAKDOWN
NEW HOMES IN JULY
KENT COUNTY BREAKDOWN
HOMES PENDED
2024: 178 2023: 184
The number of properties under contract but not yet finalized.
DAYS ON MARKET 30.43% INCREASE
2024: 30 Days 2023: 23 Days
The average time a property remains listed before being sold.
SUSSEX COUNTY BREAKDOWN
(Compared to May of 2023)
SUSSEX COUNTY BREAKDOWN
HOMES SELLING FOR
This represents the midpoint price of all properties sold in the month of June.
This represents the number of new properties listed for sale in the month of June.
The total number of properties sold in the month of June.
HOME VALUE INDEX
NOTABLE AREAS PER COUNTY
SCAN TO VIEW ON GOOGLE MAPS
KENT
HOME IMPROVEMENT COSTS FOR A 1500-2000 SQ. FT. HOME
ROOF REPLACEMENT
$13,500 KITCHEN REMODEL
$6,585 NEW FLOORING
$2.75 per sqft
INTERIOR PAINTING IN-GROUND POOL INSTALLATION WITH SKIRTING FOR HOMES 1500-2000 sq.ft.
$14,900 GRAVITY FED SEPTIC TANK INSTALLATION
$21,392 EXTERIOR SIDING
WHAT WOULD THE MORTGAGE BE?
Using today’s interest rate and a down payment of 5%. The monthly mortgage for a 30 year term would be approximately the following approximately:
MORTGAGE CALCULATOR
MARKET FORECAST
In today’s housing market, as we creep into the middle of summer, we are seeing an increase in supply month over month and year over year. We’re also seeing specifically, above the canal of New Castle County picking up in activity. New Castle County for the last two and a half years specifically, has seen crazy demand with dwindling supply and with not enough homes coming to the market, it has led to price increases across the state we’ll monitor it as supply starts to slowly increase.
Southern Delaware or Sussex County as a whole is booming, with new construction neighborhoods popping up everywhere and areas like Millsboro, Dagsboro, Milton and even Bridgeville are seeing the benefits of the growth that comes from people moving into our state and central Delaware.
Central Delaware, Kent County, not a lot of activity as opposed to our northern and southern county neighbors. With Kent County remaining pretty docile in the demand and supply sectors. Not much has changed year over year, but supply is showing early signs of increasing at a pace similar to Sussex and New Castle. We’ll continue to monitor all of these as we forecast the market for Delaware moving forward.
