Housing market sees increase in inventory, but listed prices dip
Delaware’s housing market continued its early-year momentum in March with rising home sales, increased inventory and a higher median sold price. However, a drop in median list prices and a slowdown in pending sales signal that affordability and buyer caution remain key market factors, according to the latest data from the Delaware Association of Realtors.
Statewide, units sold rose by 2 percent, reaching 1,008 compared to 993 in March 2024. The median sold price increased by 3.02 percent to $380,333, while the median listed price declined by 5.69 percent to $389,648, reflecting market adjustments as sellers respond to affordability pressures.
Active inventory grew by 24 percent, reaching 3,794 listings, up from 3,066 a year ago, providing more options for buyers. However, pending units decreased by 4 percent, and homes spent more time on the market, with the average days on market increasing by 21 percent to nearly 50 days.
“We’re seeing more listings and a steady pace of sales, but price sensitivity continues to shape buyer behavior,” said Scott Farnan, president of the Delaware Association of Realtors. “While the median sold price continues to climb, the drop in list prices shows sellers adjusting expectations to meet the market. It’s a reminder that long-term solutions, like the 1 Percent for Housing campaign, are needed to expand affordable housing options and address ongoing supply gaps.”
The 1% for Housing initiative calls on Delaware to dedicate 1 percent of its state budget to support affordable housing solutions. To learn more, visit onepercentforhousing.org.
