The Delaware Association of Realtors reported 1,279 homes were sold in August, up 6% from the same time last year.
While sales rose, the association detected signs of buyer hesitation. The average time on market jumped to more than 43 days, a 27 percent increase over August 2024, suggesting that consumers may be taking longer to make buying decisions.
Median home prices held steady. The median sold price reached $386,783, up less than 1 percent year over year, while the median listed price increased to $411,333. The inventory of homes on the market rose 17 percent.
Despite the larger inventory, fewer properties went under contract. Pending sales fell by 10 percent and new listings declined by 7%. While more homes are available, buyer activity is cooling slightly as affordability remains an issue.
“Our members continue to help clients navigate a competitive market with tight inventory and affordability challenges,” said Scott Farnan, president of the Delaware Association of Realtors. “While we are encouraged by the increase in closed sales, the need for more attainable housing options remains top of mind.”
The August report from the National Association of Realtors showed similar trends nationwide, with the Northeast seeing the slowest growth in the inventory of homes for sale, with available homes still fewer in number than in the period before the COVID 19 pandemic.
FreddieMac reported the interest rate on a 30-year mortgage is 6.2%, up slightly from the same period a year ago. Mortgage interest rates don't necessarily follow Federal Reserve interest rate cuts. The widely anticipated rate cut came earlier this month.
A comparison of the August 2024/August 2025 data is provided in the chart below. Count data is available here.
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