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The Delaware housing market continues to show signs of a slowdown in May with a sharp increase in average days on the market, the Delaware Association of Realtors reported.
According to a report, the average days on market rose by 87%. “This shift reflects evolving dynamics and provides buyers with more time to explore their options and make informed decisions,” a release from the association stated.
Despite a decrease in new listings and units sold, the market remains resilient, DAR reportred.
The median listed price and median sold price showed increases.
Potential homebuyers are now facing higher interest rates aimed at reducing inflation.
A comparison of the May 2022/May 2023 data is provided in the accompanying graphic. For county data, click here.