Delaware Real Estate Market May 2022: Forecasts + Trends

Delaware real estate trends (May 2022)

How is the real estate market in Delaware?
🏠 Average home value: $358,686	📈 0.60% home value increase month over month
💰 Median sale price: $342,700	⏳ 54 days on the market
🔑 Homes on the market: 1,692	📆 1.0 months of housing inventory
🏦 30-year mortgage rate: 5.49000%	💵 Average income: 69110
State of the market: B
Delaware’s real estate market seems to be cooling. Although homes are selling relatively quickly in a state with low inventory, home values are starting to level off.
_{Data last updated May 2022}*

There's more to Delaware than meets the eye. The small mid-Atlantic state contains gentle hills, three state forests, and a beachy coast that attracts visitors from across the nation. In fact, Delaware's beaches welcome more than 10 million visitors in a given year, making tourism one of the state's biggest industries.

Beyond the tourist trade, Delaware is a popular retirement destination with plenty of communities that offer a small town charm. Depending on where you live, Delaware offers highly rated public schools and a relatively affordable cost of living for families, too.

If you're thinking of buying or selling in Delaware, these Delaware housing predictions and stats can help you make an informed decision.

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Selling a home in Delaware

Delaware real estate market forecast for sellers
⏰ Homes are selling 36 days slower than the annual average	💰 Homes are selling for $29,224 more than the annual average
💸 Average listing commission: 2.72%	💸 Average buyer's commission: 2.72%

How to sell a home in Delaware

Cost to sell a home in Delaware

The Ultimate Guide to Delaware Real Estate Taxes

Buying a home in Delaware

How much home you can buy with $300,000 in...
🏠 Dover: 1,613 sq ft

Investing in Delaware real estate

Best of Delaware

Each month, we compare locations in Delaware based on different criteria. This month, we're looking at levels of happiness and ranking the best counties in the state.

Happiest Counties in Delaware
1. New Castle County
2. Sussex County

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Worst of Delaware

Each month, we compare locations in Delaware based on a different criteria. This month we're looking at levels of happiness data. These are the counties that ranked the worst in the state.

Least Happy Counties in Delaware
1. Kent County

Delaware resources

Frequently asked questions about Delaware real estate

It is currently a seller’s market in Delaware, but the market is cooling off. While there aren't a lot of homes on the market, the properties that are are starting to sit for longer and sell for less. However, each city and town in the state is different, so it’s crucial to get the input of a real estate agent to understand the trends in your particular area.

Delaware is a good state to invest in, especially in bigger cities like Wilmington and Dover, where people are always looking for housing. But if you want to make the most out of your investment, you have to first find the best neighborhoods to buy in and then create a detailed plan on how to manage the property you buy. Check out our guide to real estate investing to find out more.

For some buyers, it is a good time to buy a house in Delaware. Although listing prices are a bit higher than normal, the final sales price is often much lower, meaning sellers are willing to accept lower offers. Add that to the low mortgage rates in the state, and could get a great deal. For the best results, you should work with one of the top real estate agents in the state.

Methodology

Clever's analysis of state market trends is based on local data from Zillow, realtor.com, Redfin, Bankrate, the U.S. Census, and Clever surveys. Our team of over 20 real estate analysts from across the country research local markets and data to compile our "Best" and "Worst" rankings.

Delaware Real Estate Market in 2021: Forecasts + Trends