The Delaware housing market in February 2025 presents a complex landscape with varying trends across different metrics. The Median Sales Price has increased by 3.7% year-over-year, reaching $352,200. This rise indicates a continued demand for housing, despite other contrasting indicators.

Conversely, the Median List Price has decreased by 3.6% year-over-year, now standing at $337,400. This decline suggests that sellers may be adjusting their expectations in response to market conditions, possibly due to increased inventory levels.

The median Price Per Square Foot has seen a notable increase of 6.9% year-over-year, reaching $198. This growth reflects a strong demand for space, even as the Median List Price per square foot has risen by 3.7% to $200, indicating a willingness among buyers to pay more for desirable properties.

In terms of sales activity, the number of Homes Sold has decreased by 11.1% year-over-year, totaling 464 units. Pending Sales have also declined by 3.7%, with 628 transactions in the pipeline. This reduction in sales activity may be attributed to the increased inventory, which has grown by 12.0% year-over-year to 1,192 units.

The Months of Supply have surged by 60.0% year-over-year, now at 2.60 months. This significant increase suggests a shift towards a more balanced market, where buyers have more options and sellers face increased competition.

The Median Days on Market have slightly decreased by 1.0% year-over-year, now at 42 days. This stability indicates that while homes are taking slightly less time to sell, the market is not experiencing rapid turnover.

The average sale to list ratio has seen a minor decline of 0.2% year-over-year, now at 99.2%. This suggests that homes are selling very close to their list prices, although the proportion of Homes Sold above list price has decreased by 1.9% to 27.6%.

Price Drops have decreased by 1.3% year-over-year, now at 24.5%, indicating that sellers are becoming more realistic with their pricing strategies. Additionally, the percentage of homes going off the market in two weeks has decreased by 1.0% year-over-year, now at 50.3%, suggesting a slight slowdown in buyer urgency.

Overall, the Delaware housing market in February 2025 reflects a period of adjustment, with increased inventory and a more balanced supply-demand dynamic. While prices continue to rise in certain areas, the decrease in sales activity and list prices indicates a market in transition, offering opportunities for both buyers and sellers to navigate the evolving landscape.