Sussex County Sales Update

According to data from the Sussex County MLS, there were 229 residential sales in July, 2008, compared to 321 in July 2007 - a 29% drop year over year. These sales consisted of 145 single family homes, 59 condos/townhomes and 25 mobile homes

Year to date, there have been 941 single family homes, 389 condos/townhomes, and 153 mobile homes sold in Sussex. Total units sold this year (through July) are 1,483, compared to 2,107 in 2007 - a 30% decrease. The decline in single family homes sold is 28% YTD while condo/townhomes sales are down 34% from last year's pace.

Affordable homes are making up the bulk of the sales in the county. About 30% of single family home sales in Sussex are priced below $200,000 and another 30% are priced from $200,000 to $299,999.

On the higher priced end, here's how sales have broken out YTD:

$300,000 - $399,999 12.4%

$400,000 - $599,999 14.4%

$600,000 - $999,999 8.3%

$1,000,000 + 5.8%

55 single family homes priced over $1 million have sold in 2008 through July.

More details later.