View Market Statistics For Sussex County, Delaware

Welcome to the monthly issue of Real Estate Market Watch. As a prospective buyer or seller, you’ll find it to be an extremely useful tool. The statistical analysis contained in this publication will give you valuable market information and trends for real estate in Sussex County, Delaware.

For Buyers, Real Estate Market Watch will be a valuable tool for making an offer on a property. Having up-to-date information on selling prices of comparable homes will allow you to make the smartest offer.

For Sellers, Real Estate Market Watch will afford you the knowledge to determine the listing price for your property, allowing you to obtain the best possible sale price in the shortest amount of time.

Lewes Office 16712 Kings Highway

Lewes, DE 19958

(302) 645-6661

Rehoboth Office 37230 Rehoboth Ave. Ext. Rehoboth Beach, DE 19971

(302) 227-6101

Bethany Office 33292 Coastal Highway #1 Bethany Beach, DE 19930

(302) 537-2616

Current Market Conditions For Sussex County, DE (as of 2/28/2019—based on sales of single-family homes) Total Single Family Homes on the Market as of 2/28/2019 ........... 1,842 1% from last month Inventory Breakdown: Resale Homes—64% New Const.—36% Total Single Family Homes Sold Current Year ................................. 381 Total Single Family Homes Sold Previous Year ............................... 412 % Change in Homes Sold ............................................................... 8% Average Price of Homes Sold Current Year ............................. $422,674 Average Price of Homes Sold Previous Year ........................... $378,884 % Change in Average Price .......................................................... 12% Median Price of Homes Sold Current Year .............................. $313,227 Median Price of Homes Sold Previous Year ............................ $299,945 % Change in Median Price ............................................................. 4% Average Days on Market of Homes Sold Current Year .................... 115 Average Days on Market of Homes Sold Previous Year .................. 125 % Change in Average Days on Market .......................................... 8% Statistics compiled from the Bright Multiple Listing Service, and may not reflect all homes on the market.

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Month Ending February 2019

Bethany, Ocean View, & Fenwick Area (Jan-Feb 2019)

Angola, Long Neck & Millsboro Area (Jan-Feb 2019)

Milton, Harbeson & Broadkill Area (Jan-Feb 2019)

Total Units Sold

2019 ................................... 75

2018 ................................... 69

Average Sales Price

2019 ........................ $801,145

2018 ........................ $670,633

Median Sales Price

2019 ........................ $600,000

2018 ........................ $530,000

Current Active Inventory

Units Active .. 361 Resale Homes ................ 230 New Const. .............. 131

Average List Price ................ $912,737 Median List Price .................. $499,000

Lewes, Rehoboth & Dewey Area (Jan-Feb 2019)

Current Active Inventory

Units Active .. 495 Resale Homes ................ 326 New Const. .............. 169

Average List Price ................ $645,655 Median List Price .................. $409,990

Current Active Inventory

Units Active .. 128 Resale Homes ................... 67 New Const. ................. 61

Average List Price ................ $358,752 Median List Price .................. $329,900

Current Active Inventory

Units Active .. 310 Resale Homes ................ 163 New Const. .............. 147

Average List Price ................ $407,933 Median List Price .................. $342,900

13%

Total Units Sold By Price Range in 2019

Under $100,000 ........................................ 0

$100,000-$200,000 .................................. 0

$200,000-$300,000 .................................. 3

$300,000-$400,000 ............................... 13

$400,000-$500,000 ............................... 13

$500,000-$600,000 .................................. 8

$600,000-$700,000 .................................. 9

$700,000-$800,000 .................................. 8

$800,000-$900,000 .................................. 6

$900,000-$1,000,000 ............................... 3

Over $1,000,000 .................................... 12

Total Units Sold

2019 ................................... 98

2018 ................................. 103

Average Sales Price

2019 ........................ $495,706

2018 ........................ $497,486

Median Sales Price

2019 ........................ $423,443

2018 ........................ $395,000

Total Units Sold By Price Range in 2019

Under $100,000 ........................................ 0

$100,000-$200,000 .................................. 5

$200,000-$300,000 ............................... 18

$300,000-$400,000 ............................... 19

$400,000-$500,000 ............................... 23

$500,000-$600,000 ............................... 13

$600,000-$700,000 .................................. 4

$700,000-$800,000 .................................. 1

$800,000-$900,000 .................................. 7

$900,000-$1,000,000 ............................... 3

Over $1,000,000 ....................................... 5

Total Units Sold

2019 ................................... 52

2018 ................................... 56

Average Sales Price

2019 ........................ $363,653

2018 ........................ $348,528

Median Sales Price

2019 ........................ $302,250

2018 ....................... $307,500

Total Units Sold By Price Range in 2019

Under $100,000 ....................................... 3

$100,000-$200,000 .................................. 6

$200,000-$300,000 ............................... 16

$300,000-$400,000 ............................... 11

$400,000-$500,000 .................................. 9

$500,000-$600,000 .................................. 1

$600,000-$700,000 .................................. 3

$700,000-$800,000 .................................. 0

$800,000-$900,000 .................................. 1

$900,000-$1,000,000 ............................... 0

Over $1,000,000 ....................................... 2

Total Units Sold

2019 ................................. 23

2018 ................................... 20

Average Sales Price

2019 ........................ $265,805

2018 ........................ $300,213

Median Sales Price

2019 ........................ $299,000

2018 ........................ $307,500

Total Units Sold By Price Range in 2019

Under $100,000 ........................................ 3

$100,000-$200,000 .................................. 4

$200,000-$300,000 .................................. 6

$300,000-$400,000 .................................. 8

$400,000-$500,000 .................................. 2

$500,000-$600,000 .................................. 0

$600,000-$700,000 .................................. 0

$700,000-$800,000 .................................. 0

$800,000-$900,000 .................................. 0

$900,000-$1,000,000 ............................... 0

Over $1,000,000 ....................................... 0

7%

7%

4%

2%

15%

11%

3%

12-Month Analysis: New Vs. Pending Listings Bethany, Ocean View & Fenwick Area

12-Month Analysis: New Vs. Pending Listings Angola, Long Neck & Millsboro Area

12-Month Analysis: New Vs. Pending Listings Milton, Harbeson & Broadkill Area

9%

19%

5%

12-Month Analysis: New Vs. Pending Listings Lewes, Rehoboth & Dewey Area

Georgetown Area (Jan-Feb 2019)

Milford, Lincoln & Slaughter Beach Area (Jan-Feb 2019)

Dagsboro & Millsboro Area (Jan-Feb 2019)

Western Sussex County (Jan-Feb 2019)

Current Active Inventory

Units Active ...... 37 Resale Homes ...................27 New Const. ................. 10

Average List Price ................ $288,798 Median List Price ................. $249,000

Current Active Inventory

Units Active ... 146 Resale Homes ...................91 New Const. ................. 55

Average List Price ................ $312,214 Median List Price ................. $262,336

Current Active Inventory

Units Active ... 106 Resale Homes ...................69 New Const. ................. 37

Average List Price ................ $325,611 Median List Price ................. $299,900

Current Active Inventory

Units Active ... 259 Resale Homes ................ 209 New Const. ................. 50

Average List Price ................ $238,504 Median List Price ................. $224,900

Total Units Sold

2019 ..................................... 8

2018 ................................... 11

Average Sales Price

2019 ....................... $220,537

2018 ....................... $192,902

Median Sales Price

2019 ....................... $213,450

2018 ....................... $204,500

Total Units Sold By Price Range in 2019

Under $100,000 ........................................ 0

$100,000-$200,000 .................................. 4

$200,000-$300,000 .................................. 3

$300,000-$400,000 .................................. 0

$400,000-$500,000 .................................. 1

$500,000-$600,000 .................................. 0

$600,000-$700,000 .................................. 0

$700,000-$800,000 .................................. 0

$800,000-$900,000 .................................. 0

$900,000-$1,000,000 .............................. 0

Over $1,000,000 ....................................... 0

Total Units Sold

2019 ................................... 23

2018 ................................... 33

Average Sales Price

2019 ....................... $215,643

2018 ....................... $228,784

Median Sales Price

2019 ....................... $202,000

2018 ....................... $205,000

Total Units Sold By Price Range in 2019

Under $100,000 ........................................ 3

$100,000-$200,000 .................................. 8

$200,000-$300,000 .................................. 7

$300,000-$400,000 .................................. 4

$400,000-$500,000 .................................. 1

$500,000-$600,000 .................................. 0

$600,000-$700,000 .................................. 0

$700,000-$800,000 .................................. 0

$800,000-$900,000 .................................. 0

$900,000-$1,000,000 .............................. 0

Over $1,000,000 ....................................... 0

Total Units Sold

2019 ................................... 16

2018 ................................... 31

Average Sales Price

2019 ....................... $258,534

2018 ....................... $260,337

Median Sales Price

2019 ....................... $257,450

2018 ....................... $255,000

Total Units Sold By Price Range in 2019

Under $100,000 ........................................ 2

$100,000-$200,000 .................................. 3

$200,000-$300,000 .................................. 8

$300,000-$400,000 .................................. 2

$400,000-$500,000 .................................. 0

$500,000-$600,000 .................................. 0

$600,000-$700,000 .................................. 1

$700,000-$800,000 .................................. 0

$800,000-$900,000 .................................. 0

$900,000-$1,000,000 .............................. 0

Over $1,000,000 ....................................... 0

Total Units Sold

2019 .................................. 86

2018 ................................... 89

Average Sales Price

2019 ....................... $191,739

2018 ....................... $172,149

Median Sales Price

2019 ....................... $189,900

2018 ....................... $170,000

Total Units Sold By Price Range in 2019

Under $100,000 ...................................... 13

$100,000-$200,000 ................................ 38

$200,000-$300,000 ................................ 30

$300,000-$400,000 .................................. 3

$400,000-$500,000 .................................. 2

$500,000-$600,000 .................................. 0

$600,000-$700,000 .................................. 0

$700,000-$800,000 .................................. 0

$800,000-$900,000 .................................. 0

$900,000-$1,000,000 .............................. 0

Over $1,000,000 ....................................... 0

27%

14%

4%

30%

2%

1%

48%

1%

1%

3%

11%

12%

12-Month Analysis: New Vs. Pending Listings Georgetown Area

12-Month Analysis: New Vs. Pending Listings Milford, Lincoln & Slaughter Beach Area

12-Month Analysis: New Vs. Pending Listings Dagsboro & Millsboro Area

12-Month Analysis: New Vs. Pending Listings Western Sussex County

What Is My Home Worth In Today’s Market?

Are you thinking about selling and curious about the value of your home?

There are many home-valuation websites that will give you an Automated Valuation Model (AVM). These are prop-erty valuations using mathematical models combined with online property records.

Your most accurate value will be determined by a seasoned real estate professional who is familiar with your local real estate market and has actually viewed comparable homes in your market. For a proper analysis of your home, trust us to provide you with the most accurate details and analysis of your property.

Call us today for a complimentary Comparable Market Analysis (CMA) on your home.

About Berkshire Hathaway HomeServices Gallo Realty

Gallo Realty began as a two-person team in 1979, founded by current owners Sal & Bette Gallo. Since

then, the firm has flourished, growing to over 120 sales associates, rental associates and support staff.

Since 1979, the firm has strived to provide the highest quality customer service: “At Berkshire Hatha-

way HomeServices Gallo Realty, our goal is to exceed the customer’s expectations for reliable service

and professional assistance in selling, buying or renting real estate.”

The majority of our sales and rental associates have lived and worked in our resort area for quite some

time . . . many of whom were raised here, and others who are now raising their children here. As our

growth and success have increased over the years, so has our commitment to our community, which is

visible through our personal volunteerism and financial support of our local schools, charities, the arts

and other organizations.

Community Minded, Customer Focused