real estate market watch
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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 3/31/2021—based on sales of single-family detached homes) Total Single Family Homes on the Market as of 3/31/2021 .............. 646
1% from last month Homes listed in March 2021 .............. 505 (73% already under contract) Inventory Breakdown: Resale Homes—54% New Const.—46% Total Single Family Homes Sold Current Year ................................. 995 Total Single Family Homes Sold Previous Year ............................... 877
% Change in Homes Sold ............................................................ 13% Average Price of Homes Sold Current Year ............................. $494,189 Average Price of Homes Sold Previous Year ........................... $411,567
% Change in Average Price ......................................................... 20% Median Price of Homes Sold Current Year .............................. $362,490 Median Price of Homes Sold Previous Year ............................ $320,000
% Change in Median Price .......................................................... 13% Average Days on Market of Homes Sold Current Year ...................... 57 Average Days on Market of Homes Sold Previous Year .................... 89
% Change in Average Days on Market ....................................... 36% Statistics compiled from the Bright Multiple Listing Service, and may not reflect all homes on the market.
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Real Estate Market Watch
It’s our belief that real estate decisions are primarily made in response to life events that trigger significant changes in living requirements. Through our Real Estate Planning and Lifestyle Guide, we propose a more strategic planning process to help consumers organize their thoughts and pinpoint their real estate priorities in advance of life’s ongoing changes.
The guide helps people assess their present and future lifestyles and the
considerations for life stages, such as renting vs. buying, considering move-
up opportunities, moving with children and pets, downsizing by design, transi-tioning with multigenerational and spe-
cial needs family members, and stag-ing/merchandising your home. It helps
them manage the inevitable uncertain-ties that may cause them to change
their real estate holdings, and to better prepare for the related decisions.
The guide also includes steps to identi-
fy and set lifestyle planning goals and to memorialize all in a lifestyle plan.
To receive a copy of the Real Estate and Lifestyle Planning Guide contact one of our agents, or visit our website.
Real Estate
and Lifestyle
Planning Guide
Month Ending March 2021
Bethany, Ocean View, & Fenwick Area (Jan-Feb 2021)
Angola, Long Neck & Millsboro Area (Jan-Feb 2021)
Milton, Harbeson & Broadkill Area (Jan-Feb 2021)
Total Units Sold
2020 ................................. 218
2019 ................................. 199
Average Sales Price
2020 ........................ $851,009
2019 ........................ $659,063
Median Sales Price
2020 ........................ $641,621
2019 ........................ $580,000
Current Active Inventory
Units Active .. 139 Resale Homes ................... 55 New Const. ................. 84
Average List Price ................ $911,333 Median List Price .................. $549,900
Lewes, Rehoboth & Dewey Area (Jan-Feb 2021)
Current Active Inventory
Units Active .. 102 Resale Homes ................... 84 New Const. ................. 18
Average List Price ............. $1,051,569 Median List Price .................. $575,000
Current Active Inventory
Units Active ..... 38 Resale Homes ................... 29 New Const. .................... 9
Average List Price ................ $470,353 Median List Price .................. $389,445
Current Active Inventory
Units Active .. 157 Resale Homes ................... 53 New Const. .............. 104
Average List Price ................ $531,609 Median List Price .................. $439,900
11%
Total Units Sold By Price Range in 2021
Under $100,000 ........................................ 0
$100,000-$200,000 .................................. 4
$200,000-$300,000 .................................. 8
$300,000-$400,000 ............................... 21
$400,000-$500,000 ............................... 29
$500,000-$600,000 ............................... 27
$600,000-$700,000 ............................... 41
$700,000-$800,000 ............................... 18
$800,000-$900,000 .................................. 8
$900,000-$1,000,000 ............................... 9
Over $1,000,000 .................................... 53
Total Units Sold
2020 ................................. 206
2019 ................................. 176
Average Sales Price
2020 ........................ $629,196
2019 ........................ $511,683
Median Sales Price
2020 ........................ $460,995
2019 ........................ $379,000
Total Units Sold By Price Range in 2021
Under $100,000 ........................................ 2
$100,000-$200,000 ............................... 12
$200,000-$300,000 ............................... 26
$300,000-$400,000 ............................... 33
$400,000-$500,000 ............................... 43
$500,000-$600,000 ............................... 27
$600,000-$700,000 ............................... 17
$700,000-$800,000 .................................. 5
$800,000-$900,000 .................................. 4
$900,000-$1,000,000 ............................... 6
Over $1,000,000 .................................... 31
Total Units Sold
2020 ................................. 149
2019 ................................. 113
Average Sales Price
2020 ........................ $389,499
2019 ........................ $355,528
Median Sales Price
2020 ........................ $360,000
2019 ....................... $310,000
Total Units Sold By Price Range in 2021
Under $100,000 ....................................... 4
$100,000-$200,000 ............................... 10
$200,000-$300,000 ............................... 30
$300,000-$400,000 ............................... 48
$400,000-$500,000 ............................... 24
$500,000-$600,000 ............................... 16
$600,000-$700,000 .................................. 9
$700,000-$800,000 .................................. 6
$800,000-$900,000 .................................. 0
$900,000-$1,000,000 ............................... 0
Over $1,000,000 ....................................... 2
Total Units Sold
2020 ................................. 59
2019 ................................... 59
Average Sales Price
2020 ........................ $399,131
2019 ........................ $362,465
Median Sales Price
2020 ........................ $375,000
2019 ........................ $331,990
Total Units Sold By Price Range in 2021
Under $100,000 ........................................ 0
$100,000-$200,000 .................................. 3
$200,000-$300,000 ............................... 14
$300,000-$400,000 ............................... 20
$400,000-$500,000 ............................... 12
$500,000-$600,000 .................................. 6
$600,000-$700,000 .................................. 1
$700,000-$800,000 .................................. 2
$800,000-$900,000 .................................. 0
$900,000-$1,000,000 ............................... 0
Over $1,000,000 ....................................... 1
23%
22%
32%
10%
0%
10%
13%
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
10%
29%
17%
12-Month Analysis: New Vs. Pending Listings Lewes, Rehoboth & Dewey Area
16%
Georgetown Area (Jan-Feb 2021)
Milford, Lincoln & Slaughter Beach Area (Jan-Feb 2021)
Dagsboro & Millsboro Area (Jan-Feb 2021)
Western Sussex County (Jan-Feb 2021)
Current Active Inventory
Units Active ...... 45 Resale Homes ...................14 New Const. ................. 31
Average List Price ................ $364,691 Median List Price ................. $347,400
Current Active Inventory
Units Active ...... 37 Resale Homes ...................20 New Const. ................. 17
Average List Price ................ $407,179 Median List Price ................. $358,900
Current Active Inventory
Units Active ...... 24 Resale Homes ...................16 New Const. ................... 8
Average List Price ................ $336,646 Median List Price ................. $346,950
Current Active Inventory
Units Active ... 104 Resale Homes ...................78 New Const. ................. 26
Average List Price ................ $288,439 Median List Price ................. $269,900
Total Units Sold
2020 ................................... 29
2019 ................................... 17
Average Sales Price
2020 ....................... $308,729
2019 ....................... $274,765
Median Sales Price
2020 ....................... $255,000
2019 ....................... $252,000
Total Units Sold By Price Range in 2021
Under $100,000 ........................................ 2
$100,000-$200,000 .................................. 4
$200,000-$300,000 ................................ 12
$300,000-$400,000 .................................. 4
$400,000-$500,000 .................................. 3
$500,000-$600,000 .................................. 1
$600,000-$700,000 .................................. 3
$700,000-$800,000 .................................. 0
$800,000-$900,000 .................................. 0
$900,000-$1,000,000 .............................. 0
Over $1,000,000 ....................................... 0
Total Units Sold
2020 ................................... 72
2019 ................................... 89
Average Sales Price
2020 ....................... $272,544
2019 ....................... $265,517
Median Sales Price
2020 ....................... $255,000
2019 ....................... $245,000
Total Units Sold By Price Range in 2021
Under $100,000 ........................................ 2
$100,000-$200,000 ................................ 19
$200,000-$300,000 ................................ 26
$300,000-$400,000 ................................ 16
$400,000-$500,000 .................................. 7
$500,000-$600,000 .................................. 0
$600,000-$700,000 .................................. 0
$700,000-$800,000 .................................. 2
$800,000-$900,000 .................................. 0
$900,000-$1,000,000 .............................. 0
Over $1,000,000 ....................................... 0
Total Units Sold
2020 ................................... 57
2019 ................................... 58
Average Sales Price
2020 ....................... $268,554
2019 ....................... $275,916
Median Sales Price
2020 ....................... $262,000
2019 ....................... $275,450
Total Units Sold By Price Range in 2021
Under $100,000 ........................................ 3
$100,000-$200,000 ................................ 12
$200,000-$300,000 ................................ 21
$300,000-$400,000 ................................ 18
$400,000-$500,000 .................................. 3
$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
2020 ................................ 205
2019 ................................. 166
Average Sales Price
2020 ....................... $249,343
2019 ....................... $204,034
Median Sales Price
2020 ....................... $235,000
2019 ....................... $195,000
Total Units Sold By Price Range in 2021
Under $100,000 ...................................... 11
$100,000-$200,000 ................................ 50
$200,000-$300,000 .............................. 101
$300,000-$400,000 ................................ 33
$400,000-$500,000 .................................. 4
$500,000-$600,000 .................................. 3
$600,000-$700,000 .................................. 0
$700,000-$800,000 .................................. 1
$800,000-$900,000 .................................. 2
$900,000-$1,000,000 .............................. 0
Over $1,000,000 ....................................... 0
71%
12%
1%
19%
3%
4%
2%
3%
5%
23%
22%
21%
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.