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 11/30/2018—based on sales of single-family homes) Total Single Family Homes on the Market as of 11/30/2018 ......... 1,952 3% from last month Inventory Breakdown: Resale Homes—66% New Const.—34% Total Single Family Homes Sold Current Year .............................. 3,337 Total Single Family Homes Sold Previous Year ............................ 3,301 % Change in Homes Sold ............................................................... 1% Average Price of Homes Sold Current Year ............................. $404,099 Average Price of Homes Sold Previous Year ........................... $378,816 % Change in Average Price ............................................................ 7% Median Price of Homes Sold Current Year .............................. $305,000 Median Price of Homes Sold Previous Year ............................ $286,509 % Change in Median Price ............................................................. 6% Average Days on Market of Homes Sold Current Year .................... 116 Average Days on Market of Homes Sold Previous Year .................. 134 % Change in Average Days on Market ........................................ 13% Statistics compiled from the Bright Multiple Listing Service, and may not reflect all homes on the market.

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Month Ending November 2018

Bethany, Ocean View, & Fenwick Area (Jan-Nov 2018)

Angola, Long Neck & Millsboro Area (Jan-Nov 2018)

Milton, Harbeson & Broadkill Area (Jan-Nov 2018)

Total Units Sold

2018 ................................. 687

2017 ................................. 698

Average Sales Price

2018 ........................ $673,342

2017 ........................ $646,109

Median Sales Price

2018 ........................ $515,000

2017 ........................ $489,240

Current Active Inventory

Units Active .. 399 Resale Homes ................ 275 New Const. .............. 124

Average List Price ................ $897,914 Median List Price .................. $514,900

Lewes, Rehoboth & Dewey Area (Jan-Nov 2018)

Current Active Inventory

Units Active .. 500 Resale Homes ................ 338 New Const. .............. 162

Average List Price ................ $640,593 Median List Price .................. $420,445

Current Active Inventory

Units Active .. 141 Resale Homes ................... 88 New Const. ................. 53

Average List Price ................ $362,766 Median List Price .................. $334,900

Current Active Inventory

Units Active .. 310 Resale Homes ................ 168 New Const. .............. 142

Average List Price ................ $407,915 Median List Price .................. $342,450

5%

Total Units Sold By Price Range in 2018

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

$100,000-$200,000 ............................... 11

$200,000-$300,000 ............................... 60

$300,000-$400,000 ............................. 142

$400,000-$500,000 ............................. 112

$500,000-$600,000 ............................... 95

$600,000-$700,000 ............................... 70

$700,000-$800,000 ............................... 48

$800,000-$900,000 ............................... 18

$900,000-$1,000,000 ............................ 19

Over $1,000,000 .................................. 110

Total Units Sold

2018 ................................. 816

2017 ................................. 705

Average Sales Price

2018 ........................ $507,572

2017 ........................ $481,637

Median Sales Price

2018 ........................ $400,000

2017 ........................ $360,000

Total Units Sold By Price Range in 2018

Under $100,000 ..................................... 12

$100,000-$200,000 ............................... 49

$200,000-$300,000 ............................. 144

$300,000-$400,000 ............................. 202

$400,000-$500,000 ............................. 136

$500,000-$600,000 ............................... 88

$600,000-$700,000 ............................... 51

$700,000-$800,000 ............................... 18

$800,000-$900,000 ............................... 29

$900,000-$1,000,000 ............................ 22

Over $1,000,000 .................................... 65

Total Units Sold

2018 ................................. 453

2017 ................................. 440

Average Sales Price

2018 ........................ $370,408

2017 ........................ $336,510

Median Sales Price

2018 ........................ $295,000

2017 ....................... $290,000

Total Units Sold By Price Range in 2018

Under $100,000 .................................... 10

$100,000-$200,000 ............................... 70

$200,000-$300,000 ............................. 149

$300,000-$400,000 ............................... 88

$400,000-$500,000 ............................... 56

$500,000-$600,000 ............................... 27

$600,000-$700,000 ............................... 16

$700,000-$800,000 ............................... 11

$800,000-$900,000 ............................... 12

$900,000-$1,000,000 ............................... 6

Over $1,000,000 ....................................... 8

Total Units Sold

2018 ............................... 199

2017 ................................. 221

Average Sales Price

2018 ........................ $318,107

2017 ........................ $299,807

Median Sales Price

2018 ........................ $310,000

2017 ........................ $295,000

Total Units Sold By Price Range in 2018

Under $100,000 ........................................ 6

$100,000-$200,000 ............................... 25

$200,000-$300,000 ............................... 56

$300,000-$400,000 ............................... 78

$400,000-$500,000 ............................... 22

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

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

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

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

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

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

5%

11%

3%

10%

2%

10%

6%

5%

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

2%

4%

16%

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

Georgetown Area (Jan-Nov 2018)

Milford, Lincoln & Slaughter Beach Area (Jan-Nov 2018)

Dagsboro & Millsboro Area (Jan-Nov 2018)

Western Sussex County (Jan-Nov 2018)

Current Active Inventory

Units Active ...... 40 Resale Homes ...................23 New Const. ................. 17

Average List Price ................ $285,999 Median List Price ................. $268,450

Current Active Inventory

Units Active ... 161 Resale Homes ...................98 New Const. ................. 63

Average List Price ................ $289,428 Median List Price ................. $249,990

Current Active Inventory

Units Active ... 112 Resale Homes ...................73 New Const. ................. 39

Average List Price ................ $326,105 Median List Price ................. $294,250

Current Active Inventory

Units Active ... 289 Resale Homes ................ 234 New Const. ................. 55

Average List Price ................ $241,054 Median List Price ................. $219,900

Total Units Sold

2018 ................................... 94

2017 ................................... 79

Average Sales Price

2018 ....................... $213,522

2017 ....................... $191,152

Median Sales Price

2018 ....................... $202,250

2017 ....................... $200,000

Total Units Sold By Price Range in 2018

Under $100,000 ...................................... 17

$100,000-$200,000 ................................ 29

$200,000-$300,000 ................................ 28

$300,000-$400,000 ................................ 16

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

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

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

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

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

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

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

Total Units Sold

2018 ................................. 287

2017 ................................. 278

Average Sales Price

2018 ....................... $222,897

2017 ....................... $217,873

Median Sales Price

2018 ....................... $210,000

2017 ....................... $200,500

Total Units Sold By Price Range in 2018

Under $100,000 ...................................... 37

$100,000-$200,000 ................................ 89

$200,000-$300,000 .............................. 125

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

$400,000-$500,000 ................................ 11

$500,000-$600,000 .................................. 3

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

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

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

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

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

Total Units Sold

2018 ................................. 157

2017 ................................. 192

Average Sales Price

2018 ....................... $247,207

2017 ....................... $254,137

Median Sales Price

2018 ....................... $253,305

2017 ....................... $244,800

Total Units Sold By Price Range in 2018

Under $100,000 ........................................ 9

$100,000-$200,000 ................................ 41

$200,000-$300,000 ................................ 60

$300,000-$400,000 ................................ 42

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

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

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

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

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

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

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

Total Units Sold

2018 ................................ 644

2017 ................................. 688

Average Sales Price

2018 ....................... $182,859

2017 ....................... $176,089

Median Sales Price

2018 ....................... $179,900

2017 ....................... $169,450

Total Units Sold By Price Range in 2018

Under $100,000 .................................... 110

$100,000-$200,000 .............................. 274

$200,000-$300,000 .............................. 206

$300,000-$400,000 ................................ 44

$400,000-$500,000 .................................. 7

$500,000-$600,000 .................................. 3

$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

19%

12%

1%

3%

3%

5%

18%

3%

3%

6%

4%

6%

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?

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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