Month Ending July 2013
View Market Statistics For Sussex County, Delaware Join Our Real Estate Market Snapshot Welcome to the monthly issue of Real Estate Market Watch. As a prospective buyer Program Today! 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. Have you ever asked yourself the fol-
For Buyers, Real Estate Market Watch will be a valuable tool for making an offer on a lowing questions: property. Having up-to-date information on selling prices of comparable homes will allow you to make the smartest offer. How do actual selling prices com- pare to listing prices in my area? For Sellers, Real Estate Market Watch will afford you the knowledge to determine the How are homes within a 5 mile listing price for your property, allowing you to obtain the best possible sale price in the radius selling? shortest amount of time. How many unsold homes are in my area? Current Market Conditions For Sussex County, DE What are the average selling pric- (as of 7/31/2013) es for homes in my area?
Our Market Snapshot program will Total Single Family Homes on the Market as of 7/31/2013 ...... 2,560 answer these and many other questions. 0% from last month It allows you to receive a weekly report filled with market statistics that are customized for the area and price range Total Single Family Homes Sold Current Year ...... 1,367 of home that you specify. Total Single Family Homes Sold Previous Year ...... 1,240 % Change in Homes Sold ...... 10% To join, visit our website at:
Average Price of Homes Sold Current Year ...... $322,644 www.GoToGallo.com Average Price of Homes Sold Previous Year ...... $306,486 % Change in Average Price ...... 5%
Median Price of Homes Sold Current Year ...... $246,500 Median Price of Homes Sold Previous Year ...... $240,000 % Change in Median Price ...... 3%
For more detailed statistics on specific areas of Sussex County, Delaware, look inside!
Try our website on your Lewes Office Rehoboth Office Bethany Office mobile phone 16712 Kings Highway 37230 Rehoboth Ave. Ext. 33292 Coastal Highway #1 Lewes, DE 19958 Rehoboth Beach, DE 19971 Bethany Beach, DE 19930 Search for any property on (302) 645-6661 (302) 227-6101 (302) 537-2616 (800) 321-3839 (800) 321-2268 (888) 624-6794 the market Find your perfect vacation rental Formatted to work on any www.GoToGallo.com mobile phone Lewes & Rehoboth Hundred (Jan-Jul 2013) Lewes/Rehoboth/Dewey
Total Units Sold Total Units Sold By Price Range in 2013 Statistics For Homes Sold 2013 ...... 319 +7% Under $100,000 ...... 1 2012 ...... 298 Sussex County, Delaware $100,000-$200,000 ...... 18 $200,000-$300,000 ...... 48 Average Sales Price $300,000-$400,000 ...... 71 All statistics are based on Single Family 2013 ...... $543,907 +9% $400,000-$500,000 ...... 84 Homes listed and sold for the period January 2012 ...... $501,156 $500,000-$600,000 ...... 32 $600,000-$700,000 ...... 14 through July, comparing 2013 against the Median Sales Price $700,000-$800,000 ...... 10 previous year of 2012. $800,000-$900,000 ...... 8 2013 ...... $427,500 +8% $900,000-$1,000,000...... 8 2012 ...... $397,480 Over $1,000,000 ...... 25 Statistics were compiled from the Sussex County Association of REALTORS® Multi- Current Active Inventory Units Active ... 396 Low ...... $125,000 High ...... $7,500,000 ple Listing Service. Average List Price ...... $853,335 Median List Price ...... $549,000 The map of Sussex County, Delaware on the back page of this publication describes Baltimore Hundred (Jan-Jul 2013) Bethany/Fenwick Area where each Area is located.
Total Units Sold Total Units Sold By Price Range in 2013 2013 ...... 276 +3% Under $100,000 ...... 9 Explanation of Statistics 2012 ...... 267 $100,000-$200,000 ...... 39
$200,000-$300,000 ...... 77 Units Sold Average Sales Price $300,000-$400,000 ...... 53 2013 ...... $400,433 +1% $400,000-$500,000 ...... 29 The number of single family homes that sold 2012 ...... $395,342 $500,000-$600,000 ...... 30 and settled during the time frame specified. $600,000-$700,000 ...... 20 Median Sales Price $700,000-$800,000 ...... 3 $800,000-$900,000 ...... 3 Average Sales Price 2013 ...... $322,793 +8% $900,000-$1,000,000...... 2 The average selling price of all single family 2012 ...... $300,000 Over $1,000,000 ...... 11 homes that sold and settled during the time Current Active Inventory frame specified. Units Active ... 654 Low ...... $64,900 High ...... $5,500,000 Average List Price ...... $612,518 Median List Price ...... $419,995 Median Sales Price The median sales price is the point where half of the sold homes were below this point, Indian River Hundred (Jan-Jul 2013) Angola/Long Neck/Millsboro and half of the sold homes were above this Total Units Sold Total Units Sold By Price Range in 2012 point. 2013 ...... 191 +23% Under $100,000 ...... 10 2012 ...... 155 $100,000-$200,000 ...... 55 Current Active Inventory $200,000-$300,000 ...... 47 The number of homes listed on the market Average Sales Price $300,000-$400,000 ...... 36 for sale as of a specific date. 2013 ...... $287,896 +15% $400,000-$500,000 ...... 28 2012 ...... $240,272 $500,000-$600,000 ...... 10 $600,000-$700,000 ...... 2 For more information on these statistics, or Median Sales Price $700,000-$800,000 ...... 2 $800,000-$900,000 ...... 0 other statistics in a specific area or market, 2013 ...... $253,000 +19% $900,000-$1,000,000...... 1 please contact one of our Sales Professionals 2012 ...... $212,900 Over $1,000,000 ...... 0 today. Current Active Inventory Units Active ... 367 Low ...... $34,500 High ...... $1,800,000 Average List Price ...... $330,563 Median List Price ...... $280,900 Summary Of Sales Total sales in Sussex County, Delaware through July 31, 2013: Broadkill Hundred (Jan-Jul 2013) Milton/Harbeson/Broadkill Beach Property Type # Of Closed Sales Total Units Sold Total Units Sold By Price Range in 2012 Single Family Homes 1,367 2013 ...... 92 +8% Under $100,000 ...... 10 2012 ...... 85 Condos/Townhomes 529 $100,000-$200,000 ...... 55 Mobile Homes 210 $200,000-$300,000 ...... 47 Average Sales Price $300,000-$400,000 ...... 36 Lots/Land 273 2013 ...... $236,375 -12% $400,000-$500,000 ...... 28 Commercial Properties 33 2012 ...... $268,739 $500,000-$600,000 ...... 10 $600,000-$700,000 ...... 2 Median Sales Price $700,000-$800,000 ...... 2 $800,000-$900,000 ...... 0 2013 ...... $238,567 -13% $900,000-$1,000,000...... 1 2012 ...... $274,460 Over $1,000,000 ...... 0
Current Active Inventory Units Active ... 219 Low ...... $80,000 High ...... $1,145,000 Average List Price ...... $321,158 Median List Price ...... $275,890 5-Year Analysis Georgetown Hundred (Jan-Jul 2013) Georgetown Area Total Units Sold Total Units Sold By Price Range in 2012 2013 ...... 28 -20% Under $100,000 ...... 11 2012 ...... 35 Single-Family Homes Sold in $100,000-$200,000 ...... 11 Sussex County 2008—2012 $200,000-$300,000 ...... 6 Average Sales Price $300,000-$400,000 ...... 0 2013 ...... $131,026 -12% $400,000-$500,000 ...... 0 Eastern Sussex County 2012 ...... $149,387 $500,000-$600,000 ...... 0 $600,000-$700,000 ...... 0 Median Sales Price $700,000-$800,000 ...... 0 Avg. Med. $800,000-$900,000 ...... 0 2013 ...... $135,000 Units Sales Sales +35% $900,000-$1,000,000 ...... 0 Year Sold Price Price 2012 ...... $100,000 Over $1,000,000 ...... 0 2008 1,096 $456,775 $322,750 Current Active Inventory Units Active ..... 74 Low ...... $87,900 High ...... $495,000 2009 1,165 $402,592 $290,000 Average List Price ...... $226,811 Median List Price ...... $199,250 2010 1,252 $406,645 $302,000 Cedar Creek Hundred (Jan-Jul 2013) Milford/Lincoln/Slaughter Beach 2011 1,334 $405,418 $284,950 Total Units Sold Total Units Sold By Price Range in 2012 2012 1,789 $375,384 $280,000 2013 ...... 123 +24% Under $100,000 ...... 17 2012 ...... 99 $100,000-$200,000 ...... 55 $200,000-$300,000 ...... 43 In Eastern Sussex, there has been a Average Sales Price $300,000-$400,000 ...... 5 steady rise in the number of units sold 2013 ...... $192,862 +27% $400,000-$500,000 ...... 1 2012 ...... $151,815 $500,000-$600,000 ...... 1 during the last 5 years, highlighted by a $600,000-$700,000 ...... 0 34% increase from 2011 to 2012. The Median Sales Price $700,000-$800,000 ...... 0 $800,000-$900,000 ...... 0 2013 ...... $185,000 average and median sale prices de- +19% $900,000-$1,000,000 ...... 0 2012 ...... $155,000 creased slightly in 2012, and are still Over $1,000,000 ...... 1 around 13% - 18% lower than the prices Current Active Inventory in 2008. Units Active ... 191 Low ...... $85,000 High ...... $1,599,000 Average List Price ...... $287,082 Median List Price ...... $229,900 Western Sussex County
Avg. Med. Dagsboro Hundred (Jan-Jul 2013) Dagsboro/Millsboro Units Sales Sales Year Sold Price Price Total Units Sold Total Units Sold By Price Range in 2012 2013 ...... 72 +41% Under $100,000 ...... 12 2008 342 $199,343 $180,000 2012 ...... 51 $100,000-$200,000 ...... 34 $200,000-$300,000 ...... 22 2009 317 $174,609 $170,000 Average Sales Price $300,000-$400,000 ...... 3 2013 ...... $179,459 -21% $400,000-$500,000 ...... 1 2010 316 $162,319 $158,500 2012 ...... $226,428 $500,000-$600,000 ...... 0 $600,000-$700,000 ...... 0 2011 361 $156,781 $149,000 Median Sales Price $700,000-$800,000 ...... 0 $800,000-$900,000 ...... 0 2013 ...... $176,178 -12% $900,000-$1,000,000 ...... 0 2012 440 $137,399 $135,000 2012 ...... $199,900 Over $1,000,000 ...... 0
Current Active Inventory In Western Sussex, the units sold in- Units Active ... 173 Low ...... $35,000 High ...... $2,300,000 creased 22% from 2011 to 2012, but the Average List Price ...... $269,434 Median List Price ...... $224,900 average and median sales prices contin- ued to drop, continuing a 5-year trend of Western Sussex County (Jan-Jul 2013) West of Route 113 lower prices for homes sold. Total Units Sold Total Units Sold By Price Range in 2012 2013 ...... 266 All statistics were compiled from the Sussex +6% Under $100,000 ...... 83 2012 ...... 250 County Association of REALTORS Multiple List- $100,000-$200,000 ...... 119 ing Service. $200,000-$300,000 ...... 53 Average Sales Price $300,000-$400,000 ...... 7 2013 ...... $150,310 +13% $400,000-$500,000 ...... 3 Eastern Sussex County comprises properties 2012 ...... $133,002 $500,000-$600,000 ...... 1 located in the following “Hundreds”: $600,000-$700,000 ...... 0 Baltimore, Broadkill, Cedar Creek, Dagsboro, Median Sales Price $700,000-$800,000 ...... 0 $800,000-$900,000 ...... 0 Georgetown, Indian River, Lewes & Rehoboth 2013 ...... $146,700 +13% $900,000-$1,000,000 ...... 0 2012 ...... $129,905 Over $1,000,000 ...... 0 Western Sussex County comprises properties located in the following “Hundreds”: Current Active Inventory Broad Creek, Gumboro, Little Creek, Nanticoke, Units Active ... 486 Low ...... $20,000 High ...... $1,750,000 North West Fork, Seaford Average List Price ...... $200,901 Median List Price ...... $179,450 “HUNDREDS” AREA KEY Lewes and Rehoboth Hundred Baltimore Hundred Sussex County Broadkill Hundred Cedar Creek Hundred Map Indian River Hundred Georgetown Hundred Dagsboro Hundred Western Sussex County
16712 Kings Highway Lewes, DE 19958
37230 Rehoboth Avenue Ext. Rehoboth Beach, DE 19971
33292 Coastal Highway #1 Bethany Beach, DE 19930 TO: ______
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______Your key to real estate market statistics for Sussex County, Delaware