Month Ending May 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 5/31/2013) es for homes in my area? Our Market Snapshot program will Total Single Family Homes on the Market as of 5/31/2013 ........... 2,630 answer these and many other questions. 3% 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 ................................. 861 of home that you specify. Total Single Family Homes Sold Previous Year ............................... 796 % Change in Homes Sold ............................................................... 8% To join, visit our website at: Average Price of Homes Sold Current Year ............................. $321,097 www.PruGalloStats.com Average Price of Homes Sold Previous Year ........................... $305,640 % Change in Average Price ............................................................ 5% Median Price of Homes Sold Current Year .............................. $239,450 Median Price of Homes Sold Previous Year ............................ $245,000 % Change in Median Price ............................................................. 2% 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.prugallo.com mobile phone Lewes & Rehoboth Hundred (Jan-May 2013) Lewes/Rehoboth/Dewey Total Units Sold Total Units Sold By Price Range in 2013 Statistics For Homes Sold 2013 ............................... 213 +8% Under $100,000 .................................... 1 2012 ............................... 198 Sussex County, Delaware $100,000-$200,000 ............................ 11 $200,000-$300,000 ............................ 37 Average Sales Price $300,000-$400,000 ............................ 44 All statistics are based on Single Family 2013 ...................... $541,261 +8% $400,000-$500,000 ............................ 59 Homes listed and sold for the period January 2012 ...................... $499,500 $500,000-$600,000 ............................ 18 $600,000-$700,000 .............................. 9 through May, comparing 2013 against the Median Sales Price $700,000-$800,000 .............................. 6 previous year of 2012. $800,000-$900,000 .............................. 5 2013 ...................... $420,000 +6% $900,000-$1,000,000............................ 6 2012 ...................... $397,480 Over $1,000,000 ................................. 17 Statistics were compiled from the Sussex County Association of REALTORS® Multi- Current Active Inventory Units Active ... 424 Low ...................... $57,000 High ......... $7,500,000 ple Listing Service. Average List Price .............. $851,744 Median List Price ............... $542,450 The map of Sussex County, Delaware on the back page of this publication describes Baltimore Hundred (Jan-May 2013) Bethany/Fenwick Area where each Area is located. Total Units Sold Total Units Sold By Price Range in 2013 2013 ............................... 188 +11% Under $100,000 .................................... 9 Explanation of Statistics 2012 ............................... 170 $100,000-$200,000 ............................ 29 $200,000-$300,000 ............................ 49 Units Sold Average Sales Price $300,000-$400,000 ............................ 33 2013 ...................... $381,235 -5% $400,000-$500,000 ............................ 17 The number of single family homes that sold 2012 ...................... $402,407 $500,000-$600,000 ............................ 22 and settled during the time frame specified. $600,000-$700,000 ............................ 18 Median Sales Price $700,000-$800,000 .............................. 3 $800,000-$900,000 .............................. 2 Average Sales Price 2013 ...................... $315,000 +5% $900,000-$1,000,000............................ 1 The average selling price of all single family 2012 ...................... $298,627 Over $1,000,000 ................................... 5 homes that sold and settled during the time Current Active Inventory frame specified. Units Active ... 665 Low ...................... $84,900 High ......... $7,500,000 Average List Price .............. $638,835 Median List Price ............... $429,000 Median Sales Price The median sales price is the point where half of the sold homes were below this point, Indian River Hundred (Jan-May 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 ............................... 112 +27% Under $100,000 .................................... 9 2012 ................................. 88 $100,000-$200,000 ............................ 35 Current Active Inventory $200,000-$300,000 ............................ 27 The number of homes listed on the market Average Sales Price $300,000-$400,000 ............................ 20 for sale as of a specific date. 2013 ...................... $270,745 +14% $400,000-$500,000 ............................ 13 2012 ...................... $237,901 $500,000-$600,000 .............................. 5 $600,000-$700,000 .............................. 2 For more information on these statistics, or Median Sales Price $700,000-$800,000 .............................. 0 $800,000-$900,000 .............................. 0 other statistics in a specific area or market, 2013 ...................... $233,250 +6% $900,000-$1,000,000............................ 1 please contact one of our Sales Professionals 2012 ..................... $220,500 Over $1,000,000 ................................... 0 today. Current Active Inventory Units Active ... 372 Low ...................... $39,000 High ......... $1,800,000 Average List Price .............. $316,870 Median List Price ............... $271,400 Broadkill Hundred (Jan-May 2013) Milton/Harbeson/Broadkill Beach Total Units Sold Total Units Sold By Price Range in 2012 2013 ................................. 55 +6% Under $100,000 .................................... 9 2012 ................................. 52 $100,000-$200,000 ............................ 12 $200,000-$300,000 ............................ 21 Average Sales Price $300,000-$400,000 .............................. 9 2013 ...................... $234,487 -11% $400,000-$500,000 .............................. 2 2012 ...................... $264,895 $500,000-$600,000 .............................. 1 $600,000-$700,000 .............................. 0 Median Sales Price $700,000-$800,000 .............................. 1 $800,000-$900,000 .............................. 0 2013 ...................... $239,000 -13% $900,000-$1,000,000............................ 0 2012 ...................... $273,682 Over $1,000,000 ................................... 0 Current Active Inventory Units Active ... 219 Low ...................... $80,000 High ......... $1,175,000 Average List Price .............. $324,305 Median List Price ............... $275,000 5-Year Analysis Georgetown Hundred (Jan-May 2013) Georgetown Area Total Units Sold Total Units Sold By Price Range in 2012 2013 .................................. 17 -26% Under $100,000 ..................................... 9 2012 .................................. 23 Single-Family Homes Sold in $100,000-$200,000 ............................... 4 Sussex County 2008—2012 $200,000-$300,000 ............................... 4 Average Sales Price $300,000-$400,000 ............................... 0 2013 ....................... $118,884 -25% $400,000-$500,000 ............................... 0 Eastern Sussex County 2012 ....................... $159,242 $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 ......................... $75,000 Units Sales Sales -42% $900,000-$1,000,000 ............................ 0 Year Sold Price Price 2012 ....................... $130,000 Over $1,000,000 ...................................