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 5/31/2019—based on sales of single-family homes) Total Single Family Homes on the Market as of 5/31/2019 ........... 2,066 2% from last month Inventory Breakdown: Resale Homes—74% New Const.—26% Total Single Family Homes Sold Current Year .............................. 1,442 Total Single Family Homes Sold Previous Year ............................ 1,411 % Change in Homes Sold ............................................................... 2% Average Price of Homes Sold Current Year ............................. $395,308 Average Price of Homes Sold Previous Year ........................... $404,340 % Change in Average Price ............................................................ 2% Median Price of Homes Sold Current Year .............................. $290,424 Median Price of Homes Sold Previous Year ............................ $306,000 % Change in Median Price ............................................................. 5% Average Days on Market of Homes Sold Current Year .................... 107 Average Days on Market of Homes Sold Previous Year .................. 125 % Change in Average Days on Market ........................................ 14% Statistics compiled from the Bright Multiple Listing Service, and may not reflect all homes on the market.

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Month Ending May 2019

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

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

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

Total Units Sold

2019 ................................. 275

2018 ................................. 280

Average Sales Price

2019 ........................ $719,984

2018 ........................ $657,792

Median Sales Price

2019 ........................ $565,000

2018 ........................ $505,000

Current Active Inventory

Units Active .. 401 Resale Homes ................ 299 New Const. .............. 102

Average List Price ................ $925,867 Median List Price .................. $525,000

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

Current Active Inventory

Units Active .. 577 Resale Homes ................ 428 New Const. .............. 149

Average List Price ................ $667,145 Median List Price .................. $429,000

Current Active Inventory

Units Active .. 160 Resale Homes ................... 93 New Const. ................. 67

Average List Price ................ $386,483 Median List Price .................. $349,261

Current Active Inventory

Units Active .. 368 Resale Homes ................ 263 New Const. .............. 105

Average List Price ................ $398,134 Median List Price .................. $335,322

12%

Total Units Sold By Price Range in 2019

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

$100,000-$200,000 .................................. 2

$200,000-$300,000 ............................... 17

$300,000-$400,000 ............................... 49

$400,000-$500,000 ............................... 41

$500,000-$600,000 ............................... 46

$600,000-$700,000 ............................... 39

$700,000-$800,000 ............................... 21

$800,000-$900,000 ............................... 14

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

Over $1,000,000 .................................... 40

Total Units Sold

2019 ................................. 360

2018 ................................. 376

Average Sales Price

2019 ........................ $484,196

2018 ........................ $523,320

Median Sales Price

2019 ........................ $389,495

2018 ........................ $420,000

Total Units Sold By Price Range in 2019

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

$100,000-$200,000 ............................... 31

$200,000-$300,000 ............................... 71

$300,000-$400,000 ............................... 83

$400,000-$500,000 ............................... 64

$500,000-$600,000 ............................... 32

$600,000-$700,000 ............................... 14

$700,000-$800,000 ............................... 12

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

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

Over $1,000,000 .................................... 25

Total Units Sold

2019 ................................. 175

2018 ................................. 184

Average Sales Price

2019 ........................ $329,026

2018 ........................ $362,451

Median Sales Price

2019 ........................ $282,000

2018 ....................... $288,450

Total Units Sold By Price Range in 2019

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

$100,000-$200,000 ............................... 33

$200,000-$300,000 ............................... 55

$300,000-$400,000 ............................... 39

$400,000-$500,000 ............................... 20

$500,000-$600,000 .................................. 7

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

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

$800,000-$900,000 .................................. 3

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

Over $1,000,000 ....................................... 4

Total Units Sold

2019 ................................. 96

2018 ................................... 83

Average Sales Price

2019 ........................ $317,251

2018 ........................ $320,224

Median Sales Price

2019 ........................ $315,000

2018 ........................ $318,000

Total Units Sold By Price Range in 2019

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

$100,000-$200,000 ............................... 13

$200,000-$300,000 ............................... 22

$300,000-$400,000 ............................... 41

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

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

$600,000-$700,000 .................................. 2

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

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

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

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

7%

7%

5%

9%

2%

16%

1%

1%

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%

9%

4%

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

Georgetown Area (Jan-May 2019)

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

Dagsboro & Millsboro Area (Jan-May 2019)

Western Sussex County (Jan-May 2019)

Current Active Inventory

Units Active ...... 28 Resale Homes ...................22 New Const. ................... 6

Average List Price ................ $354,753 Median List Price ................. $296,400

Current Active Inventory

Units Active . 1457 Resale Homes ................ 114 New Const. ................. 43

Average List Price ................ $311,207 Median List Price ................. $259,900

Current Active Inventory

Units Active ... 107 Resale Homes ...................82 New Const. ................. 25

Average List Price ................ $332,278 Median List Price ................. $299,900

Current Active Inventory

Units Active ... 268 Resale Homes ................ 222 New Const. ................. 46

Average List Price ................ $253,873 Median List Price ................. $229,900

Total Units Sold

2019 ................................... 35

2018 ................................... 29

Average Sales Price

2019 ....................... $220,842

2018 ....................... $201,456

Median Sales Price

2019 ....................... $213,000

2018 ....................... $215,000

Total Units Sold By Price Range in 2019

Under $100,000 ........................................ 1

$100,000-$200,000 ................................ 14

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

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

$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 ................................. 127

2018 ................................. 113

Average Sales Price

2019 ....................... $225,274

2018 ....................... $214,328

Median Sales Price

2019 ....................... $210,000

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

Total Units Sold By Price Range in 2019

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

$100,000-$200,000 ................................ 44

$200,000-$300,000 ................................ 53

$300,000-$400,000 ................................ 15

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

$500,000-$600,000 .................................. 2

$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 ....................................... 1

Total Units Sold

2019 ................................... 74

2018 ................................... 77

Average Sales Price

2019 ....................... $244,944

2018 ....................... $247,342

Median Sales Price

2019 ....................... $232,500

2018 ....................... $237,500

Total Units Sold By Price Range in 2019

Under $100,000 ........................................ 5

$100,000-$200,000 ................................ 17

$200,000-$300,000 ................................ 39

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

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

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

$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 ................................ 300

2018 ................................. 269

Average Sales Price

2019 ....................... $184,091

2018 ....................... $175,455

Median Sales Price

2019 ....................... $185,000

2018 ....................... $174,900

Total Units Sold By Price Range in 2019

Under $100,000 ...................................... 50

$100,000-$200,000 .............................. 132

$200,000-$300,000 .............................. 102

$300,000-$400,000 ................................ 12

$400,000-$500,000 .................................. 3

$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

21%

10%

1%

12%

5%

4%

1%

2%

12%

5%

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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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.

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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