Lewes-area home sales on increase
A real estate market analysis for 2023 completed by The Lee Ann Wilkinson Group in Lewes shows the market for new homes continues to be strong.
Last year, 475 properties were sold in the Lewes area, including 57 on Lewes Beach, 121 in Lewes limits, 175 east of Route 1 in ZIP code 19958 and 117 in new communities. That’s an increase from 372 properties sold in 2022.
The average price for homes sold on Lewes Beach was $1.8 million (increase from $1.6 million in 2022), and for condominiums, $726,900.
The average prices for all properties sold within Lewes limits: homes, $1 million (increase of $45,000 from 2022); condos/townhomes, $734,750; and lots, $493,557.
The average prices east of Route 1 in Lewes ZIP code: homes, $946,196 (increase of $86,000 from 2022); condos/townhomes, $455,205; and lots, $470,000.
In new communities: homes sold for an average of $948,049; condos/townhomes for $618,216; and lots for $549,900.
In 2023, single-family homes on Lewes Beach ranged from $610,000 to $4.2 million. Lewes Beach condos/townhomes ranged from $507,000 to $950,000.
For homes within Lewes city limits (other than Lewes Beach), single-family homes ranged from $505,000 to $2.69 million; condos/townhomes ranged from $505,000 to $1.568 million. In-town lots ranged from $399,900 to $650,000.
East of Route 1
In the Lewes area east of Route 1 in the Lewes ZIP code, single-family home sales ranged from $350,000 to $2.395 million. Condo/townhome sales in the same area ranged from $705,000 to $775,000.
In new communities, average cost of home sales ranged from $699,000 in Tower Hill to $1.3 million in Governors.
Most homes were sold in Governors, off Gills Neck Road, with nearly all of the 43 homes in the subdivision sold at least at list price and most exceeding the list price.
Condos/townhome sales ranged from $470,000 in Lewes Crest to $755,140 in Lewes Waterfront Preserve. Lot sales in Olde Town ranged from $404,900 to $799,900.
Throughout Sussex
According to realtor.com, throughout Sussex County, new median home prices range from $300,000 in Laurel to $1.2 million in Bethany Beach.
Median prices include Bethany Beach – $1.2 million; Rehoboth Beach – $902,500; Lewes – $595,000; Ocean View – $587,400; Harbeson, $574,400; Milton – $549,500; Millsboro – $475,000; Georgetown – $475,000; Long Neck – $410,000; Seaford – $349,000; and Laurel – $300,000.
According to Long & Foster Market Minute, in January, in the county, 271 units were sold, up 3% from last year; inventory of 1,280 was up 4%; median sales price was $499,990; days on market of 59 was up 20%.
