Month Ending October 2012

View Market Statistics For Sussex County, Delaware

Welcome to the monthly issue of Real Estate Market Watch. As a prospective buyer
or seller, youll 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.

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Real Estate Market Snapshot
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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.

Current Market Conditions For Sussex County, DE

(as of 10/31/2012)
Total Single Family Homes on the Market as of 10/31/2012 ......... 2,502
4% from last month
Total Single Family Homes Sold Current Year .............................. 1,814
Total Single Family Homes Sold Previous Year ............................ 1,407
% Change in Homes Sold ............................................................. 29%
Average Price of Homes Sold Current Year............................. $320,912
Average Price of Homes Sold Previous Year ........................... $355,507
% Change in Average Price .......................................................... 10%

How do actual selling prices compare to listing prices in my area?

How are homes within a 5 mile
radius selling?
How many unsold homes are in my
area?
What are the average selling prices for homes in my area?

Our Market Snapshot program will

answer these and many other questions.
It allows you to receive a weekly report
filled with market statistics that are
customized for the area and price range
of home that you specify.
To join, visit our website at:

www.PruGalloStats.com

Median Price of Homes Sold Current Year .............................. $240,000

Median Price of Homes Sold Previous Year ............................ $244,900
% Change in Median Price ............................................................. 2%
For more detailed statistics on specific areas of Sussex County,
Delaware, look inside!
Lewes Office

Rehoboth Office

Bethany Office

16712 Kings Highway

Lewes, DE 19958
(302) 645-6661
(800) 321-3839

37230 Rehoboth Ave. Ext.

Rehoboth Beach, DE 19971
(302) 227-6101
(800) 321-2268

33292 Coastal Highway #1

Bethany Beach, DE 19930
(302) 537-2616
(888) 624-6794

www.prugallo.com

Weve just made searching for

real estate real easy
Our FREE mobile app allows you
to search EVERY property for sale
in Sussex County on your phone

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Text: GALLO To: 87778

Lewes & Rehoboth Hundred (Jan-Oct 2012) Lewes/Rehoboth/Dewey

Total Units Sold
2012 ............................... 418
2011 ............................... 319

Total Units Sold By Price Range in 2012

+31%

Average Sales Price

2012 ...................... $518,254
2011 ...................... $563,577

-8%

Median Sales Price

2012 ...................... $401,569
2011 ...................... $413,520

-3%

Under $100,000 .................................... 4

$100,000-$200,000 ............................ 25
$200,000-$300,000 ............................ 81
$300,000-$400,000 ............................ 93
$400,000-$500,000 ............................ 72
$500,000-$600,000 ............................ 44
$600,000-$700,000 ............................ 22
$700,000-$800,000 ............................ 22
$800,000-$900,000 ............................ 11
$900,000-$1,000,000............................ 7
Over $1,000,000 ................................. 37

Current Active Inventory

Units Active ... 453
Low ...................... $94,000
High ....... $10,000,000
Average List Price .............. $853,551
Median List Price ............... $525,900

Baltimore Hundred (Jan-Oct 2012)

Total Units Sold
2012 ............................... 414
2011 ............................... 304

Bethany/Fenwick Area

Total Units Sold By Price Range in 2012

+36%

Average Sales Price

2012 ...................... $440,501
2011 ...................... $540,983

-19%

Median Sales Price

2012 ...................... $319,500
2011 ...................... $347,500

-8%

Under $100,000 .................................. 13

$100,000-$200,000 ............................ 64
$200,000-$300,000 .......................... 117
$300,000-$400,000 ............................ 73
$400,000-$500,000 ............................ 54
$500,000-$600,000 ............................ 26
$600,000-$700,000 ............................ 12
$700,000-$800,000 ............................ 15
$800,000-$900,000 ............................ 10
$900,000-$1,000,000............................ 4
Over $1,000,000 ................................. 26

Current Active Inventory

Units Active ... 593
Low ...................... $79,900
High ....... $10,000,000
Average List Price .............. $610,087
Median List Price ............... $399,900

Indian River Hundred (Jan-Oct 2012)

Total Units Sold
2012 ............................... 231
2011 ............................... 172

+34%

Average Sales Price

2012 ...................... $249,037
2011 ...................... $265,910

-6%

Median Sales Price

2012 ...................... $222,900
2011 ...................... $225,000

-1%

Angola/Long Neck/Millsboro

Total Units Sold By Price Range in 2012

Under $100,000 .................................. 19
$100,000-$200,000 ............................ 73
$200,000-$300,000 ............................ 73
$300,000-$400,000 ............................ 41
$400,000-$500,000 ............................ 15
$500,000-$600,000 .............................. 5
$600,000-$700,000 .............................. 3
$700,000-$800,000 .............................. 1
$800,000-$900,000 .............................. 0
$900,000-$1,000,000............................ 0
Over $1,000,000 ................................... 1

Current Active Inventory

Units Active ... 319
Low ...................... $39,000
High ......... $2,300,000
Average List Price .............. $316,077
Median List Price ............... $259,900

Broadkill Hundred (Jan-Oct 2012)

Total Units Sold
2012 ............................... 117
2011 ................................. 96

+22%

Average Sales Price

2012 ...................... $259,392
2011 ...................... $267,835

-3%

Median Sales Price

2012 ...................... $270,000
2011 ...................... $246,458

+10%

Milton/Harbeson/Broadkill Beach

Total Units Sold By Price Range in 2012

Under $100,000 .................................... 7
$100,000-$200,000 ............................ 25
$200,000-$300,000 ............................ 50
$300,000-$400,000 ............................ 26
$400,000-$500,000 .............................. 6
$500,000-$600,000 .............................. 1
$600,000-$700,000 .............................. 1
$700,000-$800,000 .............................. 1
$800,000-$900,000 .............................. 0
$900,000-$1,000,000............................ 0
Over $1,000,000 ................................... 0

Current Active Inventory

Units Active ... 180
Low ...................... $55,233
High ......... $1,145,000
Average List Price .............. $305,827
Median List Price ............... $252,900

Statistics For Homes Sold

Sussex County, Delaware
All statistics are based on Single Family
Homes listed and sold for the period January
through October, comparing 2012 against the
previous year of 2011.
Statistics were compiled from the Sussex
County Association of REALTORS Multiple Listing Service.
The map of Sussex County, Delaware on the
back page of this publication describes
where each Area is located.

Explanation of Statistics
Units Sold
The number of single family homes that sold
and settled during the time frame specified.
Average Sales Price
The average selling price of all single family
homes that sold and settled during the time
frame specified.
Median Sales Price
The median sales price is the point where
half of the sold homes were below this point,
and half of the sold homes were above this
point.
Current Active Inventory
The number of homes listed on the market
for sale as of a specific date.
For more information on these statistics, or
other statistics in a specific area or market,
please contact one of our Sales Professionals
today.

5-Year Analysis

Georgetown Hundred (Jan-Oct 2012)

Single-Family Homes Sold in

Sussex County 20072011
Eastern Sussex County
Avg.
Sales
Price

Med.
Sales
Price

Year

Units
Sold

2007

1,534

$484,415 $355,000

2008

1,096

$456,775 $322,750

2009

1,165

$402,592 $290,000

2010

1,252

$406,645 $302,000

2011

1,334

$405,418 $284,950

In Eastern Sussex, there has been a

steady rise in the number of units sold
during the last 3 years, with about a 22%
increase in units sold per year since the
low point of 2008. The average and median sale prices decreased slightly in
2011, and are still around 15% - 20%
lower than the prices in 2007.
Western Sussex County

Year

Units
Sold

Avg.
Sales
Price

Med.
Sales
Price

2007

437

$213,816 $199,500

2008

342

$199,343 $180,000

2009

317

$174,609 $170,000

2010

316

$162,319 $158,500

2011

361

$156,781 $149,000

In Western Sussex, the units sold increased 14% from 2010 to 2011, but the
average and median sales prices continued to drop, continuing a 5-year trend of
lower prices for homes sold.
All statistics were compiled from the Sussex
County Association of REALTORS Multiple Listing Service.
Eastern Sussex County comprises properties
located in the following Hundreds:
Baltimore, Broadkill, Cedar Creek, Dagsboro,
Georgetown, Indian River, Lewes & Rehoboth
Western Sussex County comprises properties
located in the following Hundreds:
Broad Creek, Gumboro, Little Creek, Nanticoke,
North West Fork, Seaford

Total Units Sold

2012 .................................. 56
2011 .................................. 32

+75%

Average Sales Price

2012 ....................... $153,422
2011 ....................... $140,562

+9%

Median Sales Price

2012 ....................... $131,500
2011 ....................... $146,250

-10%

Georgetown Area

Total Units Sold By Price Range in 2012

Under $100,000 ................................... 22
$100,000-$200,000 ............................. 19
$200,000-$300,000 ............................. 10
$300,000-$400,000 ............................... 3
$400,000-$500,000 ............................... 1
$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

Current Active Inventory

Units Active ..... 66
Low ...................... $60,000
High ............ $649,000
Average List Price .............. $218,404
Median List Price ............... $205,000

Cedar Creek Hundred (Jan-Oct 2012) Milford/Lincoln/Slaughter Beach

Total Units Sold
2012 ................................ 145
2011 ................................ 116

+25%

Total Units Sold By Price Range in 2012

Average Sales Price

2012 ....................... $159,967
2011 ....................... $188,076

-15%

Median Sales Price

2012 ....................... $155,000
2011 ....................... $182,500

-15%

Under $100,000 ................................... 34

$100,000-$200,000 ............................. 74
$200,000-$300,000 ............................. 28
$300,000-$400,000 ............................... 7
$400,000-$500,000 ............................... 2
$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

Current Active Inventory

Units Active ... 201
Low ...................... $24,900
High ......... $1,699,000
Average List Price .............. $251,737
Median List Price ............... $209,900

Dagsboro Hundred (Jan-Oct 2012)

Total Units Sold
2012 .................................. 74
2011 .................................. 64

+16%

Average Sales Price

2012 ....................... $208,119
2011 ....................... $181,535

+15%

Median Sales Price

2012 ....................... $188,495
2011 ....................... $167,280

+13%

Dagsboro/Millsboro

Total Units Sold By Price Range in 2012

Under $100,000 ..................................... 5
$100,000-$200,000 ............................. 39
$200,000-$300,000 ............................. 23
$300,000-$400,000 ............................... 2
$400,000-$500,000 ............................... 2
$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 ............................ 1
Over $1,000,000 .................................... 0

Current Active Inventory

Units Active ... 137
Low ...................... $49,900
High ......... $1,950,000
Average List Price .............. $275,022
Median List Price ............... $220,990

Western Sussex County (Jan-Oct 2012)

Total Units Sold
2012 ................................ 359
2011 ................................ 304

+18%

Average Sales Price

2012 ....................... $133,909
2011 ....................... $153,214

-13%

Median Sales Price

2012 ....................... $130,000
2011 ....................... $148,500

-12%

West of Route 113

Total Units Sold By Price Range in 2012

Under $100,000 ................................. 119
$100,000-$200,000 ........................... 182
$200,000-$300,000 ............................. 47
$300,000-$400,000 ............................. 10
$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

Current Active Inventory

Units Active ... 553
Low ...................... $28,142
High ............ $959,000
Average List Price .............. $190,034
Median List Price ............... $169,900

HUNDREDS AREA KEY

Lewes and Rehoboth Hundred
Baltimore Hundred
Broadkill Hundred
Cedar Creek Hundred
Indian River Hundred
Georgetown Hundred
Dagsboro Hundred
Western Sussex County

Sussex County
Map

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

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