$9,083 Closing Credit*
$764,900
3,433 SqFt
5 Beds
•3 Full Baths, 1 Partial
APRIL IRELAN, Listing Office: Jack Lingo - Lewes
Is Lewes, DE a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Lewes has remained a Seller's Market.
Key Takeaway
Lewes is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lewes, DE
How much do homes in Lewes, DE cost?
Median Sold Price
$594,064
$266/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$17,614(-2.9%)
Key Takeaway
Homes in Lewes have sold for 2.9% less than they did a year ago.
Summary: The median home sold price in Lewes was $594,064 in October 2024, down 2.9% from last year, and the median price per square foot was $266.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $550K | - | N/A |
| 2 Bedrooms | $358K | $366K | +2.2% |
| 3 Bedrooms | $546.5K | $550K | +0.6% |
| 4 Bedrooms | $781.8K | $676.8K | -13.4% |
| 5+ Bedrooms | $1.0M | $1.0M | +5.4% |
Summary: Lewes housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 2.2%, 3 bedroom homes increased by 0.6%, 4 bedroom homes decreased by 13.4%, and 5+ bedroom homes increased by 5.4%.
Housing Supply in Lewes, DE
How many homes are available in Lewes, DE?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 420 | 420 | 0.0% |
Summary: The Lewes real estate market had 420 homes for sale in October 2024, the same as September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 52 | 53 | +1.9% |
| 3 Bedrooms | 191 | 203 | +6.3% |
| 4 Bedrooms | 131 | 116 | -11.5% |
| 5+ Bedrooms | 46 | 48 | +4.3% |
Summary: The Lewes housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 1.9%, 3 bedroom homes increased by 6.3%, 4 bedroom homes decreased by 11.5%, and 5+ bedroom homes increased by 4.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 76 | 86 | +13.2% |
Asking Price vs. Sold Price
38 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
36 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lewes, you may be able to get a good deal. 44.2% of homes here sold below asking price last month.
Summary: A total of 86 homes were sold or pending in Lewes in October 2024, up by 13.2% month-over-month. Of the 86 sold homes, 44% were sold under asking, 14% were sold at asking, and 42% were sold over asking.
Days on Market for Lewes, DE
How long does it take to sell a home in Lewes, DE?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 51 Days | 39 Days | -24.5% |
Summary: Homes in Lewes had an average of 39 days on market in Oct 2024, down by 24.5% compared to last year.
Breakdown of Home Sale Times
55 Homes Were Sold
Under 30 Days
15 Homes Were Sold
In 30 - 90 Days
16 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lewes are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 86 homes were sold in Lewes; 64% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.
