$5,344 Closing Credit*
$449,990
1,510 SqFt
3 Beds
•2 Full Baths
Jaime Hurlock, Listing Office: Long & Foster Real Estate, Inc.
Is Lewes, DE a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Lewes was a Seller's Market.
Key Takeaway
Lewes is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Lewes, DE
How much do homes in Lewes, DE cost?
Median Sold Price
$599,662
$268/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$3,097(+0.5%)
Key Takeaway
Homes in Lewes have sold for 0.5% more than they did a year ago.
Summary: The median home sold price in Lewes was $599,662 in November 2024, up 0.5% from last year, and the median price per square foot was $268.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $550K | - | N/A |
| 2 Bedrooms | $357.5K | $370K | +3.5% |
| 3 Bedrooms | $543.3K | $550.6K | +1.3% |
| 4 Bedrooms | $762.4K | $700.3K | -8.1% |
| 5+ Bedrooms | $1.0M | $1.0M | +4.6% |
Summary: Lewes housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 3.5%, 3 bedroom homes increased by 1.3%, 4 bedroom homes decreased by 8.1%, and 5+ bedroom homes increased by 4.6%.
Housing Supply in Lewes, DE
How many homes are available in Lewes, DE?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 412 | 353 | -14.3% |
Summary: The Lewes real estate market had 353 homes for sale in November 2024, a 14.3% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 52 | 45 | -13.5% |
| 3 Bedrooms | 196 | 170 | -13.3% |
| 4 Bedrooms | 117 | 96 | -17.9% |
| 5+ Bedrooms | 47 | 42 | -10.6% |
Summary: The Lewes housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 13.5%, 3 bedroom homes decreased by 13.3%, 4 bedroom homes decreased by 17.9%, and 5+ bedroom homes decreased by 10.6%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 101 | 58 | -42.6% |
Asking Price vs. Sold Price
40 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lewes, you may be able to get a good deal. 69% of homes here sold below asking price last month.
Summary: A total of 58 homes were sold or pending in Lewes in November 2024, down by 42.6% month-over-month. Of the 58 sold homes, 69% were sold under asking, 12% were sold at asking, and 19% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 63 Days | 40 Days | -36.1% |
Summary: Homes in Lewes had an average of 40 days on market in Nov 2024, down by 36.1% compared to last year.
Breakdown of Home Sale Times
33 Homes Were Sold
Under 30 Days
14 Homes Were Sold
In 30 - 90 Days
11 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 November 2024, 58 homes were sold in Lewes; 57% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.
