Is Lewes, DE a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Lewes was a Seller's Market.
Housing Prices in Lewes, DE
How much do homes in Lewes, DE cost?
Median Sold Price
$582,290
$268/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Lewes was $582,290 in March 2024, down 13.1% from last year, and the median price per square foot was $268.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $550K | N/A |
2 Bedrooms | $346.5K | $359K | +3.6% |
3 Bedrooms | $583.9K | $535K | -8.4% |
4 Bedrooms | $869.7K | $725K | -16.6% |
5+ Bedrooms | $987.5K | $1.0M | +3.2% |
Summary: Lewes housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 3.6%, 3 bedroom homes decreased by 8.4%, 4 bedroom homes decreased by 16.6%, and 5+ bedroom homes increased by 3.2%.
Housing Supply in Lewes, DE
How many homes are available in Lewes, DE?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
479 | 520 | +8.6% |
Summary: The Lewes real estate market had 520 homes for sale in March 2024, a 8.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 49 | 53 | +8.2% |
3 Bedrooms | 239 | 264 | +10.5% |
4 Bedrooms | 131 | 138 | +5.3% |
5+ Bedrooms | 60 | 65 | +8.3% |
Summary: The Lewes housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 8.2%, 3 bedroom homes increased by 10.5%, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes increased by 8.3%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
36 | 61 | +69.4% |
Asking Price vs. Sold Price
34 Homes Were Sold
Under Asking
15 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Summary: A total of 61 homes were sold or pending in Lewes in March 2024, up by 69.4% month-over-month. Of the 61 sold homes, 56% were sold under asking, 25% were sold at asking, and 20% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
46 Days | 59 Days | +27.9% |
Summary: Homes in Lewes had an average of 59 days on market in Mar 2024, up by 27.9% compared to last year.
Breakdown of Home Sale Times
28 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
17 Homes Were Sold
Over 90 Days
Summary: During March 2024, 61 homes were sold in Lewes; 46% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 28% of homes were sold over 90 days.