Is Lewes, DE a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$570,972
$269/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Lewes have sold for 12.3% less than they did a year ago.
Summary: The median home sold price in Lewes was $570,972 in April 2024, down 12.3% from last year, and the median price per square foot was $269.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $550K | N/A |
| 2 Bedrooms | $358K | $359K | 0.3% |
| 3 Bedrooms | $572.2K | $531.7K | -7.1% |
| 4 Bedrooms | $852.2K | $700K | -17.9% |
| 5+ Bedrooms | $1.1M | $994.9K | -12.5% |
Summary: Lewes housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 0.3%, 3 bedroom homes decreased by 7.1%, 4 bedroom homes decreased by 17.9%, and 5+ bedroom homes decreased by 12.5%.
Housing Supply in Lewes, DE
How many homes are available in Lewes, DE?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 362 | 356 | -1.7% |
Summary: The Lewes real estate market had 356 homes for sale in April 2024, a 1.7% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 36 | 35 | -2.8% |
| 3 Bedrooms | 193 | 180 | -6.7% |
| 4 Bedrooms | 95 | 99 | +4.2% |
| 5+ Bedrooms | 38 | 42 | +10.5% |
Summary: The Lewes housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 2.8%, 3 bedroom homes decreased by 6.7%, 4 bedroom homes increased by 4.2%, and 5+ bedroom homes increased by 10.5%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 73 | 52 | -28.8% |
Asking Price vs. Sold Price
24 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
20 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lewes, you may be able to get a good deal. 46.2% of homes here sold below asking price last month.
Summary: A total of 52 homes were sold or pending in Lewes in April 2024, down by 28.8% month-over-month. Of the 52 sold homes, 46% were sold under asking, 15% were sold at asking, and 38% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 50 Days | 41 Days | -17.3% |
Summary: Homes in Lewes had an average of 41 days on market in Apr 2024, down by 17.3% compared to last year.
Breakdown of Home Sale Times
32 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
12 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 April 2024, 52 homes were sold in Lewes; 62% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 23% of homes were sold over 90 days.
