Confused Buy…, Home Buyer in Rehoboth Beach, DE

How much have real estate prices dropped for single family homes in 1. Lewes a. east of Rt 1 and b. west of Rt 1 and 2. Rehoboth Beach since 6/09?

Asked by Confused Buyer, Rehoboth Beach, DE Wed Mar 3, 2010

Thank you for your assistance.

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Answers

2
Dustin & Mariya’s answer
Kathy is right on the money. You would need to refine your question a bit to find the answer you seek. Hopefully you found a great home in the mean time!

Warm Regards,

Dustin & Mariya
0 votes Thank Flag Link Sun Dec 30, 2012
Dear Confused,
That's a pretty broad question. The best way to analyze real estate prices in a given area is to look at closed sales in a particular neighborhood during a period of time and then compare them to the same period in the last year. To compare sales in February to sales in June is a bit like apples and oranges. In Lewes a. for example, are we talking about the Historic District, Lewes Beach or newer communities like Covey Creek or Nassau Station?
I can tell you in general that Single Family Homes in Sussex County sold for about 92.2% of listing price in June 2009; in January 2010, the average sale price was 94.4% of list price. In Lewes, East of Rt. 1 homes sold in June 2009 for an average 92% of listing price; in Rehoboth Beach the average was just under 90%. What will it be this year? I don't believe February is a good comparison, especially with the snow.
It can be confusing, but I would be happy to sit down with you and help you understand where the market is right now.
Kathy Sperl-Bell
RE/MAX Realty Group
302-645-4564
0 votes Thank Flag Link Thu Mar 4, 2010
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