Sussex County Delaware Luxury Housing Market Update November 17
Sussex County, Delaware - November 17 The real estate market is always changing, and if you re buying or selling a home especially a luxury property it s critical to understand the current market conditions. More than simply seeing what s happening to real estate as a whole in your local area, you need insights on what s taking place in the highend market, specifically with uncommon and unique homes like yours or those for which you re shopping. That s why Long & Foster publishes our exclusive LuxInsight report giving consumers like you invaluable information on the luxury market performance in your local area. Published monthly, LuxInsight provides you with A broad overview of real estate trends in the high-end real estate market. From median sale prices and active inventory to the current housing Demand and available active listings, LuxInsight gives you access to essential statistics you need to know. Beyond this valuable market information, Long & Foster s team of luxury sales associates is available to guide you through the real estate process. We believe luxury real estate is all about the individual, and when you work with us, you'll receive an experience tailored to your unique needs. You'll enjoy exceptional service and expertise, provided by agents who specialize in marketing and selling the most stunning luxury homes. You'll gain our exclusive connections around the world and get a luxury home experience with proven results. AT A GLANCE Active Inventory 272 New Listings 26 Units Sold 23 Median Sale Price $96, 7 6 4 3 1 N-14 F-1 M-1 A-1 N-1 F-16 M-16 A-16 N-16 F-17 M-17 A-17 N-17 4 3 3 2 1 1 N-14 F-1 M-1 A-1 N-1 F-16 M-16 A-16 N-16 F-17 M-17 A-17 N-17 $1,4, $1,3, $1,2, $1,1, $1,, $9, $8, $7, N-14 F-1 M-1 A-1 N-1 F-16 M-16 A-16 N-16 F-17 M-17 A-17 N-17 Down -3.9% Up 8.3% Up 4.% Down -3.6% 2
Sussex County, Delaware - November 17 Compared to last November, the total number of homes more than $7, available this month was lower by 3.9% and lower by 13.4% compared to November 1. Active inventory this November was 8.4% lower than the previous month s supply of available inventory. Total Inventory INVENTORY PRICE RANGES $7K + 1.94% $7K - $2M 8.77% $2M - $M 2.9% $M+.8% 4 3 3 2 1 1 ACTIVE INVENTORY 31 269 29 267 274 289 36 336 344 338 342 333 314 32 341 342 347 362 37 34 327 319 261 23 277 278 29 33 36 286 298 34 297 272 NEW LISTINGS & NEW CONTRACTS New Listings New Contracts ACTIVE INVENTORY Versus Previous Years 7 6 4 3 1 28 21 19 24 26 3 27 3 3 28 26 24 314 272 3
Sussex County, Delaware - November 17 This month s units sold for homes more than $7, was higher than at this time last year, an increase of 4.% versus last November and an increase of 21.1% versus November of 1. There was a decrease of 23.3% in luxury units sold in November compared to October of this year. 2 1 1 19 UNITS SOLD Versus Previous Years 23 4 UNITS SOLD 3 3 2 1 1 13 21 14 29 21 1 16 26 31 19 14 14 16 16 21 28 29 31 24 34 2 3 24 18 23 29 3 23 Sold Date City Zip Code RECENT SELECTED LUXURY SALES Final List Price Final Sale Price Sale Price as % of List Price November 3, 17 Rehoboth Beach 19971 $1,899, $1,6, 84.3% 264 November 9, 17 South Bethany 1993 $96, $92, 96.4% 218 November 3, 17 North Bethany 1993 $849, $817, 96.3% 36 October 16, 17 North Bethany 1993 $2,99, $2,7, 91.8% 186 October, 17 North Bethany 1993 $2,64, $2,, 94.% 11 October 13, 17 Fenwick Island 19944 $2,39, $2,19, 91.6% 193 October 6, 17 Rehoboth Beach 19971 $1,77, $1,76, 99.4% 2 October 13, 17 Bethany Beach 1993 $1,78, $1,69, 9.% 33 October 27, 17 Bethany Beach 1993 $1,1, $1,1, 1.% 4 October 2, 17 Bethany Beach 1993 $1,, $96, 91.4% 128 DOM Buyer Long & Foster Represented Seller 4
Sussex County, Delaware - November 17 In November, the median sales price for homes more than $7, was $96,, a decrease of 3.6% compared to last year. The current median sales price is approximately the same as October. $1,, $1,, $98, $96, $94, $9, $9, MEDIAN SALES PRICE Versus Previous Years $1,,832 $96, $1,4, MEDIAN SALES PRICE $1,, $1,, $8, $6, $1,18, $99, $1,, $1,12, $93,69 $9, $1,17, $962, $1,32, $873,91 $1,3,474 $89, $9, $912,93 $1,9,744 $829,924 $843,7 $92, $1,, $1,, $1,67, $962, $1,3, $1,7, $1,,832 $1,1, $1,7, $1,2, $1,2, $1,2, $1,1, $1,199,9 $1,3, $1,32, $1,3, $97, $96, $4, $, $ $6,, TOTAL DOLLAR VOLUME SOLD $,, $4,, $3,, $,, Total volume sold this November was 8.6% lower than the same month one year ago. $1,, $ $16,281,7 $,968,424 $28,3,69 $2,892,331
Sussex County, Delaware - November 17 In November, the average sale price for homes more than $7, was 9.% of the average list price, which is 2.% lower than at this time last year. This month, the average number of days on market was 244, higher than the average last year, which was 18. 1% 98% 96% 94% 92% 9% 88% 86% 93.4% SALE PRICE AS % OF LIST PRICE 94.2% 97.% 9.% DAYS ON MARKET 3 2 1 1 172 174 247 196 168 236 174 24 9 137 194 12 139 126 124 1 26 22 234 6 17 141 233 198 193 18 1 1 97 187 134 12 244 171 163 143 147 MONTHS OF SUPPLY In November, there were 11.8 months of supply available, compared to 12.9 in November of 16. That is a decrease of 8.% versus a year ago. 3 2 1 1 23.9 12.8 11.8 19.1 13.7 1. 14.6.4 21. 1.4 13.2 1.7 16..2 14.2 21.6 21.3 21.4 16. 16. 17.9 17. 11.7 11. 12.9 8.4 1. 12.6 8.2 11.6 8.7 12.8 1.9 13. 1. 9.9 11.8 6
Sussex County, Delaware - November 17 References & Definitions SUSSEX COUNTY, DE: LISTING SOURCE, REPORTING AREA, & DEFINITION Based on data supplied by the SCAOR MLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. This report includes coverage for the county of Sussex, Delaware only. Analysis dates for all regions are November 1, 14 through November 3, 17. MEDIA CONTACT Vicki Bendure, Bendure Communications Email: Vicki@bendurepr.com Phone: (4) 687-336 Contacts & Disclaimers CREATED BY Michael Bystry, Long & Foster Real Estate, Inc. Senior Market Research Analyst DISCLAIMER "Information contained in this report is based on data provided by the local area Multiple Listing Service and its member Association(s) of REALTORS. No representation, expressed or implied, should be taken from information herein. Neither these organizations nor Long & Foster Real Estate, Inc. guarantee or are in any way responsible for the accuracy of these results, which do not reflect all activity in the marketplace. For more information regarding your specific market, contact one of Long & Foster s knowledgeable and experienced sales associates. Analysis dates are November 1, 14 through November 3, 17. Information contained in this report is not limited to transactions done by Long & Foster Real Estate, Inc. The data reported is solely for residential real estate transactions. Information contained in this report is deemed reliable but not guaranteed, should be independently verified and does not constitute an opinion of Long & Foster Real Estate, Inc. For more information regarding your specific market, contact one of Long & Foster s knowledgeable and experienced sales associates. Analysis dates are November 1, 14 through November 3, 17". Material appearing in this report may be reproduced or copied without permission. Please use the following acknowledgement for citation: Source: Long & Foster Real Estate, Inc. and also cite the appropriate MLS. 7