Everyone wants to know. As a REALTOR, when I go to a party or the grocery store or a local Happy Hour, everyone wants to know – How’s the real estate market? “Great”, I tell them, and then I explain further “remember, all real estate is local, and in Lewes the real estate market is very good!”
The National News talks about the averages and that includes a whole lot of locations without the appeal of Lewes, Delaware. Retiring Baby Boomers are flocking to Lewes and one of the communities in which they are buying homes is Bay Crossing. It’s just the right size with 256 homes on the East side of Route 1 and easy access into town.
So, what’s selling? A lot and quickly. That includes both new, to-be-built homes and the few resale homes as they become available. As of May 4th, there were 10 homes Under Contract; 2 of them are existing homes and 8 of them are new homes being built. That’s a lot of activity that might surprise you if you only watch the National News. And the prices at which homes in Bay Crossing are selling far exceeds the averages even for Sussex County.
How about Prices?
There were only 3 existing homes for sale as of the 4th and they are very competitively priced when I compare them to comparable recent home sales as an Appraiser would do. You can keep your eye on current active listings here – For Sale at Bay Crossing – but pay close attention to the pricing. The new, to-be-built homes when listed are shown at the Base Model Price. Existing homes are listed at the actual asking price which includes all the upgrades and options added by the original homeowner. Buying an almost new home is just like buying a low mileage pre-owned car to me. Just think about all the other included features you will have to buy for a new home. Even blinds can really add up.