Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With 3,233 people, 1,629 houses or apartments, and a median cost of homes of $568,266, Lewes house prices are not only among the most expensive in Delaware, Lewes real estate also is some of the most expensive in all of America.
Single-family detached homes are the single most common housing type in Lewes, accounting for 72.30% of the city's housing units. Other types of housing that are prevalent in Lewes include row houses and other attached homes ( 10.90%), large apartment complexes or high rise apartments ( 8.75%), and a few mobile homes or trailers ( 4.63%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Lewes. Owner-occupied housing accounts for 78.38% of Lewes's homes, and 73.80% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Lewes built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Lewes built between 2000 and later ( 29.63%). A lesser amount of the housing stock also hails from between 1940-1969 ( 12.43%). There's also some housing in Lewes built before 1939 ( 11.30%).
A decent proportion of the Lewes housing stock is seasonally occupied. That is, homes and condos in Lewes are occupied by people for a portion of the year - mainly for vacation purposes - and then locked up and left unoccupied for the remainder of the year as owners return to their primary residences. This characteristic of the Lewes housing market speaks to its popularity as a vacation location of choice.
Lewes's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Lewes during the period has been just 1.49%, which is lower than 70% of US communities.
NeighborhoodScout's data show that during the latest twelve months, Lewes's appreciation rate, at 4.42%, has been at or slightly above the national average. In the latest quarter, Lewes's appreciation rate has been 2.36%, which annualizes to a rate of 9.79%.
Importantly, this makes Lewes one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Delaware, our data show that Lewes's latest annual appreciation rate is higher than 50% of the other cities and towns in Delaware.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Lewes differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Lewes - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Lewes real estate investment or home purchase decisions.
|$884,001 - $1,178,000||5.4|
|$589,001 - $884,000||36.8|
|$471,001 - $589,000||14.9|
|$354,001 - $471,000||15.8|
|$236,001 - $354,000||13.6|
|$118,001 - $236,000||3.2|
|$59,001 - $118,000||0.8|
|$0 - $59,000||2.7|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2020 Q1 - 2020 Q2
Last 12 Months:
2019 Q2 - 2020 Q2
Last 2 Years:
2018 Q2 - 2020 Q2
Last 5 Years:
2015 Q2 - 2020 Q2
Last 10 Years:
2010 Q2 - 2020 Q2
2000 Q1 - 2020 Q2
|* 10 is highest|
|AGE OF Lewes HOMES|
|2000 or Newer||29.6|
|1970 - 1999||46.6|
|1940 - 1969||12.4|
|1939 or Older||11.3|
|TYPE OF Lewes HOMES|
|Small Apt. Buildings||3.4|
|SIZE OF Lewes HOMES|
|5 or more bedrooms||5.54|