Lewes, DE
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Lewes Neighborhoods Since 2000




Lewes, DE Real Estate Data

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Lewes Housing Market Information

With 3,010 people, 1,496 houses or apartments, and a median cost of homes of $486,420, 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 74.45% of the city's housing units. Other types of housing that are prevalent in Lewes include large apartment complexes or high rise apartments ( 12.12%), duplexes, homes converted to apartments or other small apartment buildings ( 5.97%), and a few mobile homes or trailers ( 5.08%).

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 70.06% of Lewes's homes, and 61.25% 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 1940-1969 ( 18.84%). A lesser amount of the housing stock also hails from between 2000 and later ( 18.09%). There's also some housing in Lewes built before 1939 ( 14.94%).

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 Home Appreciation Rates

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 -1.16%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Lewes's appreciation rate, at 4.45%, has been at or slightly above the national average. In the latest quarter, Lewes's appreciation rate has been -0.31%, which annualizes to a rate of -1.24%.

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.

Average Home Values

 

Median Home Value:
$486,420

Lewes, DE HOME PRICES

Value Range
> $1,102,000 5.9
$826,001 - $1,102,000 6.7
$551,001 - $826,000 21.9
$441,001 - $551,000 22.1
$330,001 - $441,000 23.7
$220,001 - $330,000 8.8
$110,001 - $220,000 2.0
$55,001 - $110,000 1.9
$0 - $55,000 6.8

Very High for DE
Very High for Nation

Value Relative to Nation Value Relative to State
6.25805695534982 13.6363636363636

Number Of Homes And Apartments:
1,496

Lewes Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
DE*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
94.35% 3.93% 9 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,487 / per month

Homeownership Rate

Homeownership
Owners 70.06
Renters 29.94
Vacant 44.53

Housing Market Details

 

Age of Homes

AGE OF Lewes HOMES
2000 or Newer 18.1
1970 - 1999 48.1
1940 - 1969 18.8
1939 or Older 14.9

Types of Homes

TYPE OF Lewes HOMES
Single-Family 74.5
Townhomes 2.4
Small Apt. Buildings 6.0
Apt. Complexes 12.1
Mobile Homes 5.1
Other 0.0

Home Size

SIZE OF Lewes HOMES
No Bedroom 0.00
1 Bedroom 7.71
2 Bedrooms 19.50
3 Bedrooms 42.08
4 Bedrooms 19.17
5 or more bedrooms 11.53