Our Second Season
“Life starts all over again when it gets crisp in the fall."
- F. Scott Fitzgerald
Welcome, fall! It truly is our “second season” at the beach. We hope you enjoy the still-sunny weather, amazing sunsets, festivals, and restaurant specials! While many of us love summer most of all, fall is a very close second. Historically, fall is also a very busy season in real estate – and this year is no exception.
Last year was our ‘best year yet’ in terms of the number of sales (369!), which was truly mind-boggling. So far, 2018 is shaping up to be on par/slightly more brisk than 2016, which was at that time our ‘best year yet.’ This year is more indicative of steady market growth based on 2016’s results, as 2017 was a (welcome) anomaly!
To give you an idea of current trends shaping this year’s results, which of course represent results for sellers and buyers, we have sold 251 properties so far this year. There is relatively low available inventory in downtown Lewes and on Lewes Beach, so well-priced properties sell quickly. We have also seen several multiple offer situations this summer and fall on desirable, in-town and Lewes Beach homes.
Also competing in the market mix is a new construction/new community boom. If buyers cannot find a move-in ready home, they often look to new construction – and they do not have to look far.
Here is a sample of what is available and on the horizon/still under review in and adjacent to Lewes:
Admirals Chase - The Evergreene Companies has been approved for rezoning of a 7-acre parcel on Gills Neck Road to allow multi-family housing/24 duplexes in 12 buildings with a community pool and clubhouse. The parcel is next to Breakwater and borders Showfield at the rear.
“The Brittingham Property” - A 30-acre field on New Road on the other side of Canary Creek is under consideration for annexation. A public hearing was held October 30 and the City seems to be favorably considering annexation.
Fishers Cove – Proposed 18-home subdivision on 12 acres behind Rodney Avenue with lot sizes varying from 11,000 to 34,500 square feet (with most about one-third acre) as well as four open space areas totaling about 2.22 acres, including two wetland areas and one area fronting the Lewes-Rehoboth Canal available for use by community residents.
Governors – Currently Schell’s fastest-selling neighborhood will have 423 total homes, including 287 single-family homes and 136 townhomes on 118 acres with 76 acres of open space. Sales to date: 55 single-family and 29 townhomes.
Groome Church parcel on New Road – under consideration for 293 single-family lots on the 134 acres formerly owned by the Groome Church, however, there are historic/cultural considerations as well as DelDOT requirements still factoring into this plan.
Kings Highway senior-living facility - Yet to be named this 3-story, 220-000 square foot facility will be built by Ocean Atlantic Companies and Vantage Point Retirement Services LLC and will offer 80 independent-living units, 63 assisted-living units, and 63 memory care units on a 9.34-acre parcel.
Mariners' Retreat - Custom single family home community located along 4th Street in downtown Lewes. The community offers 34 homesites. Site work is being completed and home construction should start in early 2019.
Mitchell Farm - At the corner of Gills Neck Road and Kings Highway the developer plans 362 single family homes and medical buildings. The medical buildings would be in addition to one already approved by the County.
Showfield II - The second phase of Showfield will have 129 single-family homes on 80.6 acres, divided into a west parcel of 86 units and an east parcel of 43, divided by wetlands and a different parcel. It is an expansion of the adjacent 166-lot development now under construction.
If you have questions about what is coming on the market or if you are considering selling your home, please feel free to give us a call at The Lee Ann Wilkinson Group. While holidays are approaching, it is still a great time for beach real estate! The market starts all over again “when it gets crisp in the fall.”
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