Coastal Sussex Housing Market

by Dave on August 13, 2008


For a complete list of Coastal Sussex properties log onto and then…….

As most of you have read in the national papers, the housing industry is in the sink.  However, that does not always mean that local housing markets are dipping as well.  For the record, Coldwall Banker on Route 1 reports 1,926 homes sold to date.  This number does not usually include new home construction or homes sold for sale by owner.Another good source for housing information is the Delaware State Housing Authority website.  They track sold units in every county, and seem to have a plethora of housing information.

Currently, some of the best deals can be found at any National Home Builder (Ryan, Lennar, Gemcraft), but also with Schell Brothers, Capstone Homes, and PSC Homes.  Actually, it is a great time to buy any spec home, since most builders must sell off these properties by the end of the fiscal year. 

My only advice as a licensed Realtor and development consultant is to perform your due diligence and ask as many new construction questions as possible.  Right now is not the time to buy high, nor it is the time to purchase a new or used home in a community with a slow absorption rate.  I would personally be reserahcing homes in the following communities:

Breakwater, Independence, Henlopen Landing, Oyster Rocks, The Retreat at Love Creek, Summercrest, The Villages of Five Points, and Pemberton in Milton.  Each community is only a few years old and offers low prices (250-400k), finalized sewer facilities, and a few amenities.  HOA fees usually run between $75 – $300 depending on the size of teh clubhouse, the number of units, and if you are purchasing multi-family or attached units. 

For more information on the local housing market please call me at 302-542-7722 or send an email to  I would love to discuss new home sales, large scale development, master planned communities, or what golf course has the best finishing hole in the area.

 Thanks – Merritt Burke 

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