UNDER CONTRACT - 80 SUSSEX ST - NORTH REHOBOTH BEACH

This Jack Lingo listing was on the market for 252 days.  This is a new construction home built on one of the old Brown lots that were purchased a couple of years ago by a speculator.  I was inside this house the other day for an Agent Open house.  It's not quite complete but very nice with many cool upgrades.  It was listed for $1,295 and was at that price when it went under contract.  This is the 15th house to go under contract this year, 13 have closed.  Only 5 closed in the first half of the year, the other 10 in the second half.  It looks like the "big money" is finally jumping in and picking off some of these great deals.  There are 41 more that are now active in North Rehoboth.  By the way, the average selling price of all 15 properties is under $1MM and of the 13 that have closed, the average days on market is 364 and they went for 76% of their original asking price.  MLS #566483