What is the most expensive home in Delaware?

Delaware is known for its beautiful beaches, historic attractions, and business-friendly environment. While it is the second smallest state by area in the United States, Delaware boasts grand estates and extravagant homes that can rival properties found anywhere else in the country or the world. For homeowners seeking luxury living and superior amenities, Delaware offers some of the most expensive homes found on the East Coast.

What factors make a home expensive in Delaware?

Several key factors drive up the prices of luxury real estate in Delaware:

• Location – Proximity to beaches and vibrant cities like Wilmington increases demand.
• Lot size – Large, multi-acre estates with privacy and land command top dollar.
• Architecture – Distinctive designs by renowned architects or historic estates draw interest.
• Amenities – High-end features like home theaters, wine cellars, pools, tennis courts, and more.
• Materials – Use of premium finishes, rare woods, marble, and other luxury materials.
• Views – Oceanfront or waterway frontage properties are highly desirable.
• Exclusivity – Very limited supply of ultra high-end homes allows pricing at a premium.

Home buyers seeking the top end of Delaware real estate look for homes that check multiple boxes when it comes to location, design, amenities, materials, and overall exclusivity. Properties that combine several luxury features and premium details stand out in Delaware’s luxury market.

Where are the most expensive homes located in Delaware?

Delaware’s most expensive residential real estate tends to be concentrated in coastal areas along the Atlantic Ocean and Delaware Bay. Some of the most exclusive and expensive homes are found in these sought-after communities:

• Rehoboth Beach – An affluent beach town with high-end oceanfront homes and estates.
• Lewes – A charming coastal town near Rehoboth Beach with luxury properties.
• Henlopen Acres – An unincorporated private community near Rehoboth Beach with large oceanfront homes.
• North Shores – A gated community along the Delaware Bay with amenities like a private marina.
• Greenville – An exclusive Wilmington suburb with sprawling estates on large multi-acre lots.

Other top locations for extravagant homes include the beach towns of Bethany Beach, South Bethany, and Fenwick Island as well as the inland communities of Centreville and Montchanin.

What amenities define luxury homes in Delaware?

For homes in Delaware to command premium multi-million dollar pricing, they require amenities and features that cater to the ultra-wealthy buyer. Many of the state’s most expensive residential properties contain amenities like:

• Direct beachfront or waterway access – With boat docks/lifts and private beaches.
• Resort-style pools – With pool houses, spas, water slides, and poolside cabanas.
• Home theaters – With stadium seating, HD projectors, and surround sound.
• Wine cellars – Professional quality climate controlled storage and tasting rooms.
• Home gyms – Extensive fitness areas for exercise and wellness.
• Tennis/sports courts – Regulation or professional courts on-site.
• Golf simulation suites – Virtual golf with screening and simulator technology.
• Guest houses – Private guest quarters in addition to the main residence.

Other common amenities in luxury Delaware properties include gourmet kitchens, saunas, game rooms, and multi-car garages. Grounds can feature stables, paddocks, boat houses, private ponds, gardens, and scenic views.

What architectural styles are popular for extravagant Delaware homes?

Some of the distinct architectural styles that expensive homes in Delaware exhibit include:

• Beach Cottages – Classic coastal designs with airy porches and cedar shake exteriors.
• Colonial – Features like white-painted brick, symmetrical facades, and dormer windows.
• Georgian – Brick or stone homes with formal symmetry and columns.
• Victorian – Ornate trims, turrets, and sprawling front porches.
• Mediterranean – Red tile roofs, stucco walls, arched windows and doorways.
• Contemporary – Sleek, modern designs and materials like concrete, steel, and glass.

Homes may mix various architectural details, but most high-dollar estates in Delaware have their own customized designs that set them apart. Renowned architects like Robert A.M. Stern are behind some of Delaware’s most architecturally significant homes.

Who builds luxury homes in Delaware?

Delaware’s multi-million dollar residential projects are crafted by top designers, builders, and developers in the region including:

• Preston Schell Properties – Luxury home builder behind prominent Rehoboth Beach estates.
• Highmark Construction – Custom home builder with award-winning projects throughout Delaware.
• Homesmiths – Bespoke builder creating custom estates in Rehoboth Beach and beyond.
• Salamone Builders – Luxury home and condo contractor located in North Wilmington.
• DSI Custom Homes – Custom designer and contractor for new high-end homes.

These firms have delivered some of Delaware’s most notable and expensive newly constructed homes. There is also a robust market for high-end brokerages selling extravagant existing homes in prime Delaware locations.

What are some examples of record-breaking sales of luxury Delaware homes?

The Delaware luxury real estate market has seen several record-shattering property sales in recent years. Here are a few notable examples:

Address	Sale Price	Year Sold
120 Henlopen Avenue, Rehoboth Beach	$12.5 million	2022
1 Edwards Lane, Wilmington	$11.3 million	2020
100 Bay Avenue, Lewes	$10.6 million	2021
301 Beacon Street, Rehoboth Beach	$10.1 million	2020
122 Commonwealth Boulevard, North Shores	$9.85 million	2019

The current record is held by 120 Henlopen Avenue, a 12,000 square foot oceanfront mansion sold for $12.5 million in 2022 after undergoing a lavish renovation. Delaware real estate experts speculate even higher sales prices are possible in the top tier market.

What features make 120 Henlopen Avenue worth over $12 million?

The record-setting 120 Henlopen Avenue home sold for $12.5 million in March 2022 due to its ultra-luxurious amenities and features, which include:

• 10 bedrooms and 16 bathrooms in the main house plus two guest cottages.
• Over 340 feet of direct ocean frontage with panoramic water views.
• 18,000 square foot home size and 2+ acre lot.
• Heated pool, spa, pool house and tennis court.
• Media room with Dolby Atmos sound system.
• Gym, sauna and massage room.
• Wine tasting room and cellar with 1,200 bottle capacity.
• Gourmet chef’s kitchen with designer appliances.
• Smart home technology and automation.
• Finished seven car garage.

The estate was newly renovated with the finest materials and systems throughout. The combination of expansive living space, luxury amenities, exclusive location and high-end details make it among Delaware’s most magnificent homes.

How much are other multi-million dollar homes in Delaware?

In addition to record sales like 120 Henlopen Avenue, Delaware has a number of other homes currently on the market priced at multi-million dollar levels. Here are examples of list prices for some of Delaware’s most expensive active home listings as of October 2023:

Address	List Price
1 Heron Cove, Rehoboth Beach	$11.5 million
101 E. Lake Drive, Rehoboth Beach	$11.3 million
42 Tall Pines Road, Lewes	$10.9 million
15 Henlopen Gardens, Rehoboth Beach	$9.9 million
1 The Preserve, Camden	$9.8 million

Luxury buyers have options across top Delaware locations like Rehoboth Beach, Lewes, and Greenville. Homes priced from $5 million to over $10 million regularly transact for those seeking ultra high-end real estate.

What can you get for $5 million in the Delaware luxury market?

While the very top end of Delaware real estate sells for $10 million and up, there are still impressive options in the $5 million price range. Here are some examples of what $5 million buys in different Delaware luxury markets:

• Rehoboth Beach: Newly built 7,000 sq ft oceanfront home with 4 bedrooms. High-end kitchen, rooftop deck, elevator and designer finishes throughout.
• Greenville: European-inspired 10,000 sq ft estate on 10 private acres. Resort pool and pool house. Wine cellar, home theater, gym, 5 bedrooms.
• Henlopen Acres: Historic beach cottage entirely renovated with 6 bedrooms. Over 400 feet of ocean frontage on 2+ acres.
• Chateau Country: Brand new 8,000 sq ft chateau. Tennis court, home theater, wine room, 4 bedrooms. Gourmet kitchen and 9 acres.
• Lewes: Waterfront home on 5 acres with dock access. Infinity pool, smart home technology, gourmet kitchen, 5 bedrooms.

Across top communities in Delaware, $5 million provides spacious living areas, high-end features, and custom details in either traditional or newly built homes.

How does the Delaware luxury market compare to neighboring states?

Known for its serene beaches and tax advantages, Delaware competes with neighboring luxury markets in states like Maryland, New Jersey, and New York. Here is how Delaware compares:

• Maryland: Ocean City and Eastern Shore homes can reach $5M+ but lack amenities of top Delaware beaches.
• New Jersey: Home prices higher overall but Delaware competes for vacation homes. NJ farmland estates rival Delaware.
• New York: The Hamptons offers elite beach homes but lower taxes draw buyers to Delaware.
• Pennsylvania: Homes in Philadelphia suburbs reach multi-million dollars but lack beach allure.

With its prime beach locations, low taxes, and exclusivity, Delaware competes well for luxury buyers against neighboring markets. Its inventory of high caliber homes keeps it a haven for wealthy home shoppers.

Why do people seeking luxury choose Delaware real estate?

Wealthy homebuyers are drawn to Delaware for its combination of attributes that appeal to luxury tastes, including:

• Elite beaches and vibrant coastal towns like Rehoboth Beach and Lewes.
• No sales tax and low property taxes compared to other states.
• Easy access but greater privacy compared to crowded metro areas.
• Idyllic lifestyle with a mix of luxury amenities and nature.
• Homes new and old with high-quality custom finishes.
• Prestige of owning property in an exclusive beach enclave.
• Discerned culture with top-tier dining and attractions.

From relaxation to amenities to status, Delaware luxury real estate offers what the most discerning affluent homebuyers desire in a secondary or vacation property market.

Conclusion

With properties like 120 Henlopen Avenue setting records at over $12 million, Delaware has staked its claim among top luxury real estate markets in the United States. Driven by the exacting demands of ultra high-net worth individuals, Delaware’s coastal mansions, chateaus, and estates offer the amenities, pedigree, and prestige that luxury buyers seek. While limited in overall inventory, Delaware’s one-of-a-kind trophy homes provide the finest housing options on the Eastern Seaboard and will likely continue to achieve new pricing milestones for years to come.