The Long & Foster Market Minute

Focus On: Rehoboth Beach Housing Market July 2019

Zip Code(s): 19971
Units Sold
49
Active Inventory
349
Median Sale Price
$410,000
Days On Market
105
Down -2%
Vs. Year Ago
Up 3%
Vs. Year Ago
Up 1%
Vs. Year Ago
Up 9%
Vs. Year Ago

Units Sold
There was an increase in total units sold in July, with 49 sold this month in Rehoboth Beach Real Estate versus 45 last month, an increase of 9%. This month's total units sold was lower than at this time last year, a decrease of 2% versus July 2018.

Active Inventory
Versus last year, the total number of homes available this month is higher by 10 units or 3%. The total number of active inventory this July was 349 compared to 339 in July 2018. This month's total of 349 is lower than the previous month's total supply of available inventory of 364, a decrease of 4%.

Median Sale Price
Last July, the median sale price for Rehoboth Beach Homes was $407,000. This July, the median sale price was $410,000, an increase of 1% or $3,000 compared to last year. The current median sold price is 5% higher than in June.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
70
Current Contracts
54
Sold Vs. List Price
94.1%
Months of Supply
7.1
Up 30%
Vs. Year Ago
No Change
Vs. Year Ago
Down -1.9%
Vs. Year Ago
Up 5%
Vs. Year Ago

Months of Supply
In July, there was 7.1 months of supply available in Rehoboth Beach, compared to 6.8 in July 2018. That is an increase of 5% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 70 homes newly listed for sale in Rehoboth Beach compared to 54 in July 2018, an increase of 30%. There were 54 current contracts pending sale this July, consistent with the volume a year ago. The number of current contracts is 13% higher than last month.

Sale Price to List Price Ratio
In July, the average sale price in Rehoboth Beach was 94.1% of the average list price, which is 1.9% lower than at this time last year.

Days on Market
This month, the average number of days on market was 105, higher than the average last year, which was 96, an increase of 9%.

The Long & Foster Market Minute Rehoboth Beach are defined as properties listed in zip code/s 19971.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.