The Long & Foster Market Minute

Focus On: Rehoboth Beach Housing Market January 2019

Zip Code(s): 19971
Units Sold
18
Active Inventory
322
Median Sale Price
$573,000
Days On Market
139
Down
Vs. Year Ago
Down -16%
Vs. Year Ago
Up
Vs. Year Ago
Down -16%
Vs. Year Ago

Units Sold
With relatively few transactions, there was a decrease in total units sold in January, with 18 sold this month in Rehoboth Beach Real Estate. This month's total units sold was lower than at this time last year, a decrease from January 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 63 units or 16%. The total number of active inventory this January was 322 compared to 385 in January 2018. This month's total of 322 is lower than the previous month's total supply of available inventory of 362, a decrease of 11%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last January, the median sale price for Rehoboth Beach Homes was $491,538. This January, the median sale price was $573,000, an increase of $81,462 compared to last year. The current median sold price is higher than in December.

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


New Listings
51
Current Contracts
34
Sold Vs. List Price
95.3%
Months of Supply
17.9
Down -24%
Vs. Year Ago
Down -19%
Vs. Year Ago
No Change
Vs. Year Ago
Up
Vs. Year Ago

Months of Supply
In January, there was 17.9 months of supply available in Rehoboth Beach, compared to 9.4 in January 2018. That is an increase 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 51 homes newly listed for sale in Rehoboth Beach compared to 67 in January 2018, a decrease of 24%. There were 34 current contracts pending sale this January compared to 42 a year ago. The number of current contracts is 19% lower than last January.

Sale Price to List Price Ratio
In January, the average sale price in Rehoboth Beach was 95.3% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 139, lower than the average last year, which was 166, a decrease of 16%.

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.