The Long & Foster Market Minute

Focus On: Rehoboth Beach Housing Market March 2019

Zip Code(s): 19971
Units Sold
48
Active Inventory
372
Median Sale Price
$425,250
Days On Market
113
Down -25%
Vs. Year Ago
Down -4%
Vs. Year Ago
Up 2%
Vs. Year Ago
Down -16%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 48 sold this month in Rehoboth Beach Real Estate. This month's total units sold was lower than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 14 units or 4%. The total number of active inventory this March was 372 compared to 386 in March 2018. This month's total of 372 is higher than the previous month's total supply of available inventory of 358, an increase of 4%.

Median Sale Price
Last March, the median sale price for Rehoboth Beach Homes was $417,500. This March, the median sale price was $425,250, an increase of $7,750 compared to last year. The current median sold price is lower than in February.

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


New Listings
85
Current Contracts
47
Sold Vs. List Price
99.5%
Months of Supply
7.8
Down -9%
Vs. Year Ago
Down -39%
Vs. Year Ago
Up 2.1%
Vs. Year Ago
Up 29%
Vs. Year Ago

Months of Supply
In March, there was 7.8 months of supply available in Rehoboth Beach, compared to 6.0 in March 2018. That is an increase of 28% 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 85 homes newly listed for sale in Rehoboth Beach compared to 93 in March 2018, a decrease of 9%. There were 47 current contracts pending sale this March compared to 77 a year ago. The number of current contracts is 39% lower than last March.

Sale Price to List Price Ratio
In March, the average sale price in Rehoboth Beach was 99.5% of the average list price, which is 2.0% higher than at this time last year.

Days on Market
This month, the average number of days on market was 113, lower than the average last year, which was 135, 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.