Rehoboth Beach Housing Market Data

With relatively few transactions, there was an increase in total units sold in February, with 37 sold this month in Rehoboth Beach Real Estate. This month's total units sold was higher than at this time last year, an increase from February 2022.

Versus last year, the total number of homes available this month is higher by 5 units or 5%. The total number of active inventory this February was 113 compared to 108 in February 2022. This month's total of 113 is higher than the previous month's total supply of available inventory of 107, an increase of 6%.

Last February, the median sale price for Rehoboth Beach Homes was $575,000. This February, the median sale price was $705,113, an increase of 23% or $130,113 compared to last year. The current median sold price is 22% lower than in January.

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

In February, there was 3.1 months of supply available in Rehoboth Beach. The amount of supply is similar compared to 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.

This month there were 53 homes newly listed for sale in Rehoboth Beach compared to 61 in February 2022, a decrease of 13%. There were 41 current contracts pending sale this February compared to 48 a year ago. The number of current contracts is 15% lower than last February.

In February, the average sale price in Rehoboth Beach was 100.2% of the average list price, which is 2.3% lower than at this time last year.

This month, the average number of days on market was 45, higher than the average last year, which was 15. This increase was impacted by the limited number of sales.





Focus On: Rehoboth Beach Housing Market			February 2023

Zip Code(s): 19971
Units Sold 37	Active Inventory 113	Median Sale Price $705,113	Days On Market 45

Up Vs. Year Ago	Up 5% Vs. Year Ago	Up 23% Vs. Year Ago	Up Vs. Year Ago


		Units Sold With relatively few transactions, there was an increase in total units sold in February, with 37 sold this month in Rehoboth Beach Real Estate. This month's total units sold was higher than at this time last year, an increase from February 2022.
Active Inventory Versus last year, the total number of homes available this month is higher by 5 units or 5%. The total number of active inventory this February was 113 compared to 108 in February 2022. This month's total of 113 is higher than the previous month's total supply of available inventory of 107, an increase of 6%.
		Median Sale Price Last February, the median sale price for Rehoboth Beach Homes was $575,000. This February, the median sale price was $705,113, an increase of 23% or $130,113 compared to last year. The current median sold price is 22% lower than in January. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 53	Current Contracts 41	Sold Vs. List Price 100.2%	Months of Supply 3.1

Down -13% Vs. Year Ago	Down -15% Vs. Year Ago	Down -2.2% Vs. Year Ago	No Change Vs. Year Ago


		Months of Supply In February, there was 3.1 months of supply available in Rehoboth Beach. The amount of supply is similar compared to 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 53 homes newly listed for sale in Rehoboth Beach compared to 61 in February 2022, a decrease of 13%. There were 41 current contracts pending sale this February compared to 48 a year ago. The number of current contracts is 15% lower than last February.
		Sale Price to List Price Ratio In February, the average sale price in Rehoboth Beach was 100.2% of the average list price, which is 2.3% lower than at this time last year. Days on Market This month, the average number of days on market was 45, higher than the average last year, which was 15. This increase was impacted by the limited number of sales.


	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.
	Information 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.