The Long & Foster Market Minute

Focus On: Rehoboth Beach Housing Market March 2021

Zip Code(s): 19971
Units Sold
73
Active Inventory
92
Median Sale Price
$561,973
Days On Market
50
Up
Vs. Year Ago
Down -70%
Vs. Year Ago
Up 34%
Vs. Year Ago
Down -55%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 73 sold this month in Rehoboth Beach Real Estate. This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 213 units or 70%. The total number of active inventory this March was 92 compared to 305 in March 2020. This month's total of 92 is lower than the previous month's total supply of available inventory of 100, a decrease of 8%.

Median Sale Price
Last March, the median sale price for Rehoboth Beach Homes was $419,000. This March, the median sale price was $561,973, an increase of $142,973 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
94
Current Contracts
94
Sold Vs. List Price
99.8%
Months of Supply
1.3
Up 34%
Vs. Year Ago
Up 147%
Vs. Year Ago
Up 4.5%
Vs. Year Ago
Down -81%
Vs. Year Ago

Months of Supply
In March, there was 1.3 months of supply available in Rehoboth Beach, compared to 6.8 in March 2020. That is a decrease of 81% 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 94 homes newly listed for sale in Rehoboth Beach compared to 70 in March 2020, an increase of 34%. There were 94 current contracts pending sale this March compared to 38 a year ago. The number of current contracts is 147% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Rehoboth Beach was 99.8% of the average list price, which is 4.3% higher than at this time last year.

Days on Market
This month, the average number of days on market was 50, lower than the average last year, which was 111, a decrease of 55%.

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.