Taking a look at the luxury market in 2014 versus 2013, the biggest story is the number of over $1MM properties sold. In 2014, 128 properties over $1MM were sold, compared to 90 properties in 2013, equating to a 38% increase in the luxury market. Based on current number of active luxury listings (132), we believe pricing will remain strong due to low (one year) supply. In addition,

  • Rehoboth and Bethany were, as usual, the strongest luxury home markets, with 56 homes in Rehoboth sold over $1MM and Bethany had 47 luxury sales – almost 100% increase over 2013!

  • Luxury homes are selling faster – Days on Market was down by 19% in 2014 over 2013.


 

Ocean Atlantic Sotheby's International Realty Luxury Market Report - 2013 vs 2014