LUXURY MARKET REPORT
Seven Year Summary
Single Family Properties Over $1MM
Rehoboth Beach consistently ranks highest in single family luxury home sales throughout the coastal Delaware region. The luxury market appears to be very healthy with all stats showing positive, steady improvements, specifically:
1) Throughout coastal Delaware, Rehoboth Beach consistently ranks highest in the luxury home market (homes sold above the $1MM threshold).
2) Luxury homes are selling 2 days sooner (1% faster) by mid-2018 compared to mid-2017 stats.
3) The Average Sold Price decreased by $226K (13.1%) in 2018 versus 2017.
4) 2018 saw an 18% increase over 2017 in the number of $1MM+ homes sold (100 -vs- 85).
5) Currently, there is under than one year’s inventory of homes in today's luxury market.
* SOURCE: Matrix™ MLS System for residential properties. Data maintained in this system: may not reflect all real estate market activities; is deemed reliable but not guaranteed; and is subject to change without notice.