LUXURY MARKET REPORT
Multi-Year Summary


Single Family Properties Over $1MM



 

Noteworthy Observations:

Rehoboth Beach is the most active over $1MM market with 88 listings sold so far through September 14, 2021 at an average close to $2MM.

Bethany Beach is close behind with 73 over $1MM sales thus far in 2021, at a $1.9M average cost per home.

Dewey Beach is holding on to the highest average sales price, with far fewer sales in the over $1M range but close to a $2.2M average sales price in this segment of the market. Interestingly, Dewey has held onto the highest average sales price for the past 4 years since 2017; again with far fewer sales but a noteworthy average price in the luxury market.


As for the region as a whole:

1)  On average, luxury homes sold in 78 days year-to-date.

2)  At the midyear 2021 mark, the Average Sold Price increased significantly (up 30% or $425K) versus 2020 sales.

3)  Currently, inventory in the luxury segment of the market remains extremely low.

 

Q2 Active Lux Stats

Lux Sold header B


SOLD Lux 29July2021

2020 Lux Sales

Q2 SOLD Lux Stats v2

2018 Lux Sales

2017 Lux Sales

2016 Lux Sales

Lux 2015 BLux 2014 BLux 2013 B


SOURCE: Data compiled from Bright™ MLS System, as of Febuary 10, 2021, and is: subject to without notice,
may not reflect all real estate transactions; and is considered accurate but not guaranteed.