LUXURY MARKET REPORT
Single Family Properties Over $1MM
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.
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.