Rehoboth Beach Real Estate News

2009 January 1 - August 12
92 single family home sales
Highest Sale Price: $4,500,000
Lowest Sales Price: $160,000
Median Sales Price: $492,500
Average Sales Price: $664,974
Average Days on the Market (for those that sold): 217
Hottest Selling Community:  Rehoboth Beach Yacht and Country Club with 15 total sales.

2008 January 1 - August 12
104 single family home sales
Highest Sale Price: $2,700,000
Lowest Sales Price: $99,999
Median Sales Price: $549,950
Average Sales Price: $773,708
Average Days on the Market (for those that sold): 181
Hottest Selling Community: Summercrest with 12 sales closely followed by RBYCC with 11 total sales.

While I’m at it I might as well throw in 2007

2007 January 1 - August 12
146 single family home sales
Highest Sale Price: $3,995,000
Lowest Sales Price: $209,900
Median Sales Price: $599,555
Average Sales Price: $829,539
Average Days on the Market (for those that sold): 185
Hottest Selling Community: Rehoboth Beach Yacht and Country Club with 24 sales.

What can be learned from this? Prices are down significantly and homes in Rehoboth Beach Country Club are always in Demand.  For more in-depth stats corresponding to any local town or community in the area feel free to contact me at mike@bwbeach.com

My wife and I were extremely busy with buyers this weekend.  For us Saturday & Sunday resulted in four offers being written and as of today (Tuesday) two ratified contracts and possibly another two before the week is over.  We even encountered a bidding war on a home that has been on the market for over a year.  Hallelujah! The local market is picking up again and I won’t have to sell my Grandmother to the highest bidder on Ebay in order to pay the electric bill.

Village of Cinderberry Clubhouse

While  I was out showing homes on  Saturday I discovered a hidden gem located in the center of Georgetown. True, the location is a good half hour drive from the boardwalk but at this distance from the beach you don’t have to worry about tidal waves.  The name of the community is the Village of Cinderberry The Village of Cinderberry is a 50 and over community of approximately 170 homes and as of this writing (Feb 10 2009) about 80% occupied.  New construction homes are still available but if you are looking for the real bargains take a look at the re-sales. The median re-sale price in the community is $244,900 but currently the  least expensive home is  a real steal at $176,900.  6 Bayberry Street is a 1425 SF 2BR/2BA home with a single car garage in a beautifully maintained 50+ adult community with a very nice community center featuring an indoor pool, athletic center and huge auditorium for community events.  Pre-owned three bedroom models are available with asking prices starting around $234,900 Yard maintenance, community center upkeep, cable tv and internet service are all covered under the HOA fees.
For questions about this active adult community please contact me at 302 258 4368.