Rehoboth Beach Real Estate News

While it’s true that the real estate market is a real mess right now the best deals are moving like hotcakes.  I lost two deals this week to clients who did not pull the trigger quickly enough and were beaten to the settlement table by well prepared snipers. If you think a particular house is a spectacular deal there is a good chance that someone else is thinking the same thing. The sales I lost out on were both on the market less than two weeks.

Sales data from January 1 2009 - September 20 2009

Rehoboth Beach Real Estate Stats

These stats are very general in nature. They do not take into account the number of bedrooms, baths, square footage, waterviews or even the fact that there may be a lease expiring on the property in the near future as is common in Dewey Beach properties owned by “Rehoboth by the Sea”. If you enjoy crunching real estate related numbers give me a call for more in-depth data.

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

Average sales price of single family homes in Rehoboth Beach from 2006 - 2008

This chart shows the number of single family homes sold in Rehoboth Beach Delaware by month for 2006, 2007 and 2008.