Is Rehoboth Beach, DE a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Rehoboth Beach has remained a Buyer's Market.
Key Takeaway
Rehoboth Beach is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Rehoboth Beach, DE
How much do homes in Rehoboth Beach, DE cost?
Median Sold Price
$779,000
$321/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Rehoboth Beach have sold for 4.3% less than they did a year ago.
Summary: The median home sold price in Rehoboth Beach was $779,000 in March 2024, down 4.3% from last year, and the median price per square foot was $321.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $535.2K | $450K | -15.9% |
| 2 Bedrooms | $550K | $419.9K | -23.7% |
| 3 Bedrooms | $740K | $635K | -14.2% |
| 4 Bedrooms | $977.6K | $862.5K | -11.8% |
| 5+ Bedrooms | $2.5M | $1.0M | -58.3% |
Summary: Rehoboth Beach housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 15.9%, 2 bedroom homes decreased by 23.7%, 3 bedroom homes decreased by 14.2%, 4 bedroom homes decreased by 11.8%, and 5+ bedroom homes decreased by 58.3%.
Housing Supply in Rehoboth Beach, DE
How many homes are available in Rehoboth Beach, DE?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 235 | 255 | +8.5% |
Summary: The Rehoboth Beach real estate market had 255 homes for sale in March 2024, a 8.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 4 | +33.3% |
| 2 Bedrooms | 32 | 38 | +18.8% |
| 3 Bedrooms | 56 | 60 | +7.1% |
| 4 Bedrooms | 79 | 88 | +11.4% |
| 5+ Bedrooms | 65 | 65 | 0.0% |
Summary: The Rehoboth Beach housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 18.8%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 11.4%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 24 | 17 | -29.2% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Rehoboth Beach, you may be able to get a good deal. 52.9% of homes here sold below asking price last month.
Summary: A total of 17 homes were sold or pending in Rehoboth Beach in March 2024, down by 29.2% month-over-month. Of the 17 sold homes, 53% were sold under asking, 24% were sold at asking, and 24% were sold over asking.
Days on Market for Rehoboth Beach, DE
How long does it take to sell a home in Rehoboth Beach, DE?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 12 Days | 53 Days | +342.0% |
Summary: Homes in Rehoboth Beach had an average of 53 days on market in Mar 2024, up by 342% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Rehoboth Beach are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 17 homes were sold in Rehoboth Beach; 59% of homes were sold within 30 days, 35% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
