Is Rehoboth Beach, DE a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Rehoboth Beach has remained a Seller's Market.
Key Takeaway
Rehoboth Beach is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Rehoboth Beach, DE
How much do homes in Rehoboth Beach, DE cost?
Median Sold Price
$765,420
$331/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Rehoboth Beach have sold for 6.1% less than they did a year ago.
Summary: The median home sold price in Rehoboth Beach was $765,420 in April 2024, down 6.1% from last year, and the median price per square foot was $331.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $482.5K | $450K | -6.7% |
| 2 Bedrooms | $491K | $425K | -13.4% |
| 3 Bedrooms | $712.6K | $648.2K | -9.0% |
| 4 Bedrooms | $879.6K | $867.3K | -1.4% |
| 5+ Bedrooms | $1.8M | $1.1M | -39.7% |
Summary: Rehoboth Beach housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.7%, 2 bedroom homes decreased by 13.4%, 3 bedroom homes decreased by 9%, 4 bedroom homes decreased by 1.4%, and 5+ bedroom homes decreased by 39.7%.
Housing Supply in Rehoboth Beach, DE
How many homes are available in Rehoboth Beach, DE?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 153 | 169 | +10.5% |
Summary: The Rehoboth Beach real estate market had 169 homes for sale in April 2024, a 10.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 6 | +50.0% |
| 2 Bedrooms | 25 | 25 | 0.0% |
| 3 Bedrooms | 45 | 48 | +6.7% |
| 4 Bedrooms | 45 | 51 | +13.3% |
| 5+ Bedrooms | 34 | 39 | +14.7% |
Summary: The Rehoboth Beach housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes remained the same, 3 bedroom homes increased by 6.7%, 4 bedroom homes increased by 13.3%, and 5+ bedroom homes increased by 14.7%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 20 | 31 | +55.0% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
12 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. 41.9% of homes here sold below asking price last month.
Summary: A total of 31 homes were sold or pending in Rehoboth Beach in April 2024, up by 55.0% month-over-month. Of the 31 sold homes, 42% were sold under asking, 19% were sold at asking, and 39% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 75 Days | 35 Days | -52.4% |
Summary: Homes in Rehoboth Beach had an average of 35 days on market in Apr 2024, down by 52.4% compared to last year.
Breakdown of Home Sale Times
23 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Rehoboth Beach are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 31 homes were sold in Rehoboth Beach; 74% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 16% of homes were sold over 90 days.
