Coastal DelawareCoastal Maryland

Market Update

Coastal Delaware

Q4 2023

Residential Property Snapshot

Single Family Homes | Q4 2023
Med. Sales Price
$541k
1% more than in
Q4 2022
Avg. Days On Market
54
10% more than in
Q4 2022
Closed Sales
734
7% fewer than in
Q4 2022
Inventory
900
10% more than in
Q4 2022
Closed
New
Inventory

Closed Sales by Price

Single Family Homes

     |  Q4 2023
    Closed Sales by Price — underlying data
    Closed Under $500k43.9%
    Q4 '23322
    Q4 '22349
    1YR CHANGE-8%
    Closed $500k - $1m42.6%
    Q4 '23313
    Q4 '22332
    1YR CHANGE-6%
    Closed $1m - $2m9.8%
    Q4 '2372
    Q4 '2298
    1YR CHANGE-27%
    Closed Over $2m3.7%
    Q4 '2327
    Q4 '2214
    1YR CHANGE+93%
    By Year
    By Price

    Market Data by Year

    Single Family Homes

       |  Q4 2023

      Rotate your device to view as table
      '22 - '23
      Inventory
      Inventory represents the number of active properties on the market at the end of the quarter
      10%
      New Listings
      New Listings represents the number of properties listed during the quarter.
      25%
      Months Supply of Inventory
      Months' supply of inventory refers to the number of months it would take for the current inventory of homes on the market to sell given the current sales pace.
      12%
      Closed Sales
      -7%
      Average Days On Market
      Average Days on Market represents the number of days that a property has been listed until a seller has accepted an offer and signed a contract.
      10%

      23 Communities

      Communities

      Bayside

      Median
      $735k
      DOM
      50
      Sales
      9
      Inv
      5

      Bethany Beach

      Median
      $1.35m
      DOM
      46
      Sales
      33
      Inv
      18

      Broadkill Beach

      Median
      $2.18m
      DOM
      11
      Sales
      1
      Inv
      5

      Dagsboro

      Median
      $270k
      DOM
      22
      Sales
      2
      Inv
      1

      Dewey Beach

      Median
      $2.65m
      DOM
      11
      Sales
      1
      Inv
      6

      Fenwick Island

      Median
      $1.76m
      DOM
      19
      Sales
      2
      Inv
      4

      Frankford

      Median
      $215k
      DOM
      3
      Sales
      1
      Inv
      0

      Georgetown

      Median
      $353k
      DOM
      43
      Sales
      12
      Inv
      14

      Harbeson

      Median
      n/a
      Sales
      0
      Inv
      0

      Henlopen Acres

      Median
      $3.02m
      DOM
      1
      Sales
      2
      Inv
      0

      Lewes

      Median
      $591k
      DOM
      50
      Sales
      204
      Inv
      192

      Long Neck

      Median
      $295k
      DOM
      23
      Sales
      2
      Inv
      4

      Milford

      Median
      $325k
      DOM
      39
      Sales
      24
      Inv
      33

      Millsboro

      Median
      $390k
      DOM
      43
      Sales
      32
      Inv
      24

      Millville

      Median
      $565k
      DOM
      84
      Sales
      10
      Inv
      13

      Milton

      Median
      $401k
      DOM
      60
      Sales
      12
      Inv
      13

      North Bethany

      Median
      $993k
      DOM
      28
      Sales
      29
      Inv
      30

      Ocean View

      Median
      $625k
      DOM
      58
      Sales
      22
      Inv
      11

      Rehoboth Beach

      Median
      $870k
      DOM
      69
      Sales
      60
      Inv
      87

      Selbyville

      Median
      $392k
      DOM
      52
      Sales
      17
      Inv
      17

      Slaughter Beach

      Median
      $900k
      DOM
      21
      Sales
      3
      Inv
      4

      South Bethany

      Median
      $1.6m
      DOM
      86
      Sales
      11
      Inv
      5

      The Peninsula

      Median
      $940k
      DOM
      52
      Sales
      17
      Inv
      16

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      Data provided by Bright MLS. All information is deemed reliable but not guaranteed. Data is based on the closed date as of Dec 31, 2023 end of day. This report was last updated Feb 6, 2024.

      ©2023 Sotheby’s International Realty. All Rights Reserved. Sotheby’s International Realty® is a registered trademark. Each Sotheby’s International Realty office is independently owned and operated, except those operated by Sotheby’s International Realty, Inc. This material is based upon information which we consider reliable but because it has been supplied by third parties, we cannot represent that it is accurate or complete and it should not be relied upon as such. If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. We are happy to work with them and cooperate fully. Equal Housing Opportunity.