Coastal MarylandCoastal Delaware

Market Update

Coastal Delaware

Q1 2023

Residential Property Snapshot

Single Family Homes | Q1 2023
Med. Sales Price
$572k
8% more than in
Q1 2022
Avg. Days On Market
56
70% more than in
Q1 2022
Closed Sales
691
19% fewer than in
Q1 2022
Inventory
832
Data unavailable for
Q1 2022
Closed
New
Inventory

Closed Sales by Price

Single Family Homes

     |  Q1 2023
    Closed Sales by Price — underlying data
    Closed Under $500k39.4%
    Q1 '23272
    Q1 '22387
    1YR CHANGE-30%
    Closed $500k - $1m44.1%
    Q1 '23305
    Q1 '22402
    1YR CHANGE-24%
    Closed $1m - $2m14.0%
    Q1 '2397
    Q1 '2243
    1YR CHANGE+126%
    Closed Over $2m2.5%
    Q1 '2317
    Q1 '2223
    1YR CHANGE-26%
    By Year
    By Price

    Market Data by Year

    Single Family Homes

       |  Q1 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
      n/a
      New Listings
      New Listings represents the number of properties listed during the quarter.
      -12%
      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.
      n/a
      Closed Sales
      -19%
      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.
      70%

      23 Communities

      Communities

      Bayside

      Median
      $1.15m
      DOM
      57
      Sales
      7
      Inv
      4

      Bethany Beach

      Median
      $1.35m
      DOM
      45
      Sales
      21
      Inv
      24

      Broadkill Beach

      Median
      $964k
      DOM
      46
      Sales
      2
      Inv
      3

      Dagsboro

      Median
      $372k
      DOM
      128
      Sales
      1
      Inv
      3

      Dewey Beach

      Median
      $1.4m
      DOM
      12
      Sales
      2
      Inv
      3

      Fenwick Island

      Median
      $2m
      DOM
      48
      Sales
      3
      Inv
      1

      Frankford

      Median
      n/a
      Sales
      0
      Inv
      1

      Georgetown

      Median
      $326k
      DOM
      48
      Sales
      12
      Inv
      14

      Harbeson

      Median
      n/a
      Sales
      0
      Inv
      0

      Henlopen Acres

      Median
      $3.33m
      DOM
      5
      Sales
      1
      Inv
      0

      Lewes

      Median
      $722k
      DOM
      63
      Sales
      204
      Inv
      206

      Long Neck

      Median
      $173k
      DOM
      40
      Sales
      2
      Inv
      2

      Milford

      Median
      $317k
      DOM
      40
      Sales
      38
      Inv
      10

      Millsboro

      Median
      $345k
      DOM
      38
      Sales
      9
      Inv
      19

      Millville

      Median
      $480k
      DOM
      102
      Sales
      14
      Inv
      8

      Milton

      Median
      $395k
      DOM
      60
      Sales
      8
      Inv
      11

      North Bethany

      Median
      $860k
      DOM
      28
      Sales
      16
      Inv
      36

      Ocean View

      Median
      $560k
      DOM
      43
      Sales
      13
      Inv
      11

      Rehoboth Beach

      Median
      $1.01m
      DOM
      37
      Sales
      66
      Inv
      92

      Selbyville

      Median
      $349k
      DOM
      72
      Sales
      12
      Inv
      4

      Slaughter Beach

      Median
      $635k
      DOM
      47
      Sales
      3
      Inv
      3

      South Bethany

      Median
      $1m
      DOM
      28
      Sales
      5
      Inv
      8

      The Peninsula

      Median
      $1.23m
      DOM
      54
      Sales
      15
      Inv
      29

      Data provided by Bright MLS. All information is deemed reliable but not guaranteed. Data is based on the closed date as of Mar 31, 2023 end of day. This report was last updated Apr 14, 2023.

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