o
You may be able to find a great deal on a condo or home
while mortgage rates are still low. Current low interest rates
can provide for a more desirable property without increasing
your budgeted amount, and depending on your situation, can
be advisable to paying cash. Be aware that qualifying for a
second home loan can be tricky. If you intend to use the home
as an investment, you will need to evaluate that the “numbers”
make sense.
Data from Carla Scheder
via Altos Research LLC.
KEy
The Rehoboth Beachteam was founded over a decade ago
by Pat Campbell-White. She has served the needs of Coastal
Delaware buyers and sellers for 40 years making her one of the
most trusted and respected Realtors in the area. Her daughter,
Associate Broker Carla Scheder, has been a licensed Realtor since
1996. Their genuine care and local expertise are unparalleled.
No change
Strong upward trend
Slight upward trend
Strong downward trend
Slight downward trend
BETHany BEaCH
wning a second home in Delaware can offer
many financial advantages. First, a second
home used as a rental property can be a way
to increase your income and cash flow. Also,
in terms of quality vacation time with family, a
second home at the Delaware shore sounds a lot more “fun”
than a mutual fund. A third aspect to consider though is that
homes typically are solid investments. The Rehoboth Beach
real estate market regularly changes, however looking longterm, you’ll find that homes here always appreciate.
LEWES
Are you in a position where it would make sense
to have another home in a resort town like
Rehoboth Beach, Dewey Beach, Bethany Beach
or Lewes? You’ll be interested to know that there
are still tax benefits, along with lifestyle perks to
owning a second home in Delaware. Delaware
is one of the best places in the country due to
its location to major metropolitan areas and our
low tax burden.
REHOBOTH BEaCH
delaware Market
Profile
Real-Time maRkeT PRofile
TRend
Median List Price
$649,000
Asking Price Per Square Foot
$204
Average Days on Market (DOM)
135
Percent of Properties with Price Decrease
23%
Percent Relisted (reset DOM)
9%
Percent Flip (price increased)
5%
Median House Size (sq ft)
3047
Median Lot Size
0.25 - 0.50 acre
Market Action Index / Buyer’s Advantage
23.2
Real-Time maRkeT PRofile
TRend
Median List Price
$725,000
Asking Price Per Square Foot
$231
Average Days on Market (DOM)
116
Percent of Properties with Price Decrease
29%
Percent Relisted (reset DOM)
1%
Percent Flip (price increased)
4%
Median House Size (sq ft)
2927
Median Lot Size
6,501 - 8,000 sq ft
Market Action Index / Buyer’s Advantage
23.6
Real-Time maRkeT PRofile
TRend
Median List Price
$389,900
Asking Price Per Square Foot
$161
Average Days on Market (DOM)
132
Percent of Properties with Price Decrease
26%
Percent Relisted (reset DOM)
6%
Percent Flip (price increased)
9%
Median House Size (sq ft)
2400
Median Lot Size
0.25 - 0.50 acre
Market Action Index / Buyer’s Advantage
23.2
I SSUE N O. 7 43