2011 - END OF YEAR REPORT - SOUTH REHOBOTH BEACH

A very stormy year for Rehoboth real estate.  Like many other areas, South Rehoboth had a strong finish to the year with over half of the SFH closings taking place in the fourth quarter of 2011.  There were a total of 15 SFH closings in South Rehoboth with an average selling price of $1,269,900 and 380 days on market.  Sellers got an average of 81% of their original asking price.  The lowest price closing was $800,000 even (there were two) and the highest price was $3,700,000 for a home on a double lot beach side.  The highest days on market was 980 and the lowest was 8.  There are three more SFH properties under contract waiting to close as I write this.  There are also 20 active listings on the market averaging $2,139,000 as an asking price.  Average DOM for active listings is 519.  Four withdrew in Q4 of 2011.  The highest priced listing is 2 St. Lawrence Street for $6,750,000 and the lowest is 218 Stockley and 211 Munson, both at $899,000.  13 St. Lawrence has been on the market for 1,342 days.