The Leslie Kopp Group's Beach Real Estate Blog

We are more than half way through the year and buyer activity has remained strong and sales continue to outpace new listings. In Bethany Beach, 12 single family homes and 18 condo/townhomes went under contract in July. This compares to 9 and 20, respectively, in 2016.

As the chart illustrates, from January through July, single family home sales were down versus a strong 2016. This is the result of low inventory; it is not a reflection of reduced buyer demand. On August 1st, there were 64 single family homes for sale in Bethany. This is down 55% compared to one year prior when 103 homes were actively for sale!

Bethany Beach Real Estate Sales Statistics August 2017  

Importantly, higher-end sales surged as 20 properties valued at over $1 Million went under contract compared to 14 in 2016 and 5 in

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General Manager’s Quarterly Report

Courtesy of Tom Olson
August 12, 2017

 

We’re having a great summer! The beach is full, the fitness center bustling and tennis courts are packed. Our weekly bonfires, money hunts and the regular bingo nights are more popular than ever. To summarize: all recreational facilities have operated without interruption, our recreation, tennis and aquatics teams have planned and executed a full summer season and our Security,  Housekeeping and Maintenance teams have been extremely busy in keeping Sea Colony’s facilities safe and ready for peak season activity.  Our Security Department has also increased rules enforcement including the monitoring of Westway Drive traffic and badge checks at beach crossovers.

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Long & Foster’s Leslie Kopp Group Ranked Top in Nation
Bethany Beach-based team earns 159th spot on REAL Trends’ The Thousand list

 The Lesie Kopp Group Bethany Beach

CHANTILLY, Va. – The Leslie Kopp Group of Long & Foster Real Estate, based in Bethany Beach, Delaware, ranked 159th among real estate teams nationwide based on sales volume in 2016 on REAL Trends’ annual The Thousand list.

Kopp, who has specialized in the sale of coastal properties since 1989, says she attributes her group’s success to always putting her clients’ interests first, which results in many referrals from previous transactions.

“Our group is honored to be ranked as one of the top real estate groups in the country, and we’ve worked hard to achieve this level of success,” said Kopp. “This ranking shows

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Courtesy of the Bethany-Fenwick Area Chamber of Commmerce

WHATS HAPPENING ON 404?!

 Delays are expected as the 404 widening project continues throughout the summer. Progress can be a tricky thing - to go forward it is often necessary to forge new roads, which has certainly been the case in the process of creating a dual highway between U.S. Route 50 and the Maryland/Delaware line. It has been the summer of slowdowns on Maryland 404, but the good news, according to State Highway Administration spokesman Robert Rager, is construction is on schedule. The timeline set forth by Gov. Larry Hogan for SHA to have four lanes open to traffic - two west bound and two east bound - by the end of November 2017 is approaching quickly. Learn more and stay up to

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Inventory levels at the beach are as low as we have experienced in many years. In the Bethany Beach and Fenwick Island area, the number of single family homes and condo/townhomes currently for sale are down 30% and 18% respectively when compared to July of 2016.

If you follow our blog, you might recall that this is the time of year when we like to look at absorption rates. This statistic compares the pace of sales (which has remained strong) with inventory levels to tell us whether we are trending in the direction of a buyer’s or seller’s market. Generally speaking, 7 months of inventory or less is considered a seller’s market.

Bethany Beach Real Estate Inventory 2017

The graph clearly indicates that we are approaching a seller’s market. Aside from a small rise in South Bethany, where

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Earlier this month, the Delaware General Assembly voted in favor of House Bill 279 which increased the Realty Transfer Tax by 1%. The increased tax will apply to contracts dated on or after August 1, 2017.

The current total transfer tax is 3% and it is typically split equally between the buyer and seller at the time of settlement. Half of this goes to Sussex County and half to the State of Delaware. The new bill increases only the state’s portion which means the county will receive 1.5% and the state 2.5% for a total 4% tax at settlement.

Delaware Transfer Tax


While this is important information especially if you are preparing for a future purchase or a sale, we do not believe the net tax increase of .5% for each party at settlement will have an effect on demand for

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For much of 2017, we have been communicating to you that the beach real estate market is strong. After many years of price stability, all indications tell us that values are now on the rise.

Beach Property Values on the Rise


Low inventory levels coupled with high buyer activity continues to put upward pressure on prices for much of the market. The median sale price of single family homes and condo/townhomes in 2017 are up 10% and 13% respectively when compared to 2016. While values are still far from the market’s peak in 2006, this recent upward movement is significant. 

Take a look at all property currently for sale at the beach: Click Here !

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Courtesy of the Sea Colony Rec Association  |  June 27, 2017

Westway Drive Restriction

In an effort to enhance the safety of our residents and guests, the traffic that uses Westway Drive between Kent Ave. and Coastal Highway in Sea Colony will be restricted to only those cars displaying Sea Colony parking passes.  This change is effective on or about Wednesday, June 28.  

Any vehicles that do NOT display Sea Colony parking passes will be asked to NOT use Westway Drive, and to make a U-turn.  

The detour will be set every day between the hours of:

7:30 to 9:30 a.m. from Kent Avenue to Coastal Highway
3:30 to 5:30 p.m. from Coastal Highway to Kent Avenue 

Please keep this restriction in mind because there may be delays on Westway during those

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Courtesy of the Sea Colony Rec Association  |  June 7, 2017


A Note from the Sea Colony Rec Association President:

As a result of the recent homeowner and board elections, Phil Drew, Ron Wickwire and I have been reelected to the Sea Colony Rec Association. Further, I have been elected president, succeeding Ron Wickwire, who will continue as a board member but chose not to continue as president.  I am humbled by this election and feel privileged to serve our community.

I  hope you will join me in extending our thanks and sense of indebtedness to Ron Wickwire for his tireless leadership. In two decades as a Board member and president, he has played a critical, leadership role and has achieved incredible results for all of us at Sea Colony. These

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Courtesy of the Sea Colony Recreational Association

At the May 6, 2017 Board of Directors' meeting at Sea Colony, Area General Manager Tom Olson provided a winter and spring report.  Following is an expanded version, for your information:

GENERAL MANAGER’S QUARTERLY REPORT
From: Tom Olson
May, 2017

There’s a lot happening at Sea Colony. This quarterly report is intended to give you the latest news and an early look at our plans for another fantastic summer.

Freeman Fitness Center. We’re pleased to report that the outdoor pool at the center will open on June 10th.  With safety and infrastructure enhancements, upgraded sanitation systems, new decking, lighting and a resurfaced pool structure, this project completes our goal:  the Freeman Fitness

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