Delaware Beach Real Estate Blog

The Delaware General Assembly recently introduced a bipartisan bill that would decrease the Delaware real estate transfer tax from 4% to 3%. The current 4% tax was implemented in 2017 to help offset a state budget deficit. Delaware is ranked as one of the states with the highest real estate transfer tax in the nation.

The bill is currently in the House Administrative Committee and if passed, would restore the tax rate to the pre-2017 level of 3% and would take effect on July 1, 2022.

Click here for more information.

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During the first quarter of 2022, we continued to experience an exceptional market for sellers. As the chart illustrates, the number of properties sold in the Bethany-Fenwick area was down 20% when compared to the first quarter of last year while sales volume was up 12%. Properties continued to go under contract very quickly as inventory was down 30% year-over-year and 80% compared to 2020!

 As always, if we can offer you any real estate guidance, we are here to help. Please give us a call, 302.541.5207.

 

 

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Beautiful canal front home with incredible views and a private boat dock located just a few blocks to the life-guarded beach in South Bethany. This meticulously maintained coastal home is bright and inviting. It offers an open concept on the first floor with the great room opening to a large waterfront screened porch and upper sun deck, creating the ideal layout for entertaining. The beautifully updated kitchen features crisp white cabinetry, tiled backsplash, stainless steel appliances and gorgeous hardwood flooring throughout the kitchen and main living areas. With 4 bedrooms plus a spacious loft, this home offers plenty of room for friends and family to gather at the beach. Situated on a quiet street with no thru traffic, ride your bike to the

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Source: http://www.delawaregardens.org/


The Delaware Botanic Gardens celebrated the official opening of the 2022 season on March 17th, 2022 with a ribbon cutting ceremony to commemorate the grand opening of its 800-square foot rustic cedar restroom facility. The beautiful new building features a living wall of plants fed by rainwater and a native plant rain garden.

For more information, please click here or visit Delaware Botanic Gardens online at http://www.delawaregardens.org/.

 

 



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Dreaming of summer? Introducing 105 Georgetowne House in the highly sought after community of Sea Colony East. This beach front, 1st floor, 3 bedroom, 2 bath condominium offers fabulous ocean views up and down the coastline and a walk out balcony that is just steps to the sandy shores of the Atlantic. A coastal, contemporary interior design welcomes you with hardwood laminate flooring in living areas and bedrooms, beautifully upgraded open kitchen with white glass front cabinetry, beveled granite countertops, lovely surround backsplash, stainless Frigidaire appliances and deep undermounted sink. White dining farm table seats 8 for family and friends to dine on local coastal cuisine and then retreat to newly furnished and beachy appointed living area

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Each year, the Town of Bethany beach invites amateur and professional photographers to submit photos for the town's annual photo contest.  The 2022 grand prize was awarded to Maryfrances Berger in recognition of her stunning "Running with the Gulls" photo.

To view all the winning photos, which will be featured in the 2022-2023 Town of Bethany Beach calendar, please click here.

 

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We continue to experience multiple offers in most situations at the beach!  Find out what's happening on a National scale in the following Realtor.com article.

The spring market is already blooming, and so is the competition. Buyer competition intensified ahead of spring in February and likely will intensify further over the next few weeks.

On average, there were nearly five offers for every home sold in February, higher than in recent months, according to the February 2022 REALTORS® Confidence Index Survey. Real estate professionals who were surveyed reported more than five offers, on average, in Massachusetts, Georgia, Texas, Colorado, Utah, Washington, and California.

Nationwide, 48% of buyers’ offers were above the list

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We are now into the month of March and are looking forward to the longer, light filled days ahead! Looking back on the first two months of 2022, real estate activity was extremely competitive with the continuation of deficient inventory and we experienced multiple offers in many situations. Real estate values are still on the rise. We have said this many times before: it is hard to predict how long this environment will last!

As the chart illustrates, total sales in Ocean View were up 6% when compared to the same time last year as inventory remains at record lows. Meanwhile, sales volume in dollars (based on list price) was up even more at 23% ! Properties continued to sell very quickly. The average sales price for properties settled in January and

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Located just a few miles west of Bethany Beach, the Dickens Parlour Theatre will celebrate the grand opening of its new 5,000 square-foot dinner theater on Friday, March 25, 2022.

In partnership with Good Earth Market & Restaurant located on Route 26 in Ocean View, Delaware, the new facility will feature a 90-seat dinner theater with gourmet food prepared by Good Earth's culinary team.  Additional space for hosting special events will be offered as well.

For more information and show schedules, please click here.

 

 

 

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We are now into the month of March and are looking forward to the longer, light filled days ahead! Looking back on the first two months of 2022, real estate activity was extremely competitive with the continuation of deficient inventory and we experienced multiple offers in many situations. Real estate values are still on the rise. We have said this many times before: it is hard to predict how long this
environment will last!

As the chart illustrates, total sales in Bear Trap were down 50% when compared to the same time last year as inventory remains at record lows. Meanwhile, sales volume in dollars (based on list price) was down much less, at 22%.   Properties continued to sell very quickly. In fact, all 7 properties that went under contract

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