While the winter weather was not ideal to encourage buyers to visit during the first quarter of 2018, the beach real estate market was strong. In fact, conditions are more favorable today that they have been in over a decade from North Bethany to Fenwick Island and Sea Colony is no exception.
Total sales, prices and the pace of sales are all trending in a positive direction for property owners on the West. For the last few months, we have communicated to you that the combination of high buyer activity and shrinking inventory would ultimately lead to the price rebound that we are experiencing today. In fact, the median sale price is up 3% when compared to 2017. While total sales and sales volume statistics for the first quarter in Sea Colony East are not as impressive, these numbers do not always tell the whole story! Recall that 2017 was a banner year with exponential growth. The market conditions are still strong, as indicated by the rise in median sale price.
It’s never too early to begin strategizing! Please call our Sea Colony experts, Gail Phelan 302-233-4909 and Despina Kaneles 302-236-2428 to discuss how to maximize the results when buying or selling your property in the current conditions.