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 on the Delaware Coast. Ocean View and Bear Trap Dunes are no exception.
Total sales and prices are trending in a positive direction for both Ocean View and Bear Trap. 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 increases that we are experiencing today. In fact, median sale prices are up between 3% and 6%, depending on the property type and specific location when compared to 2017.
It’s never too early to begin strategizing! Please give us a call at 302-541-5207 to discuss how to maximize the results when buying or selling your property in the current conditions.
*Data was derived from the Sussex County MLS. Includes new contracts on properties in Ocean View and Bear Trap Dunes, respectively. It may not reflect all activity in the marketplace.