October 2015

Found 10 blog entries for October 2015.

This not Bethany Beach Real Estate related, but it is an interesting article on a rare species of firefly found on and around our beaches from North Bethany to Fenwick Island.

Bethany Beach Firefly

Courtesty of Rachael Pacella, DelmarvaNow 

Think back to those summer nights at the beach — in the dunes by the shore did you ever spot a firefly?

When you saw it, did it look different than the others, with a bright green light instead of a warm yellow glow? Did it flash twice, not once?

If so, you saw one of the rarest creatures on earth, the Bethany Beach firefly, which only occurs along the coast of Delaware, mostly from the Indian River Bridge and south, according to Delaware State University Associate Professor Christopher Heckscher. He helped rediscover the

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Courtesy of The Coastal Point, October 9, 2015

Reporter Laura Walter  

The Delaware State Legislature has made a number of changes to the Beach Preservation Act in past decades, and the Delaware Department of Natural Resources and Environmental Control (DNREC) is now trying to put those changes into action by writing new regulations for beachfront building and use.

The Division of Watershed Stewardship’s Shoreline & Waterway Management Section held two public workshops in September to discuss proposed changes to Delaware’s Regulations Governing Beach Protection and the Use of Beaches.

The changes include both requirements from Delaware’s state legislature and changes DNREC officials said they felt were

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We are three quarters of the way through the year and a comparable look at single family home and condo/townhome settlements to-date shows us that both markets are relatively flat to last year. This is significant, particularly for the single-family home market as settlements are down in many of the neighboring beach towns. 

Bethany Beach Real Estate Market Update 
The data provided was derived from the Delaware MLS and covers properties settled in Bethany Beach. It may not reflect all activity in the marketplace.

As the chart indicates, the number of single family homes that have settled this year increased a nominal 2% while sales volume in dollars is down 1%. Median sales price is down 20%, driven by a 33% decrease in high-end sales of $1 million or more. Importantly, there is notable

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While some neighboring beach communities have experienced an increase in year-over-year real estate sales activity for 2015, North Bethany has not followed suit. I believe this is representative of the softer high-end market when compared to a strong 2014.  Inventory is also a factor as I have a number of clients actively looking in North Bethany, but current properties on the market do not meet their needs.       

As the chart below indicates, single family home settlements are down 22% and sales volume in dollars is down 18% year-to-date in North Bethany when compared to 2014. Median sales price is down 22% for properties that have settled this year. After a strong first half of the year, the third quarter was exceptionally slow.  Three single family

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We are three quarters of the way through the year and a comparable look at single family home settlements to-date in South Bethany shows us that activity is up considerably compared to each of the last two years.  This is significant as settlements are down in many of the neighboring beach towns. 

As the chart below indicates, the number of single family homes that have settled this year increased an astounding 44%.  However, even with this surge in settlements, sales volume in dollars is down 1% and median sales price of homes sold is down 33%.  These reductions are driven by a 20% decrease in high-end sales and are also the result of the sizable amount of inventory being offered for sale this year. Owners have had to price competitively to sell in

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While some neighboring beach communities have experienced an increase in year-over-year real estate sales activity for 2015, Fenwick Island real estate activity is mixed.  Coming out of the 3rd quarter, single family home settlements are down 33% and sales volume in dollars is down 44%.  Meanwhile, condo/townhome settlements are up 50% and sales volume is up 4%. Median sales price and the number of properties that settled for over $1 million  are down for both market segments when compared to a strong 2014, but there is some improvement compared to 2013.

 Fenwick Island Real Estate 2015

The data provided was derived from the Delaware MLS and covers properties settled in Fenwick Island. 
It may not reflect all activity in the marketplace.

I wish there were better news to report

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The Leslie Kopp Group is extremely proud to support this wonderful cause! 

Bethany Beach Shows the Love for Wounded Vets

Compliments of Delaware Today
By Drew Ostroski:

Operation Seas the Day, Bethany Beach 

 

Already helping more than 300 hometown heroes, Operation SEAs The Day shows no signs of slowing down.

The good folks of Bethany Beach have established a great model. Now it’s up to other towns in Delaware the rest of the country to follow their lead.

Several years ago, a few acquaintances got together over wine and hatched the idea of Warrior Beach Week. Then they established the nonprofit Operation SEAs The Day and organized a weeklong vacation in Bethany for wounded soldiers and their families.

The 2015 event was held the week of Labor Day, which included the

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We are three quarters of the way through the year and a comparable look at condo/townhome settlements to-date shows us that activity is relatively flat to 2014. During the first 3 quarters of 2014 and 2015, 43 condo/townhomes settled. Sales volume, days-to-contract and list-to-sell price ratios are also flat compared to last year while median sales price is down a significant 18%.          

Sea Colony West Real Estate Analysis 2015 Q3

*This data was derived from the Delaware MLS for condos in Sea Colony West. It may not reflect all activity in the marketplace.  

Activity slowed considerably in the month of September. While 49 condo/townhome were offered for sale, no properties in Sea Colony West went under contract. This compares to seven new contracts in September of 2014 and nine in

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We are three quarters of the way through the year and a look at settlements to-date shows some improvement compared to 2014. So far this year, 21 properties have settled, up 17% compared to 18 during the same time period last year. Sales volume in dollars is up a significant 42% and average days-to-contract and list-to-sell price ratios are both trending in a good direction.    

Sea Colony East Real Estate Analysis 2015 Q3

*This data was derived from the Delaware MLS for condos in Sea Colony West.  It may not reflect all activity in the marketplace.  

This is all good news. However, recent activity for September shows some slowing of the market. Just one property went under contract in Sea Colony East during the month of September. To put this into perspective, four properties were put

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November 12, 2015 Bethany Beach Nor'easter Update, Compliments of Rachael Pacella, Delmarva Now

On an early afternoon run Chris Racine of Bethany Beach paused at the top of a sand dune to take a picture of the ocean.

He was standing at the top of a dune that, while intact, still has a scar from severe erosion that occurred in early October during a Nor'easter-like storm. The erosion carved a cliff taller than a person into the sand dune, which still remains.

Racine isn't worried about it.

"Pretty normal after a storm," he said. "It did its job, protected the houses and all that," he said.

Racine was able to get down to the beach easily because access has been restored to boardwalk entrances. Where there was yellow caution tape a month ago,

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