July 2016

Found 3 blog entries for July 2016.

You might recall from previous messages that absorption rates tell us how many months it will take to sell all existing inventory at the current pace of sales, if no new listings were added to the market. We like to look at absorption rates twice a year, on December 31st and again on June 30th as the trend can help indicate the direction of future prices.

As of June 30th, there were 37 condos for sale in Sea Colony East and 35 properties sold during the 12 months prior. This tells us the absorption rate is 13 months.  Sea Colony West had 59 condo/townhomes for sale on June 30th and 45 properties sold during the 12 months prior. This tells us the absorption rate is 16 months.

Sea Colony Absoprtion Rates 2016
*This data is derived from the Sussex County MLS and included

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If you have been following our market updates, you might recall from previous messages that absorption rates tell us how many months it will take to sell all existing inventory at the current pace of sales, if no new listings were added to the market. Our mid-year absorption rates are important as inventory tends to be near its peak and we look at 12 months figures to eliminate the seasonality of the numbers.    

The graph shows current absorption rates ranging from 9 to 39 months at the beach which means we continue to be in a buyer’s market. In general, when supply is than 7 months, it is considered a buyer’s market, anything less is considered a neutral or seller’s market. This is a good benchmark, but price, condition and locations vary

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Courtesy of The Coastal Point
By Kelsey Magill, Point Intern

For years, one of Bethany Beach’s greatest attractions has been nestled amongst its best-kept secrets.

The town’s heritage walking trail — which, according to Carol Olmstead, chairwoman of the Town’s Cultural & Historic Affairs Committee, has been around several years now — offers a glimpse into the rich history and sometimes tumultuous past of the once-sleepy beach community.

Outlined in colorful pamphlets available in the front lobby of the Bethany Beach Town Hall, the trail includes more than a dozen buildings and sites that meet the committee’s two primary criteria: being built before 1930 and, according to Olmstead, “appearing primarily the way it did when it was first built.”

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