February 2017

Found 4 blog entries for February 2017.

I usually expect to see an increase in real estate activity over President’s Day weekend and with temperatures in the 70’s, there was added encouragement for buyers to come to the beach this year. They certainly did !   My group alone is in negotiations on nearly a dozen transactions as the result of weekend activity.      

Year-to-date, new contracts on single family homes from Fenwick Island to North Bethany are up 35% from 20 in 2016 to 27 in 2017. New contracts on condo/townhomes are up 53% from 13 last year to 20 in 2017. 

In addition to stunning weather so far this year, the stock market has reached and exceeded record heights, interest rates continue to hover well below the historical average and a reduction in supply (especially in areas closest

543 Views, 0 Comments

From: Tom Olson, Sea Colony General Manager

February 17, 2017

We’re having a busy winter at Sea Colony. I’m pleased to send you the first quarterly update for the year.  

Freeman Fitness Center:  Winter activities continue to be strong with membership and activity sales exceeding expectations and topping $150k in total sales YTD.  Outside, contractors are working steadily to complete improvements to the outdoor pool which is slated to reopen this summer. Putting the finishing touches on the building, an entrance canopy is scheduled to be placed at the front entrance and corrective work to the locker room shower drains is slated for March.   As work continues, we’re pleased to announce the annual “Ride for Hospice” will be held on Saturday,

659 Views, 0 Comments

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 year-end absorption rates as they are a good indicator of the future direction of prices.

In general, seven months of inventory is considered the point at which we anticipate the market turning from a buyer’s market to a seller’s market. In turn, with less than seven months of inventory, we expect some upward movement of prices.

As the chart below illustrates, the year-end absorption rate in Bear Trap Dunes for single family homes was 18 months. This is improved from a seller’s perspective over 22.5 months at the end of 2015. The condo/townhome supply of inventory at the

409 Views, 0 Comments

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. You may recall from previous blogs that we like to look at year-end absorption rates as they are a good indicator of the future direction of prices.

In general, seven months of inventory is considered the point at which we anticipate the market turning from a buyer’s market to a seller’s market. In turn, with less than seven months of inventory, we expect some upward movement of prices.

Absorption Rates at the Beach

Buyer activity at the beach has been strong and as the chart illustrates, all beach towns from Fenwick to North Bethany experienced a significant drop in absorption rates from 2015 to 2016.  Bethany Beach

374 Views, 0 Comments

Sign up for email updates