August 2017

Found 8 blog entries for August 2017.

We are more than half way through the year and buyer activity has remained strong as sales continue to outpace new listings. In Bethany Beach, 12 single family homes and 18 condo/townhomes went under contract in July. This compares to 9 and 20, respectively, in 2016.

As the chart illustrates, from January through July, single family home sales were down versus a strong 2016. This is the result of low inventory; it is not a reflection of reduced buyer demand. On August 1st, there were 64 single family homes for sale in Bethany. This is down 55% compared to one year prior when 103 homes were actively for sale!

Bethany Beach Real Estate Sales Statistics August 2017  

Importantly, higher-end sales surged as 20 properties valued at over $1 Million went under contract compared to 14 in 2016 and 5 in 2015.

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We are more than half way through the year and the beach real estate market continues to trend in a positive direction for property owners. Buyer activity has remained strong and sales continue to outpace new listings. In your community of South Bethany, single family home sales doubled in July as 6 homes went under contract compared to 3 in 2016.

 South Bethany Real Estate 2017

As the year-to-date chart illustrates, 21 single family homes went under contract from January through July. This is down 13% from 24 in 2016, but it is up 17% compared to 2015. Both the median list price of homes sold and the average days to contract improved over the previous two years.

Importantly, lots sales have more than tripled to-date compared to prior years. Limited single family inventory is

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We are more than half way through the year and overall real estate conditions continue to trend in a positive direction for property owners at the beach. Buyer activity remains strong and sales continue to outpace new listings.

Fenwick Island Real Estate 2017
As the year-to-date chart illustrates, 12 single family home sales from January through July matched activity in 2016 while sales volume in dollars is up 22%. Meanwhile, condo/townhome sales through July have doubled compared to last year ! There are currently 44 properties for sale in Fenwick Island versus 60 during this same time in 2016.

Importantly, while $1 million+ sales are relatively flat in Fenwick, there has been a significant rise in neighboring Bethany Beach with 20 properties valued at over $1 Million going under

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The numbers do not tell the whole story. We are more than half way through the year and while the MLS data tells us North Bethany has experienced some decline in sales activity compared to recent years, overall real estate conditions continue to trend in a positive direction. Buyer activity remains strong and sales continue to outpace new listings.

North Bethany Real Estate 2017 

As the year-to-date chart illustrates, new contracts on single family homes are down 27% while condo/townhome sales are flat compared to 2016. This slowdown is the result of limited inventory, not the reduction of buyer demand. There are currently 30 properties for sale in North Bethany while one year ago, 51 properties were on the market. 

It is also important to note that while $1 million+ sales in

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We are more than half way through the year and real estate sales continue to surge in Bear Trap Dunes. As the year-to date chart illustrates, new contracts on single family homes and condo/townhome are up 200% and 10% respectively when compared to January through July of last year.

Bear Trap Dunes Real Estate 2017
It is extremely positive to see upward movement in median prices for both property types. Additionally, properties are selling nearly 2 months quicker than in years past.

It is never too early to begin strategizing about a future purchase or the future sale of your home. Please call our Bear Trap Specialists to discuss the market
conditions as they relate to your individual property:   Gail Phelan 302-233-4909   |   Despina Kaneles 302-236-2428

Our group is pleased to

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We are more than half way through the year and sales activity in Sea Colony East continues to be exceptional. As the year-to-date chart illustrates, new contracts are up 32% when compared to January through July of 2016. Importantly, there has been a nice rebound in days to contract as properties are selling nearly two months more quickly this year compared to 2016.

Sea Colony Real Estate 2017 Market Conditions in Sea Colony East

With this in mind, there are currently 38 properties for sale on the East while one year ago, 32 properties were on the market. This means that while activity is strong, competition among listing continues to keep prices relatively stable.


As we have communicated with you many times in the past, it is never too early to begin strategizing about a future purchase or the future sale of

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We are more than half way through the year and overall sales activity in Sea Colony West continues to be exceptional when compared to 2016.

As the year-to-date chart illustrates, new contracts are up 28% when compared to January through July of last year. Importantly, however, limited inventory of properties in the $500,000 range and up has resulted in a reduction in higher dollar sales and a   lower median list price. There are currently 42 properties for sale on the West while one year ago, 63 properties were on the market.   Just one of these 42 active listings is above $500,000.  

 Sea Colony West Real Estate 2017

As we have communicated to you many times in the past, it is never too early to begin strategizing about a future purchase or a future sale. Please call our Sea

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General Manager’s Quarterly Report

Courtesy of Tom Olson
August 12, 2017

 

We’re having a great summer! The beach is full, the fitness center bustling and tennis courts are packed. Our weekly bonfires, money hunts and the regular bingo nights are more popular than ever. To summarize: all recreational facilities have operated without interruption, our recreation, tennis and aquatics teams have planned and executed a full summer season and our Security,  Housekeeping and Maintenance teams have been extremely busy in keeping Sea Colony’s facilities safe and ready for peak season activity.  Our Security Department has also increased rules enforcement including the monitoring of Westway Drive traffic and badge checks at beach crossovers.

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