The Leslie Kopp Group's Beach Real Estate Blog

For much of 2017, we communicated to you that sales activity was strong while inventory was shrinking in Bear Trap, so it was no surprise to see that our January absorption rates show a trend to a seller’s market.

Bear Trap Dunes Absorption Rates 2017

Absorption rates tell us how many months it will take to sell all existing homes for sale at the current pace of sales. Generally speaking, 7 months of inventory is a neutral market, more is a buyer’s market, less is a seller’s market. Absorption rates are as low as we have seen in many years for both single family homes and for condo/townhomes at Bear Trap.

If we can be of assistance buying or selling real estate in Bear Trap, please call our Bear Trap experts:

Gail Phelan (302) 233-4909   & Despina Kaneles (302) 236-2428.        

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GENERAL MANAGER’S REPORT – February 16, 2018
To Sea Colony Homeowners
From Tom Olson

What’s Happening at Sea Colony? We began the New Year with a full 14-inch snowfall on Jan. 4th.   High winds and frigid temperatures added even more challenge, but our maintenance crews responded quickly keeping all roads and walkways open for emergency access while monitoring buildings for freezing pipes. We hope we’ve seen the last snowstorm for the season as we’re already focusing on summer 2018 and the many projects to be completed before then.    We are anxiously awaiting the arrival of a new beach tram as we begin a multi-year program to replace and upgrade our aging fleet.  The new tram features the latest diesel power technology, which should minimize breakdowns

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bethany beach real estate absorption rates

 

We are often asked whether it is a buyer’s market or a seller’s market at the beach. Knowing the Months of Inventory available helps to determine the type of market. Absorption rates tell us how many months it will take to sell all existing homes for sale at the current pace of sales. Generally, 7 months of inventory is a neutral market, more is a buyer’s market, less is a seller’s market.

The areas of South Bethany (4 months) and Bethany Beach (6 months) are both a seller’s market for single family homes. North Bethany and Fenwick Island are technically in a buyer’s market with 12 months of inventory. However, several properties recently listed for sale went under contract within a few days and some homes received multiple offers very

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South Bethany Real Estate Sales

After significant strengthening from 2014 to 2016, the South Bethany market remained robust in 2017. Activity was on pace to end the year with even more impressive numbers, but the uncertainty of impending tax reform and limited inventory in many areas contributed to a temporary slow down late in the year.

We are pleased that the final tax bill is significantly better for homeowners than early versions. The continuation of low inventory in most areas at the beach is positive for property owners and makes it extremely important for buyers to work with an experienced agent.

View all property for sale in South Bethany. 

Leslie Kopp

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Bethany Beach 2017 Real Estate Market Report

After significant strengthening from 2015 to 2016, the Bethany Beach market held firm in 2017. Activity was on pace to end the year with even more impressive numbers, but the uncertainty of impending tax reform and limited inventory in many areas contributed to a temporary slow down late in the year.

We are pleased that the final tax bill is significantly better for homeowners than early versions. The continuation of low inventory in most areas at the beach is positive for property owners and makes the coming months an opportune times to list.   We are pleased to have participated in more Bethany Beach real estate transactions than any other agent or group in 2017 and we are overwhelmed with gratitude for your continued confidence in us.    

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Fenwick Island Real Estate Report 2017

After significant strengthening from 2015 to 2016, the Fenwick Island market remained robust in 2017. Activity was on pace to end the year with even more impressive numbers but the uncertainty of impending tax reform and limited inventory in many areas contributed to a temporary slow down late in the year. We are pleased that the final tax bill is significantly better for homeowners than early versions.

We are grateful to have participated in more Bethany-Fenwick real estate transactions than any other agent or group in 2017 and we are overwhelmed with gratitude for your continued confidence in us!

Click here to search all Fenwick Island Real Estate for sale.

Leslie Kopp
(302) 541-5207

 

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North Bethany Real Estate Market Report 2017

After solid strengthening from 2015 to 2016, the year-end report for North Bethany tells us that the market softened significantly in 2017, but we disagree. The numbers do not tell the whole story.

Limited inventory was a big factor in 2017, particularly for homes one-off the ocean and mid-beach block. What appeared to be sufficient inventory to meet buyer demand throughout the year was simply not. Indicative of this is the fact that nearly half of the properties sold in 2017 went under contract within 5 weeks from being listed for sale. Buyers have been very patient but do move quickly when the right property becomes available.  
Click here to search all real estate for sale in North Bethany.

Leslie Kopp
(302) 541-5207

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Sea Colony Year End Numbers

After the market experienced some softening in SC East from 2015 to 2016, sales surged on the East in 2017. Sales held steady on the West in 2017 while prices declined some. This is the result of the types of properties sold, not necessarily an over all softening of values. 

Activity was on pace to end the year with even more impressive numbers, but the active hurricane with the uncertainty of impending tax reform and limited inventory contributed to a temporary slow down late in the year.  We are pleased that the final tax bill is significantly better for homeowners than early versions. We have already felt an increase in activity in early 2018. 

On a personal note, the Leslie Kopp Group hit a big milestone in 2017, having surpassed $150

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There is no question that the pending tax reform bill has weighed heavily on the minds of buyers and sellers over the previous few weeks and although the final tax reform bill is certainly not perfect, we are pleased that it is significantly better for homeowners than previous versions.

Mortgage interest deductions have been reduced to a combined $750,000 of loan debt for primary residences and second/vacation homes. New homebuyers can deduct interest on up to $750,000 of combined mortgage debt. Current homeowners are grandfathered into the previous deduction to a combined debt limit up to $1 million. Proposals to eliminate the mortgage interest deduction on second and vacation homes were not passed with the new laws.

Interest

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Holiday Happenings in Bethany Beach

The first three Saturdays in December will bring the Bandstand back to life!  Gather with friends and family to spread some holiday cheer around the tree with performances by a different group each week.  We encourage you to bring hats, gloves, scarves, and canned goods to be donated to local charities. 

     December 2:  The Christmas Carolers

     December 9th:  The Mariner's Bethel Praise Band

     December 16th:  The Southern Delaware School of the Arts Show Choir

 

 

Visit the town's website for additional details: https://www.townofbethanybeach.com/367/Holiday-Happenings

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