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!
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.