Delaware Beach Real Estate Blog

Wayne Lyons Celebrates 25 Years in Real Estate

Connect with Wayne Lyons:  https://www.bestofbethany.com/agent/wayne-lyons/

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Prices Rise More than 30% in Bethany-Fenwick Area

Labor Day weekend has come and gone, signaling the unofficial end of another season at the beach and the Summer of 2021 is certainly one that we will not soon forget! 

Buyer demand in the Bethany-Fenwick area was as strong as we have ever experienced, multiple offers with very few (if any) contingencies were the norm, and there was the least amount of inventory ever available for sale in our multiple list service which goes back to 2005.  Year-over-year prices are up more than 30% for both single family homes and condo/townhome property types and new listings are selling in less than 1 week as the median days on market is just 6 days.

We have experienced some price resistance from buyers in recent weeks which is something we will continue to…

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INVENTORY SHORTAGES CONTINUE IN BEAR TRAP DUNES

For more than a year now, we have shared with you that the beach real estate market has been extremely strong for sellers with limited inventory leading to rising prices.

This trend has continued and as of August 1, there were 2 properties for sale in Bear Trap versus 1 last year at this time and 12 in 2019. There continues to be pent up buyer demand as inventory cannot keep pace and many properties are selling within just a few short days!  

As we look toward the fall and winter months, we anticipate a rise in new listings and there is no way to predict how long these conditions will last.  Please give our Bear Trap expert Gail Phelan a call if we can offer you any guidance: (302) 233-4909.

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INVENTORY SHORTAGES CONTINUE IN OCEAN VIEW

For more than a year now, we have shared with you that the beach real estate market has been extremely strong for sellers with limited inventory leading to rising prices.

This trend has continued and as of August 1, there were 45 properties for sale in Ocean View versus 97 one year ago and 185 in 2019. There continues to be pent up buyer demand as inventory cannot keep pace and many properties are selling within just a few short days! 

As we look toward the fall and winter months, we anticipate a rise in new listings and there is no way to predict how long these conditions will last.  If you are considering a sale or looking to purchase, please give us a call.

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INVENTORY SHORTAGES CONTINUE IN SEA COLONY

For more than a year now, we have shared with you that the beach real estate market has been extremely strong for sellers with limited inventory leading to rising prices. This trend has continued and as of August 1, there were 6 properties for sale in Sea Colony versus 8 one year ago and 51 in 2019. There continues to be pent up buyer demand as inventory cannot keep pace and many properties are selling within just a few short days!  

As we look toward the fall and winter months, we anticipate a rise in new listings and there is no way to predict how long these conditions will last. If you are considering a sale or looking to purchase, please call our Sea Colony Experts: Gail Phelan 302-233-4909 or Despina Kaneles 302-236-2428.

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Inventory Shortages Continue in the Bethany-Fenwick Area

For more than a year now, we have shared with you that the beach real estate market has been extremely strong for sellers with limited inventory leading to rising prices. This trend has continued and as of August 1, there were 35 properties for sale in the Bethany-Fenwick area versus 101 at this time last year.

In the month of July, 37 properties went under contract (versus 67 in July of 2020). During the month, 38 new properties were listed for sale (versus 59 new listings in July of 2020). There continues to be pent up buyer demand as inventory cannot keep pace and many properties are selling within just a few short days! 

As we look toward the fall and winter months, we anticipate a rise in new listings and there is no way to predict how…

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Strongest Seller’s Market on Record Continues - Sea Colony

Twice a year, we calculate and share absorption rates with you and hope that it puts the current market into perspective when compared to recent years. There is no question that we are currently in the strongest seller’s market on record.

Absorption rates tell us if we are trending in the direction of a buyer’s or seller’s market by comparing the pace of sales over the last 12 months with inventory levels.   A balanced market would have 7 months of inventory, more would be a buyer’s market and less a seller’s market. All areas currently have only 1 month of  inventory for sale!    

If you are considering a sale or looking to purchase, please call our Sea Colony Experts: Gail Phelan 302-233-4909 or Despina Kaneles 302-236-2428.

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Strongest Seller’s Market on Record Continues - Bear Trap

Twice a year, we calculate and share absorption rates with you and hope that it puts the current market into perspective when compared to recent years. There is no question that we are currently in the strongest seller’s market on record.

Absorption rates tell us if we are trending in the direction of a buyer’s or seller’s market by comparing the pace of sales over the last 12 months with inventory levels.   A balanced market would have 7 months of inventory, more would be a buyer’s market and less a seller’s market. There is currently less than 1 month of inventory for sale!

If you are considering a sale or looking to purchase, please give us a call.

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Strongest Seller’s Market on Record Continues

Twice a year, we calculate and share absorption rates with you and hope that it puts the current market into perspective when compared to recent years. There is no question that we are currently in the strongest seller’s market on record.

Absorption rates tell us if we are trending in the direction of a buyer’s or seller’s market by comparing the pace of sales over the last 12 months with inventory levels.   A balanced market would have 7 months of inventory, more would be a buyer’s market and less a seller’s market. All areas currently have only 1 month of inventory for sale!   

If you are considering a sale or looking to purchase, please give us a call.

*Data was derived from the Sussex County MLS. Includes contracts on properties in…

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Bethany Beach-based Leslie Kopp Group ranked 12th in the Nation

 REAL Trends’ The Thousand list ranked Bethany Beach-based Leslie Kopp Group 12th in the Nation.

BETHANY BEACH, Del., June 17, 2021 – The Leslie Kopp Group, of Long & Foster Real Estate, has been named as one of the top real estate teams in the nation. The Bethany Beach, Delaware-based group, led by Leslie Kopp ranked 12th nationwide based on its 2020 sales volume in the medium teams category, according to the annual REAL Trends’ The Thousand list.

“We are honored to be recognized as one of the top real estate groups in the country, and we worked harder than ever in 2020 to achieve this level of success, especially with the added challenges that we faced with Covid.” Kopp said. “This ranking is reflective of our commitment to excellence and…

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