Delaware Beach Real Estate Blog

Summer Momentum Stays Strong thru Labor Day

Warm sunny days and cool nights make September and October our favorite months at the beach. We hope that you are enjoying this special time of the year!

On a typical Labor Day afternoon, the beaches thin out and our roads quiet. That was not the case this year. Following a summer that set records, we could see a Fall real estate market like never before. It is more common than ever for us to see multiple offers on properties shortly after they are listed for sale and buyers are often waiving contingencies such as financing and home inspections to be competitive.

Now is an opportune time to list your property for sale or begin your search for a new beach home. Please give us a call.

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Bethany Beach Sales Continue to Surge, Inventory Shortage

Last month, we shared that we were in a strong seller’s market at the beach with increasing real estate sales and declining inventory. This trend continued in July as 47 properties went under contract in Bethany Beach versus 29 during the same month last year. Inventory continues to fall as there were just 28 new listings added in July.

Year-to-date, sales are up 26% in Bethany Beach. There is no question that this increase would be much higher if there were more properties available for sale. As the chart illustrates, there is about one third of the inventory available when compared to last year (43 properties versus 131).

So far this year, our group has had the fortunate opportunity to participate in 35% of homes sold in the Bethany-Fenwick…

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Record-Shattering Month, Seller’s Market at the Beach

A few weeks ago, we reported that during May of 2020, 55 properties (single family & condo/townhomes) went under contract in the Bethany-Fenwick area. This was the highest number of sales ever recorded for one month in our current multiple list system which goes back to 2005. New contracts in June were nearly 50% higher at 81! With this in mind, we are understandably in a strong seller’s market at the beach.

Twice a year, we calculate and share absorption rates with you. This statistic tells 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. Generally speaking, 7 months of inventory or less is considered a seller’s market, more than 7 months is a…

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Record-Breaking May, Strong Sales Continue into June

Last month, we reported to you that after a 6-week slowdown due to COVID-19,  activity was trending in a more positive direction and our group was negotiating several offers in early May.  We are pleased to report that the pace of sales has continued to accelerate!

During May of 2020, more properties went under contract in the Bethany-Fenwick area in a single month than any other month recorded in our current multiple list system (which goes back to 2005).  As the chart illustrates, a total of 55 properties were put under contract as both single family and condo/townhome sales far
exceeded 2019.  There has been no slowdown with 21 additional sales in the first week of June alone.

Year-to-date, the market is…

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Bethany’s Beach to Remain Closed

The Town of Bethany Beach held a Town Council meeting yesterday, April 30, 2020.  During this meeting, council members voted that the beach and boardwalk would remain closed at least through May 31, 2020 and all special events would be cancelled until July 15th, including the 4th of July parade and fireworks.

We feel for the businesses, homeowners and visitors that are impacted greatly by these restrictions, but we recognize that our town officials are required to abide by the Governor’s orders and must follow the CDC Guidelines to keep our community safe and healthy.  Below is a summary of the items that were implemented:

1) The beach and boardwalk will remain closed to the public through May 31, 2020 or when the Governor moves the State into the…

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COVID-19 Slowdown at the Beach

First and foremost, we hope you and your loved ones are safe and healthy as together, we navigate the COVID-19 epidemic.  Two weeks ago, we promised to maintain our communication and share facts about what we are experiencing at the beach.

On March 15th, sales were up a significant 93% for the month as 27 properties had been put under contract in the Bethany-Fenwick area.  Of those 27 contracts, 7 have cancelled. As the chart illustrates, in the last 2 weeks of the month, sales were down 53%.  Nine properties went under contract compared to 19 during the same time last year.  Activity has certainly slowed, but our group continues to write and receive offers.  We feel fortunate to have the…

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Bethany Beach Market Update

Our hearts go out to anyone who has been impacted by Coronavirus, COVID-19, whether directly or indirectly. Conditions are continuously changing and the long-term impact on the economy and the real estate market is not yet known. We will do our best to summarize what we are experiencing at the beach, as of today, March 17th.

Since March 1, 2020, 28 properties have gone under contract in the Bethany-Fenwick area. This is up 100% compared to 14 during the same time in 2019. This past weekend, our listings had a combined 25 showing appointments which is down 29% from the 35 during the second weekend of March in 2019. Understandably, a few clients have pulled back due to the uncertainty in the market. In most situations, we feel this is…

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What to do While Social Distancing

Here is a list of activities for you and your family to enjoy while still practicing social distancing:

- Go for a bike ride or walk around your neighborhood for some fresh air.
- Plan a family game night with your favorite board game or charades.
- Bring your binoculars and go bird watching.
- Go for a nature walk and create your own scavenger hunt.
- Enjoy a sunset.
- Support a local restaurant and avoid the crowded grocery stores, purchase carry out.
- Pop some popcorn and put on your favorite movie.
- Get rid of those weeds and prepare your garden ready for Spring.
- Plan a time with family or friends to video chat so you can connect even from afar.
- Put out a bird feeder
- Be on the look out for Tulips by following Town of Bethany Beach Horticulture on…

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Positive Start for Bethany-Fenwick

While the stock market has shown volatility in recent weeks, the beach real estate market has remained very firm.  Mild winter weather and exceptional interest rates have contributed to strong buyer activity early in the year.

As the chart illustrates, total sales are up 6% to-date when compared to the same time last year and sales volume in dollars (based on list price) is up 18%.   Properties are selling almost a month faster, on average, when compared to 2019.  So far this year, 14 properties listed for $1million+ have gone under contract in the Bethany-Fenwick area.  This is up 43% over the same time last year as demand for homes East of Rt 1 has been notably high.

With the Spring season just around the corner, now is an opportune time to…

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