Delaware Beach Real Estate Blog - Leslie Kopp

Strong Start To 2025 & Rising Inventory In Ocean View

March has arrived and after a winter with multiple snow storms in a few short months, we are grateful for warmer, light-filled days ahead!

As the chart illustrates, Ocean View had a strong start to the year for real estate activity. Through the first two months of 2025, 56 properties went under contract, which is up 12% compared to last year and sales volume in dollars (based on list price) was up 11%. Properties sold more quickly and the average sale price was up 13%. There has been a notable increase in available inventory, which is something we will continue to monitor.

As always, if we can help you with your real estate goals or needs, please reach out: (302) 541-5207

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Fenwick Island considers rental tax adjustment amid Statewide changes

Credit to: Coast TV, Kevin Zipay

Taxes fluctuate almost every year, and Delaware is no exception. This year, the state has implemented a 4.5 percent tax on all short-term rentals. In response, the Fenwick Island Budget and Finance Committee is evaluating potential changes to its own rental tax policies. Currently, short-term rental properties in Fenwick Island are taxed at a higher rate than hotels. When combined with the new state tax, short-term rentals are now subject to a total tax rate of 12.5 percent, while hotels pay only 11.5 percent.

With summer approaching, vacationers will soon flock to Fenwick Island, filling hotels and rental properties along the coast. Among them will be Bruce Bogdanski, who plans to book a hotel for his fishing…

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Strong Start To 2025 & Rising Inventory In Bear Trap

March has arrived and after a winter with multiple snow storms in a few short months, we are grateful for warmer, light-filled days ahead!

As the chart illustrates, Bear Trap had a strong start to the year for real estate activity. Through the first two months of 2025, 7 properties went under contract in this community compared to 4 last year and sales volume in dollars (based on list price) doubled. Properties sold much more quickly and the
average sale price was up. There has been a notable increase in available inventory, specifically condo/townhome property types in Bear Trap.

As always, if we can help you with your real estate goals or needs, please reach out our Bear Trap Expert:

Gail Phelan (302) 233-4909

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Slower Start to 2025 for Sea Colony

March has arrived and after a winter with multiple snowstorms in a few short months, we are grateful for warmer, light-filled days ahead!

As the chart illustrates, Sea Colony had a slower start to the year for real estate activity. Through the first two months of 2025, properties took about a week longer to sell and new contracts were down 38% when compared to last year. Sales volume in dollars (based on list price) was down less, at 23% and the average sale price for properties settled in January and February was up 20% when compared to 2024.

As always, if we can help you with your real estate goals or needs, please reach out to our Sea Colony Experts:

Gail Phelan               Chris Housman
(302) 233-4909          (302) 853-0192

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Bethany-Fenwick Slower Start to 2025

March has arrived and after a winter with multiple snowstorms in a few short months, we are grateful for warmer, light-filled days ahead!

As the chart illustrates, the Bethany-Fenwick area had a slower start to the year for real estate. Through the first two months of 2025, properties took about 10 days longer to sell and new contracts were down 23% when compared to last year. The most significant reduction in sales was for condo/townhome properties under $500K, which were down 86% (1 vs.7). Therefore, sales volume in dollars, based on list price, declined by a much smaller margin (2%) and the average sale price for properties settled in January and February was up 67% when compared to 2024.

As always, if we can help you with your real estate…

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Sussex County Property Tax Estimation Calculator

Following the state-wide reassessment and letters that homeowners have received from Sussex County and Tyler Technologies in recent months, Sussex County has released a tool to estimate your property taxes in 2025, based upon the assessment value that you received.  The Sussex County Property Tax Calculator can be found on their website:     https://sussexcountyde.gov/property-tax-calculator

You will be required to input the school district.  For homes in Bethany Beach, Fenwick Island and the surrounding areas where we conduct business, the school district is Indian River.

Please note, this is a preliminary estimate only. It does not account for any tax assistance programs you may be receiving (full time residents that are retirees, for…

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Bayside Remains in Seller’s Market

As we head into what is typically an active selling season , this is a time we like to calculate absorption rates to determine whether we are trending in the direction of a buyer’s or seller’s market. We compare the pace of sales over the previous 12 months to determine how many Months’ Supply of Inventory is for sale. Generally, a balanced market would have between 6 to 7 months of inventory. At this time, Bayside has 4 months of inventory and we remain in a Seller’s Market.

Even with a serious winter storm that left us under snow for many weeks, we experienced good buyer activity at the beach during the first month of the year. In January, 5 properties went under contract in Bayside. This compares to 4 sales in January of 2024 and 6 in 2023. We…

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Bear Trap Dunes Remains in Seller’s Market

As we head into what is typically an active selling season, this is a time we like to calculate absorption rates to determine whether we are trending in the direction of a buyer’s or seller’s market. We compare the pace of sales over the previous 12 months to determine how many Months’ Supply of Inventory is for sale. Generally, a balanced market would have between 6 to 7 months of inventory. While we are trending towards a Buyer’s Market, at this time, Bear Trap Dunes has 4 months of inventory and it remains a Seller’s Market.

Even with a serious winter storm that left us under snow for many weeks, we experienced good activity during the first month of the year. In January, 6 properties went under contract in Bear Trap. This compares to 4 sales in…

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Ocean View Remains in Seller’s Market

As we head into what is typically an active selling season, this is a time we like to calculate absorption rates to determine whether we are trending in the direction of a buyer’s or seller’s market. We compare the pace of sales over the previous 12 months to determine how many Months’ Supply of Inventory is for sale. Generally, a balanced market would have between 6 to 7 months of inventory. While we are trending towards a Buyer’s Market, at this time, Ocean View has 4 months of inventory and it remains a Seller’s Market.

Even with a serious winter storm that left us under snow for many weeks, we experienced good activity during the first month of the year. In January, 25 properties went under contract in Ocean View. This compares to 27 sales in…

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Sea Colony Remains in Seller’s Market

As we head into what is typically an active selling season for beach property, this is a time we like to calculate absorption rates to determine whether we are trending in the direction of a buyer’s or seller’s market. We compare the pace of sales over the previous 12 months to determine how many Months’ Supply of Inventory is for sale. Generally, a balanced market would have between 6 to 7 months of inventory. At this time, both Sea Colony East and West have 2 months or less of inventory and we remain in a Seller’s Market.

Even with a serious winter storm that left us under snow for many weeks, we experienced good buyer activity at the beach during the first month of the year. In January, 5 properties went under contract in Sea Colony. This…

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