Delaware Beach Real Estate Blog - Leslie Kopp

Strong Start to 2024 for Sea Colony

March has arrived and we are looking forward to longer light filled days ahead! Sea Colony has had a good start to the year for real estate activity. While it is not the frenzy that we experienced in 2021 and 2022, to-date, sales are up considerably when compared to last year.

As the chart illustrates, through the first two months, new contracts doubled when compared to the same time last year. Inventory is slowly rising, but remains at historical lows. Sales volume in dollars (based on list price) was up 117%.   Properties that are priced appropriately continue to sell very quickly and the median sale price of properties settled in January and February was up 4% when compared to the same months in 2023.

If you are considering buying or selling,…

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Slow Start Due to Deficient Inventory in Bear Trap Dunes

March has arrived and we are looking forward to longer light filled days ahead! Bear Trap has had a slow start to the year for real estate activity. While it is not the frenzy that we experienced in 2021 and 2022, to-date, sales are up considerably when compared to last year in other areas at the beach, but extremely low inventory has suppressed sales in your community.

As the chart illustrates, through the first two months, new contracts were down 33% compared to the same time last year. Properties that are priced appropriately continue to sell quickly and the median sale price of properties settled in January and February was up 26% when compared to the same months in 2023.

If you are considering buying or selling, please give our Bear Trap…

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Bethany-Fenwick Strong Start to 2024

March has arrived and we are looking forward to longer light filled days ahead! The Bethany-Fenwick area had a good start to the year for real estate activity. While it is not the frenzy that we experienced in 2021 and 2022, to-date, sales are up considerably when compared to last year.

As the chart illustrates, through the first two months, new contracts were up 34% when compared to the same time last year. Inventory is slowly rising, but remains at historical lows. Sales volume in dollars (based on list price) was up 30%.   Properties that are priced appropriately continue to sell very quickly and the average sale price for properties settled in January and February was down 5% when compared to the same months in 2023. This is due to the fact…

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North Bethany Bicycle and Pedestrian Corridor Study

Provided by Delaware Department of Transportation

The purpose of the North Bethany Bicycle and Pedestrian Corridor Study is to evaluate alternatives to provide low-stress bicycle and pedestrian facilities along SR 1 between Bethany Beach and the Indian River Inlet Bridge, and to develop a conceptual design and cost estimate for a recommended alternative. These concepts will be developed based on the public feedback received to date and the results of the existing conditions assessment. The potential alternatives may include recommendations for traffic calming, median crossover closures/consolidations, shared use path(s), protected bike lanes, dedicated right-turn lanes, sidewalks, and crossing improvements.

Public Process

Concepts…

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First Freeman Arts Pavilion Concert Scheduled

The Freeman Arts Pavilion (formerly known as The Freeman Stage) has announced its' first summer concert scheduled for June 26th!  Globally recognized musician Michael Franti & Spearhead with special guests Trevor Hall & Bombargo will be the first musical performance to kick off a wonderful summer of concerts located in the community of Bayside Resort.  With their 2022 performance being such a hit amongst concert-goers, Franti & Spearhead's Togetherness Tour of 2024 will stop in West Fenwick once again to bring sunshine to the stage.

For all upcoming events and performances at The Freeman Arts Pavilion, click here!

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Bayside Real Estate: Buyer's or Seller's Market

We are just one month into the year and so far, we are experiencing some slowing of buyer activity in Bayside. In January, 4 properties went under contract in your community compared to 6 sales during the same month last year.

During this time of the year, 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 calculate how many Months Supply of Inventory is for sale. Generally, a balanced market would have between 6 to 7 months of inventory.  

We remain in a Seller’s Market in Bayside.   If you are looking for a Bayside single family, townhome or condo to call your own intime for the upcoming season, or if you have…

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Bear Trap Real Estate: Buyer's or Seller's Market

We are just one month into the year and so far, we are experiencing good buyer activity in Ocean View and Bear Trap Dunes! In January, 27 properties went under contract in Ocean View, up from 24 sales during the same month last year. In your community of Bear Trap, there were 4 sales, up from 3 last year.      

During this time of the year, 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 calculate how many Months Supply of Inventory is for sale. Generally, a balanced market would have between 6 to 7 months of inventory.  

We remain in a Seller’s Market for Bear Trap Dunes and Ocean View Real Estate. If you are…

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Ocean View Real Estate: Buyer's or Seller's Market

We are just one month into the year and so far, we are experiencing good buyer activity in Ocean View! In January, 27 properties went under contract in Ocean View. This is up compared to 24 sales during the same month last year, even though there is 15% less inventory available.    

During this time of the year, 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 calculate how many Months Supply of Inventory is for sale. Generally, a balanced market would have between 6 to 7 months of inventory.  

We remain in a Seller’s Market for Ocean View and Bethany Beach real estate. If you are looking for Ocean View DE homes…

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Sea Colony Real Estate: Buyer's or Seller's Market

We are just one month into the year and so far, we are experiencing good buyer activity at the beach! In January, 6 properties went under contract in Sea Colony. This is up 100%, compared to 3 properties under contract during the same month last year, even as we continue to have very little inventory.  

During this time of the year, 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 calculate how many Months Supply of Inventory is for sale. Generally, a balanced market would have between 6 to 7 months of inventory.  

While there has been some growth in inventory on the East, we remain in a Seller’s Market at Sea…

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Beach Real Estate: Buyer's or Seller's Market

We are just one month into the year and so far, we are experiencing good buyer activity at the beach! In January, 19 properties went under contract in the Bethany-Fenwick area. This is up nearly 30%, compared to 15 properties under contract during the same month last year, even as we continue to have deficient inventory in most areas.  

During this time of the year, 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 calculate how many months supply of inventory is for sale. Generally, a balanced market would have between 6 to 7 months of inventory.  

As the chart illustrates, we remain in a Seller’s Market for…

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