Delaware Beach Real Estate Blog - Leslie Kopp

Slowing Appreciation of Beach Property Values in Bethany-Fenwick Area

For the last few months, we have shared with you that the beach real estate market has been slowing, but as the graph illustrates, both single family homes and condo/townhome properties in the Bethany-Fenwick area continued to appreciate in value during 2022.

If you are considering a purchase or sale, we welcome a conversation to strategize about how to ensure the very best results in this shifting market!  

During this time of Thanksgiving, we are grateful for your continued confidence in our group. We all wish you and your loved ones a healthy and joyful holiday!

*Data was derived from the Sussex County MLS. Includes properties sold in Fenwick Island, South Bethany, Bethany Beach & North Bethany. May not reflect all activity in the…

892 Views, 0 Comments

Ocean View Properties Continue to Sell Quickly, Inventory on the Rise

We all hear economic and financial data from multiple sources. At the end of the day, we feel it is important to share both the sales data in the chart provided and also some perspective on what we are experiencing first-hand.

As we reflect on the last 6 months or so, we started to notice a difference in the temperature of the market in the March/April timeframe. None-the-less, through a rising interest rate environment and uncertainty in the financial markets, we continued to see, and we are still seeing properties sell very quickly. Seven of the last 10 properties that went under contract in Ocean View did so in under 2 weeks. These properties ranged in price from $245K to just under $1 million.

Given the state of the economy, we continue to…

1000 Views, 0 Comments

Bear Trap Dunes Sales Volume Up thru 3rd Quarter

We all hear economic and financial data from multiple sources. At the end of the day, we feel it is important to share both the sales data in the chart provided and also some perspective on what we are experiencing first-hand.

As we reflect on the last 6 months or so, we started to notice a difference in the temperature of the market in the March/April timeframe. None-the-less, through a rising interest rate environment and uncertainty in the financial markets, we continued to see, and we are still seeing properties sell very quickly. Seven of the last 10 properties that went under contract in Bear Trap did so in under 3 weeks.  

Given the state of the economy, we continue to be surprised that more people are not reaching out for valuations of…

962 Views, 0 Comments

Sea Colony Properties Continue to Sell Quickly, Inventory on the Rise

We all hear economic and financial data from multiple sources. At the end of the day, we feel it is important to share both the sales data in the chart provided and also some perspective on what we are experiencing first-hand.

 As we reflect on the last 6 months or so, we started to notice a difference in the temperature of the market in the March/April timeframe. None-the-less, through a rising interest rate environment and uncertainty in the financial markets, we continued to see, and we are still seeing properties sell very quickly. Three of the last 5 listings of ours that went under contract in Sea Colony did so in under 2 weeks. These properties ranged in price from $6350K to just under $1 million.

Given the state of the economy, we…

819 Views, 0 Comments

South Bethany Sales Volume Up Year-to-Date Amidst Slower Sales

We all hear economic and financial data from multiple sources. At the end of the day, we feel it is important to share both the sales data in the chart provided and also some perspective on what we are experiencing first-hand.

As we reflect on the last 6 months or so, we started to notice a difference in the temperature of the market in the March/April timeframe. None-the-less, through a rising interest rate environment and uncertainty in the financial markets, we continued to see, and we are still seeing properties sell, just not at the frenzied pace we experienced early in the year. Three of the last five properties that went under contract in South Bethany did so in under 2 weeks and they all did so within a month.

Given the state of the…

916 Views, 0 Comments

Fenwick Properties Continue to Sell Quickly, Inventory Remains Low

We all hear economic and financial data from multiple sources. At the end of the day, we feel it is important to share both the sales data in the chart provided and also some perspective on what we are experiencing first-hand.

As we reflect on the last 6 months or so, we started to notice a difference in the temperature of the market in the March/April timeframe. None-the-less, through a rising interest rate environment and uncertainty in the financial markets, we continued to see, and we are still seeing many properties sell very quickly. In September, 5 properties went under contract in Fenwick Island and 4 of the 5 went under contract in less than 1 week. These properties ranged in price from $370K to $3.6 million.

Given the state of the…

953 Views, 0 Comments

Bethany Properties Continue to Sell Quickly, Inventory Starting to Rise

We all hear economic and financial data from multiple sources. At the end of the day, we feel it is important to share both the sales data in the chart provided and also some perspective on what we are experiencing first-hand.

As we reflect on the last 6 months or so, we started to notice a difference in the temperature of the market in the March/April timeframe. None-the-less, through a rising interest rate environment and uncertainty in the financial markets, we continued to see, and we are still seeing many properties sell very quickly. Seven of the last 10 properties that went under contract in Bethany Beach did so in under 2 weeks. These properties ranged in price from $350K to $3.6 million.

Given the state of the economy, we continue to be…

936 Views, 0 Comments

North Bethany Sales Volume Up Year-to-Date Amidst Slower Sales

We all hear economic and financial data from multiple sources. At the end of the day, we feel it is important to share both the sales data in the chart provided and also some perspective on what we are experiencing first-hand.

As we reflect on the last 6 months or so, we started to notice a difference in the temperature of the market in the March/April timeframe. None-the-less, through a rising interest rate environment and uncertainty in the financial markets, we continued to see, and we are still seeing many properties sell quickly. Three of the last five properties that went under contract in North Bethany did so in under 2 weeks. These properties ranged in price from $1 MIL to $3.5million.

Given the state of the economy, we continue to be…

896 Views, 0 Comments

North Bethany Pedestrian & Bicyclist Safety - DelDot Public Workshop on October 26th

The Delaware Department of Transportation (DelDOT) will hold a public workshop on Wednesday, October 26, 2022 at 5:00 pm to discuss the North Bethany Pedestrian & Bicyclist Study and the options for changes on Route One in North Bethany to improve pedestrian and bicyclist safety. Information will be presented beginning at 5:00 pm, followed by a question and answer period.

The workshop will be held in person at the Indian River Marina Conference Room and virtually via Zoom.  Meeting information is below:

In Person Meeting Location:
Indian River Marina Conference Room
39415 Inlet Rd
Rehoboth Beach, DE 19971

Virtual Meeting Information:
https://publicmeetings.delaware.gov/#/meeting/73047

1253 Views, 0 Comments

Sales Slow in Sea Colony East, Median Price Continues to Rise

Warm sunny days, cool nights and light traffic make this our favorite time of the year at the beach and we hope that you are enjoying this season!  

We have been communicating for the last few months that the beach real estate market has slowed when compared to recent years and this trend continued through August. As the chart illustrates, sales in Sea Colony East are down 17% to-date while the continuation of extremely limited inventory has kept the median sales price up a significant 35%.

On a personal note, September is always a special month for me as it marks 33 years since starting a career in real estate at the beach. I feel extremely fortunate to have earned the trust of so many of you over the years and together with Christi, Gail,…

1200 Views, 0 Comments