Beach Market Strong, Sales Slow in Fenwick

Posted by Leslie Kopp on Thursday, August 9th, 2018 at 10:16am.

Fenwick Island August 1, 2018 Market Update

It is hard to believe that we are more than half of the way through the year and while the beach real estate market as a whole is trending in a positive direction, Fenwick Island has experienced some slowing when compared to 2017.

As the chart indicates, through July, the total number of both single family homes and condo/townhomes sold are down. Meanwhile, the pace of sales has improved some and $1million+ sales have held firm. Inventory is down across all property types in Fenwick which is certainly a factor. This time last year, there were 44 properties for sale versus 30 on the market today.    

It’s never too early to begin strategizing. If you are considering a future purchase or sale, please give us a call to discuss your goals: (302) 541-5207.

Leslie Kopp

 

* Data was derived from the Sussex County MLS.  Includes new contracts on properties in Fenwick Island
It may not reflect all activity in the marketplace.

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