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Beach Market Strong, Sales Slow in Fenwick

Posted by Leslie Kopp on Thu, November 15th, 2018 at 3:13 am.

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

* 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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