Beach Market Strong, South Bethany Sales Slower

Posted by Leslie Kopp on Thursday, August 9th, 2018 at 10:09am.

South Bethany 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, South Bethany has experienced some slowing in total sales.

As the chart indicates, through July, the number of properties put under contract is down 14% when compared to the first 7 months of last year. Meanwhile, the pace of sales has improved and $1million+ transactions are up considerably, leading to an increase in total sales volume to-date. Inventory is down across most areas of South Bethany which is certainly a factor. This time last year, there were 25 properties for sale versus 18 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 South Bethany.
It may not reflect all activity in the marketplace.

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