Beach Market Strong, South Bethany Sales Slower
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.
* 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.