Beach Real Estate: Buyer's or Seller's Market

Posted by Leslie Kopp & Christi Arndt on Monday, February 5th, 2024 at 12:11pm

We are just one month into the year and so far, we are experiencing good buyer activity at the beach! In January, 19 properties went under contract in the Bethany-Fenwick area. This is up nearly 30%, compared to 15 properties under contract during the same month last year, even as we continue to have deficient inventory in most areas.  

During this time of the year, we like to calculate absorption rates to determine whether we are trending in the direction of a buyer’s or seller’s market. We compare the pace of sales over the previous 12 months to calculate how many months supply of inventory is for sale. Generally, a balanced market would have between 6 to 7 months of inventory.  

As the chart illustrates, we remain in a Seller’s Market for Bethany Beach, North Bethany and South Bethany real estate. Meanwhile, Fenwick Island real estate has shifted into a more balanced market. If you are looking for a beach home to call your own or have been contemplating a real estate sale, we are here to help.

Please give us a call:(302) 541-5207              

*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 marketplace.

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