So far in 2021, the market has proven to be extremely competitive for Buyers as inventory remains deficient and demand is extremely high.  Prices are rising sharply and multiple offers are the norm.

In recent months, sale prices have reached levels that match and in some cases exceed values of comparable sales during the 2005/2006 boom. The median sale price of condo/townhome properties sold to-date in 2021 is up 26% over 2019.  Prices of single family home properties are up 55% compared to 2019.  This is inflated due to a few high dollar sales early in the year, but the trend is none-the-less very impressive.  It is hard to predict how long this market will last… what we know for certain is that Spring is upon us and NOW is an opportune time!  If

Happy New Year!  We hope you and your family had a safe and healthy holiday season. As we look back on an incredible year for beach real estate, you might recall that 2020 started strong in early months and slowed with the onset of COVID-19 in March and April.  The market came back in May and the positive momentum carried through the year.

Importantly, there has been a sharp decline in available inventory which is down a significant 73%, year-over-year! There are currently 23 properties for sale in Bethany Beach versus 85 at this time last year.

We feel very fortunate to have participated in 30% of sales in the Bethany-Fenwick market during 2020, representing the buyer, seller or both parties. We are extremely grateful for your continued loyalty

Last month, we shared that we were in a strong seller’s market at the beach with increasing real estate sales and declining inventory. This trend continued in July as 47 properties went under contract in Bethany Beach versus 29 during the same month last year. Inventory continues to fall as there were just 28 new listings added in July.

Year-to-date, sales are up 26% in Bethany Beach. There is no question that this increase would be much higher if there were more properties available for sale. As the chart illustrates, there is about one third of the inventory available when compared to last year (43 properties versus 131).

So far this year, our group has had the fortunate opportunity to participate in 35% of homes sold in the Bethany-Fenwick

While the stock market has shown volatility in recent weeks, the beach real estate market has remained very firm.  Mild winter weather and exceptional interest rates have contributed to strong buyer activity early in the year.

As the chart illustrates, total sales are up 6% to-date when compared to the same time last year and sales volume in dollars (based on list price) is up 18%.   Properties are selling almost a month faster, on average, when compared to 2019.  So far this year, 14 properties listed for $1million+ have gone under contract in the Bethany-Fenwick area.  This is up 43% over the same time last year as demand for homes East of Rt 1 has been notably high.

With the Spring season just around the corner, now is an opportune time to