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Found 31 entries about Bethany Beach Real Estate Blog.

For the last few months, we have shared with you that the beach real estate market has been slowing, but as the graph illustrates, both single family homes and condo/townhome properties in the Bethany-Fenwick area continued to appreciate in value during 2022.

If you are considering a purchase or sale, we welcome a conversation to strategize about how to ensure the very best results in this shifting market!  

During this time of Thanksgiving, we are grateful for your continued confidence in our group. We all wish you and your loved ones a healthy and joyful holiday!

 

*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

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We all hear economic and financial data from multiple sources. At the end of the day, we feel it is important to share both the sales data in the chart provided and also some perspective on what we are experiencing first-hand.

As we reflect on the last 6 months or so, we started to notice a difference in the temperature of the market in the March/April timeframe. None-the-less, through a rising interest rate environment and uncertainty in the financial markets, we continued to see, and we are still seeing many properties sell very quickly. Seven of the last 10 properties that went under contract in Bethany Beach did so in under 2 weeks. These properties ranged in price from $350K to $3.6 million.

Given the state of the economy, we continue to be

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Warm sunny days, cool nights and light traffic make this our favorite time of the year at the beach and we hope that you are enjoying this season!  


We have been communicating for the last few months that the beach real estate market has slowed when compared to recent years and this trend continued through August. As the chart illustrates, sales in Sea Colony East are down 17% to-date while the continuation of extremely limited inventory has kept the median sales price up a significant 35%.

On a personal note, September is always a special month for me as it marks 33 years since starting a career in real estate at the beach. I feel extremely fortunate to have earned the trust of so many of you over the years and together with Christi, Gail,

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Warm sunny days, cool nights and light traffic make this our favorite time of the year at the beach and we hope that you are enjoying this season! 

We have been communicating for the last few months that the beach real estate market has slowed when compared to recent years and this trend continued through August. As the chart illustrates, sales in Sea Colony West are down 36% to-date while the continuation of limited inventory has kept the median sales price up 18%. Properties are still selling quickly, with 7 days being the median amount of time to go under contract.

On a personal note, September is always a special month for me as it marks 33 years since starting a career in real estate at the beach. I feel extremely fortunate to have earned

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Warm sunny days, cool nights and light traffic make this our favorite time of the year at the beach and we hope that you are enjoying this season! 

We have been communicating for the last few months that the beach real estate market has slowed when compared to recent years and this trend continued through August. As the chart illustrates, sales in Bethany Beach are down 29% to-date while the continuation of limited inventory has kept the median sales price up 10%. Properties are still selling quickly, with 6 days being the median amount of time to go under contract.      

 

 

 

 

 

 

 

 

 

 

 

On a personal note, September is always a special month for me as it marks 33 years since starting a career in real

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We hope you are having a wonderful summer!  Its is hard to believe we are well into August already!

While total sales are down year-to-date in Sea Colony, the real estate market remains firm. In fact, the median price on the East is up 24% and up 18% on the West when compared to the first 7 months of last year. The median days to contract is still under one week and while there has been a slight rise in inventory, it is still at record lows.

As always, if we can offer you any real estate guidance, please call our Sea Colony Experts:Gail Phelan: 302-233-4909 and Chris Housman: 302-853-0192.

 

*Data was derived from the Sussex County MLS. Includes properties in Sea Colony. May not reflect all activity in the marketplace.

 

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We hope you are having a wonderful summer! It is hard to believe we are already nearing the end of August!

While total sales are down year-to-date in the Bethany-Fenwick area, the real estate market remains firm. In fact, the median price of single family homes is up 10% and 17% for condo/townhomes when compared to sales in the first 7 months of last year. The median days to contract is just 7 days and while there has been a slight rise in inventory, it is still at record lows.

As always, if we can offer you any real estate guidance, please give us a call.

 

 *Data was derived from the Sussex County MLS. Includes Single Family and Condo/Townhome properties in zip codes 19930 and 19944. May not reflect all market activity .

 

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The kick-off to summer has arrived and we have enjoyed seeing so many visitors over the last few weeks! The month of May was slow for real estate as just 21 properties went under contract in the Bethany-Fenwick area, compared to 41 at the same time last year.

While we are certainly experiencing a slow down in market activity, real estate remains a strong investment with appreciation over time. If you have any questions related to real estate, we are here for you. Please give us a call, (302) 541-5207.

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Happy Spring!  As we look back on the first 4 months of the year, there was some slowdown in total sales, but the beach real estate market remains firm as we continue to experience very limited inventory amidst rising interest rates.      


A positive piece of news for real estate that we are watching closely is the Delaware legislation recently introduced that would reduce the transfer tax by 1%, effective for transactions recorded after July 1, 2022.  This would bring the total tax back to 3% vs. 4%.  Typically, this expense is split between the buyer and seller at closing.  While not yet in effect, we are encouraged that this bill will be passed and we will keep you informed.      

If you would like to discuss the market in more detail, please

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During the first quarter of the year, we continued to experience a strong market for sellers. As the chart illustrates, the number of properties sold in Sea Colony was down 50% when compared to the first quarter of last year while sales volume was down just 11%. Properties continued to go under contract very quickly as inventory was down 71% year-over-year and 89% compared to 2020!

 


As always, if we can offer you any real estate guidance during this time, we are here to help! Please call  Sea Colony Expert, Gail Phelan: 302-233-4909.

 

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