Delaware Beach Real Estate Blog - Fenwick Island Real Estate Blog

Fenwick Island considers rental tax adjustment amid Statewide changes

Credit to: Coast TV, Kevin Zipay

Taxes fluctuate almost every year, and Delaware is no exception. This year, the state has implemented a 4.5 percent tax on all short-term rentals. In response, the Fenwick Island Budget and Finance Committee is evaluating potential changes to its own rental tax policies. Currently, short-term rental properties in Fenwick Island are taxed at a higher rate than hotels. When combined with the new state tax, short-term rentals are now subject to a total tax rate of 12.5 percent, while hotels pay only 11.5 percent.

With summer approaching, vacationers will soon flock to Fenwick Island, filling hotels and rental properties along the coast. Among them will be Bruce Bogdanski, who plans to book a hotel for his fishing…

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Bethany-Fenwick Slower Start to 2025

March has arrived and after a winter with multiple snowstorms in a few short months, we are grateful for warmer, light-filled days ahead!

As the chart illustrates, the Bethany-Fenwick area had a slower start to the year for real estate. Through the first two months of 2025, properties took about 10 days longer to sell and new contracts were down 23% when compared to last year. The most significant reduction in sales was for condo/townhome properties under $500K, which were down 86% (1 vs.7). Therefore, sales volume in dollars, based on list price, declined by a much smaller margin (2%) and the average sale price for properties settled in January and February was up 67% when compared to 2024.

As always, if we can help you with your real estate…

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Bayside Remains in Seller’s Market

As we head into what is typically an active selling season , this is a time 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 determine how many Months’ Supply of Inventory is for sale. Generally, a balanced market would have between 6 to 7 months of inventory. At this time, Bayside has 4 months of inventory and we remain in a Seller’s Market.

Even with a serious winter storm that left us under snow for many weeks, we experienced good buyer activity at the beach during the first month of the year. In January, 5 properties went under contract in Bayside. This compares to 4 sales in January of 2024 and 6 in 2023. We…

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Bethany-Fenwick Remains in Seller’s Market

As we head into what is typically an active selling season for beach property, this is a time 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 determine how many Months’ Supply of Inventory is for sale. Generally, a balanced market would have between 6 to 7 months of inventory. At this time, all areas have 4 months of inventory or less and we remain in a Seller’s Market in the Bethany-Fenwick area.

Even with a serious winter storm that left us under snow for many weeks, we experienced good buyer activity at the beach during the first month of the year. In January, 17 properties went under contract in the…

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2024 Bayside Real Estate Market Recap

*Data was derived from the Sussex County MLS. Includes resale properties sold in Bayside. May not reflect all activity in the marketplace.

Happy New Year!  As we reflect on 2024, you might recall that throughout most of the year, real estate sales in Bayside were comparable to 2023. Inventory shortages kept values high, even as interest rates increased heading into the Summer season, and sales remained steady from January through September. Buyer activity slowed considerably in the Fall, as anticipated, with the election and Holiday Season. 

We are optimistic and enthusiastic about the market in the year ahead!  If you are considering a purchase or sale of Bayside real estate, it is never too early to have a conversation or to begin preparations.

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2024 Fenwick Island Real Estate Market Recap

*Data was derived from the Sussex County MLS. Includes properties sold in Fenwick Island. May not reflect all activity in the marketplace.

Happy New Year!  As we reflect on 2024, you might recall that throughout most of the year, real estate sales in Fenwick Island were much stronger when compared to 2023. Even as interest rates increased heading into the Summer season, inventory shortages kept values appreciating and sales remained high from January through October. Buyer activity slowed in November and December, as anticipated, with the election and Holiday Season.  

 We are optimistic and enthusiastic about the Delaware beach markets in the year ahead!  If you are considering a purchase or sale of Fenwick Island real estate, it is never too early…

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Fenwick Island Bridge Replacement Project Delayed

Credit to: WBOC, Sean Curtis, AECOM

The Delaware Department of Transportation (DelDOT) has announced the delay of a bridge replacement on Route 54 (Lighthouse Road) in Fenwick Island.

According to DelDOT, a delay with the National Environmental Policy Act process due to tidal and navigation issues caused the project’s expected completion date to be pushed back. The bridge’s replacement was initially planned for Spring 2025, but is now expected to commence in early 2026.

DelDOT says the replacement will occur in two phases, the first commencing in October 2026 and lasting through May 2027. The second phase is slated for October 2027 through May 2028.

The replacement project was initiated due to the bridge’s poor condition,…

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Bayside Market Update 11/4

Last month, we shared with you that real estate sales had been firm through the first 3 quarters of the year for Bayside. This trend continued in October as 2 properties in Bayside went under contract last month. This is consistent with 2 sales in October of 2023.  As the graph illustrates, the median sale price for both single family homes and condo/townhome properties in Bayside have dropped slightly in 2024. During this time of Thanksgiving, we are grateful that so many of you look to our group for guidance and expertise in real estate. We wish you a healthy and joyful holiday!

If you are considering a purchase or a sale, it is never too early to have a conversation. Please reach out to our Bayside experts:

Wayne Lyons                    Kiki…

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Bethany-Fenwick Market Update 11/4

Last month, we shared with you that real estate sales had picked up in September. This carried into October as 34 properties in the Bethany-Fenwick area went under contract last month. This is up 55% compared to 22 sales in October of 2023. As the graph illustrates, the median sale price for both single family homes and condo/townhome properties have risen in 2024.   If you are considering a purchase or a sale, it is never too early to have a conversation. Please give us a call. During this time of Thanksgiving, we are grateful that so many of you look to our group for real estate guidance and expertise.   We wish you all a healthy and very joyful holiday!

Leslie Kopp                          Christi Arndt
(302) 542-3917                     (302)…

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Bayside Market Remains Firm for Sellers

Last month, we reported that the Bayside real estate market had picked up some in August. Unfortunately, that momentum was not as strong in September. During the month, 8 properties went under contract. This compares to 9 sales during the same month last year. 

Through the first 3 quarters of the year, the market has been firm for sellers of all property types and locations in Bayside. While it is a few days longer for properties to sell, total sales are up for all property types. If you are exploring your options, we always welcome a conversation.

Please call our Bayside Experts, Wayne Lyons (302) 858-7347 or Kiki Hargrove (302) 569-2959

This month, we will be hosting the Wags, Witches and Warlocks Halloween parade in downtown Bethany Beach.…

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