Delaware Beach Real Estate Blog - Fenwick Island Real Estate Blog

Bethany-Fenwick Market Remains Firm for Sellers

Last month, we reported that the beach real estate market slowed some in August. We are pleased to share that buyer activity picked up nicely in September ! During the month, 30 properties in the Bethany-Fenwick area went under contract. This is up 43% when compared to 21 sales during the same month last year.

A nice rise in newly available inventory, specifically for single family homes, was a leading factor that contributed to this flurry of activity. As the chart illustrates, through the first 3 quarters of the year, the market has remained firm for all property types at the beach. If you are exploring your options as a buyer or seller, we always welcome a conversation.

Leslie Kopp                          Christi Arndt                …

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Celebrating 35 Years in Real Estate, August Sales Stronger in Bayside

Light traffic, cooler temperatures, and warm ocean breezes make September our favorite time of the year to live at the beach. This is also a special month for me personally as it marks 35 years since starting a career in real estate at the beach. I am extremely grateful to have earned the trust of so many of you over the years and together with Christi Arndt, Wayne Lyons, Kiki Hargrove, and the group, we will continue to offer you the highest level of guidance and expertise in real estate well into the future!

The real estate market for Bayside has remained firm when compared to last year. During the month of August, 5 properties went under contract in your community. This compares to 3 during the same month last year. As the chart illustrates,…

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Celebrating 35 Years in Real Estate, August Sales Slower in Fenwick Island

Light traffic, cooler temperatures, and warm ocean breezes make September our favorite time of the year to live at the beach. This is also a special month for me, personally, as it marks 35 years since starting my career in real estate at the beach. I am extremely grateful to have earned the trust of so many of you over the years and together with Christi Arndt and the group, we will continue to offer the highest level of guidance and expertise in real estate well into the future!

After a flurry of activity in July, the beach real estate market slowed some in August when compared to the last year. During the month, 22 properties went under contract in the Bethany-Fenwick area. This compares to 28 during the same month last year. As the chart…

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Deed Fraud reported in Fenwick Island

Credit to: Coastal Point, Kerin Magil

Fenwick Island police are calling attention to a recent attempt to fraudulently sell property in the town.

According to a press release from Police Chief Michael Morrissey, the department received a complaint on Friday, Aug. 16, alleging identify theft and fraud regarding the attempted sale of an empty lot on West Maryland Avenue near the southern end of Fenwick Island.

According to the report, an unidentified subject contacted a local real estate agent and identified himself as the owner of the property, listed as 12 West Maryland Avenue.

“He signed a sales agreement in the name of the real owner and obtained a fake identity card in the owner’s name. The real estate agent received an offer on the…

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Summer Buyer Activity Slower in Bayside

After a strong Spring market in Bayside that was fueled by increased inventory and more buying options, we experienced some slowing in June and July. During those 2 months, 10 properties went under contract in your community (versus 14 during the same time last year).

As the chart illustrates, both the number of sales and sales volume in dollars are up year-to-date. Inventory has increased 90% when compared to the same time last year, creating more competition for sellers. Meanwhile, most properties are taking about a month to go under contract.

If we can offer you any real estate guidance, please call our Bayside Experts.

Wayne Lyons                      Kiki Hargrove
(302) 858-7347              (302) 569-2959

Data was derived from the…

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Summer Buyer Activity Stronger in Fenwick Island

While real estate activity in Fenwick Island was relatively flat this Spring when compared to last year, we experienced a nice flurry of activity in June and July. During those 2 months, 10 properties went under contract in Fenwick Island (versus 4 during the same time last year).

As the chart illustrates, both the number of sales and sales volume in dollars are up year-to-date. Inventory has increased 300% when compared to the same time last year, creating more competition for sellers. Meanwhile, properties are taking a little more time to go under contract.

So far this year, our group has participated in more than 30% of property sales in the Bethany-Fenwick area. If we can offer you any real estate guidance, please give us a call.

Leslie…

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Fenwick residents talk environmental impact

Credit to: Coastal Point • Kerin Magill

Report after report cite the inevitability of climate change impacts to the coastal area, but in Fenwick Island last week, residents gathered with experts to hear that they can, in fact, make a difference.

Representatives of local environmental groups, state agencies and other organizations gathered at Fenwick Island Town Hall on Thursday, July 25, for “Fenwick Nurtures Nature: Dark Sky & Green Infrastructure Education Symposium.”

Organized by Fenwick Island’s Residential Concerns Committee, the event featured informational displays and discussions with representatives of groups including the Delaware Center for the Inland Bays, the Delaware Urban & Community Forestry Program, Delaware Botanic Gardens,…

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Continuation of a Seller’s Market in Bayside

During this time of the year, we like to calculate absorption rates in order to understand 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 7 months of inventory while more would be a buyer’s market and less a seller’s market. At this time, both single family and condo/townhome property types in Bayside continues to be well under a balanced market, staying in a seller’s market due to good buyer activity.   While condo/townhome inventory is growing, it remains a seller’s market for all property types in Bayside!

If you would like to discuss the market in more detail…

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Shifting Market at the Beach

This is the time of year when we calculate absorption rates in order to understand whether we are trending in the direction of a buyer’s or seller’s market at the beach. 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 7 months of inventory while more would be a buyer’s market and less a seller’s market. The market is clearly shifting as all areas moved in a favorable direction for buyers. We continue to stay in a seller’s market from North Bethany to South Bethany, but growing inventory in Fenwick Island has shifted that area into a buyer’s market.        

If you would like to discuss the market in more detail as a buyer or a seller,…

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Bayside Property Value Update

The summer season is upon us, and we have enjoyed seeing so many of you enjoying the area over the last few weeks! During the month of May, 3 properties went under contract in the community of Bayside.   This compares to 4 properties at the same time last year, and 4 in May of 2022. There is some softening of values, particularly for single family homes where we have seen a notable rise in inventory (13 properties for sale vs. 6 at this time in 2023). However, there is still a plethora of buyers waiting for specific properties to be listed for sale, especially condos/townhomes where there are now 2 properties for sale, vs. 4 at this time last year.

If you have any questions about the market or any specific property, please call our Bayside…

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