Delaware Beach Real Estate Blog - Ocean View & Bear Trap Dunes Real Estate Blog

Ocean View Values Continue to Rise in 2022

The kick-off to summer has arrived and we have enjoyed summer-like temperatures and many bright sunny days over the last few weeks! The month of May was slow for real estate as just 16 properties went under contract in Ocean View, compared to 49 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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Some Slowing in Bear Trap through April

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

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 call our Bear Trap Expert, Gail…

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Ocean View Market Remains Strong through April

Happy Spring!  As we look back on the first 4 months of the year, the Ocean View real estate market has remained strong. 

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

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Market Conditions Remained Strong for Bear Trap Sellers in Q1

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 Bear Trap was down 45% when compared to the first quarter of last year while sales volume was down just 27%. Properties continued to sell very quickly with minimal competition as inventory was down 50% year-over-year and 95% compared to 2020!

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

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Market Conditions Remained Strong for Ocean View Sellers in Q1

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 Ocean View was down 14% when compared to the 1st quarter of last year while sales volume increased 5%. Properties continued to go under contract very quickly as inventory was down 12% year-over-year and 76% compared to 2020!

 As always, if we can offer you any real estate guidance during this time, we are here to help!  Please give us a call: 302-541-5207.

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High Demand, Deficient Inventory & Rise in Ocean View Values

We are now into the month of March and are looking forward to the longer, light filled days ahead! Looking back on the first two months of 2022, real estate activity was extremely competitive with the continuation of deficient inventory and we experienced multiple offers in many situations. Real estate values are still on the rise. We have said this many times before: it is hard to predict how long this environment will last!

As the chart illustrates, total sales in Ocean View were up 6% when compared to the same time last year as inventory remains at record lows. Meanwhile, sales volume in dollars (based on list price) was up even more at 23% ! Properties continued to sell very quickly. The average sales price for properties settled in January and…

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High Demand, Deficient Inventory & Rise in Bear Trap Values

We are now into the month of March and are looking forward to the longer, light filled days ahead! Looking back on the first two months of 2022, real estate activity was extremely competitive with the continuation of deficient inventory and we experienced multiple offers in many situations. Real estate values are still on the rise. We have said this many times before: it is hard to predict how long this
environment will last!

As the chart illustrates, total sales in Bear Trap were down 50% when compared to the same time last year as inventory remains at record lows. Meanwhile, sales volume in dollars (based on list price) was down much less, at 22%.   Properties continued to sell very quickly. In fact, all 7 properties that went under contract…

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Community Spotlight – Bay Forest

Located just a few miles west of Bethany Beach along Collins Creek in Ocean View, Delaware, the community of Bay Forest boasts a wide range of amenities featuring 2 club houses, a full-service fitness center, a yoga and aerobics studio, a multi-purpose recreation barn with indoor basketball and pickle ball courts and also houses large community gatherings.

Outdoor facilities include a large tennis pavilion with four lighted hard courts and multiple swimming pools featuring a lazy river, lap pools, a lounge pool and an outdoor lounge with an impressive bar and fire pit.  Additional outdoor amenities include volleyball, basketball, bocce and pickle ball courts, a putting green, as well as playgrounds and an additional fire pit for families to enjoy…

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Strongest Seller's Market on Record Continues

Typically, the month of January brings some slow down in real estate activity when compared with warmer months of the year, but we continue to be in a market like never before at the beach. Through multiple snow storms and blizzard conditions, 26 properties went under contract in the Bethany-Fenwick area in January.

We are often asked whether we are in a buyer’s market or a seller’s market. Based on our communications over the last 18 months, it should be no surprise that we are clearly in a seller’s market. However, to put this into perspective, we need to calculate Months of Inventory, also known as the Absorption Rate.  

The chart provided compares the supply of inventory at the beach on January 1 versus the same date in previous years. In…

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Bear Trap Values Surge in 2021, Inventory Shortages

Happy New Year, we hope you and your family had a safe and healthy holiday season!

As we look back on 2021, you might recall that we predicted another strong year following a record shattering 2020. This proved to be true! The continuation of shrinking inventory and strong demand created a competitive market for buyers like we have never experienced. These conditions sent real estate values surging in 2021 and it remains an incredible time to be a seller! In fact, buyer demand remains high and there are currently no properties for sale in Bear Trap versus 2 at this time last year and 19 at the close of 2019!

Properties listed with our group in the Ocean View-Bethany area in 2021 sold faster and our sellers realized a higher sale-to-list price…

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