Delaware Beach Real Estate Blog - South Bethany Real Estate Blog

South Bethany Sales Volume Up Year-to-Date Amidst Slower Sales

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 properties sell, just not at the frenzied pace we experienced early in the year. Three of the last five properties that went under contract in South Bethany did so in under 2 weeks and they all did so within a month.

Given the state of the…

920 Views, 0 Comments

Summer Sales Slower in South Bethany, Inventory Begins to Rise

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. Sales year-to-date in South Bethany are down 16% to-date while the continuation of limited inventory has kept the average sales price is up 15%. Properties are still selling quickly, with 9 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 the…

1003 Views, 0 Comments

Low Inventory Keeps Beach Market Firm

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 .

930 Views, 0 Comments

Sharp Decline in May Sales, Low Inventory Keeps Market Firm

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.

1001 Views, 0 Comments

South Bethany Sales Stay Strong 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 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…

955 Views, 0 Comments

Coming Soon! South Bethany - 53 S Anchorage Drive

Beautiful canal front home with incredible views and a private boat dock located just a few blocks to the life-guarded beach in South Bethany. This meticulously maintained coastal home is bright and inviting. It offers an open concept on the first floor with the great room opening to a large waterfront screened porch and upper sun deck, creating the ideal layout for entertaining. The beautifully updated kitchen features crisp white cabinetry, tiled backsplash, stainless steel appliances and gorgeous hardwood flooring throughout the kitchen and main living areas. With 4 bedrooms plus a spacious loft, this home offers plenty of room for friends and family to gather at the beach. Situated on a quiet street with no thru traffic, ride your bike to the…

1258 Views, 0 Comments

Bethany Beach Announces 2022 Photo Contest Winners

Each year, the Town of Bethany beach invites amateur and professional photographers to submit photos for the town's annual photo contest.  The 2022 grand prize was awarded to Maryfrances Berger in recognition of her stunning "Running with the Gulls" photo.

To view all the winning photos, which will be featured in the 2022-2023 Town of Bethany Beach calendar, please click here.

1465 Views, 0 Comments

High Demand & Deficient Inventory at the Beach

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. 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 the Bethany-Fenwick market were down 19% 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 7%.   Properties continued to sell very quickly. In fact, 43 of the 58 properties that went under contract this year did so within 10 days. The…

1040 Views, 0 Comments

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…

1131 Views, 0 Comments

Bethany-Fenwick 2021 in Review

As we look back on 2021, shrinking inventory and strong demand created a competitive market like we have never experienced at the beach!

These conditions sent values surging in 2021 and real estate remains a solid investment. If you are considering a sale or looking to purchase, please give us a call.

*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 marketplace.

1279 Views, 0 Comments