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COVID-19 Slowdown at the Beach

Posted by Leslie Kopp & Christi Arndt on Wed, April 1st, 2020 at 3:15 pm.

First and foremost, we hope you and your loved ones are safe and healthy as together, we navigate the COVID-19 epidemic.  Two weeks ago, we promised to maintain our communication and share facts about what we are experiencing at the beach.

On March 15th, sales were up a significant 93% for the month as 27 properties had been put under contract in the Bethany-Fenwick area.  Of those 27 contracts, 7 have cancelled. As the chart illustrates, in the last 2 weeks of the month, sales were down 53%.  Nine properties went under contract compared to 19 during the same time last year.  Activity has certainly slowed, but our group continues to write and receive offers.  We feel fortunate to have the ability to continue showing property in person and also through the use of applications such as Facetime and Zoom.  We have had buyers make offers on properties after showings that were completed through this technology.

While the longer-term economic impacts are yet to be known, we are very optimistic about the future for the Delaware Beaches as an escape/destination that requires limited travel.  Please reach out if you have any questions, we are here for you !

*Data was derived from the Sussex County MLS. Includes contracts on properties in Bethany Beach, North Bethany, South Bethany & Fenwick Island. It may not reflect all activity in the marketplace.

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