So far in 2021, the market has proven to be extremely competitive for Buyers as inventory remains deficient and demand is extremely high. Prices are rising sharply and multiple offers are the norm.
In recent months, sale prices have reached levels that match and in some cases exceed values of comparable sales during the 2005/2006 boom. The median sale price of properties sold to-date in 2021 is up 32% over 2019 for the Bethany-Fenwick market as a whole. Prices are up 134% in Fenwick Island to-date when compared to 2019. This is inflated due to a few high dollar sales early in the year, but the trend is none-the-less very impressive. It is hard to predict how long this market will last, but we do know that Spring is upon us and NOW is an opportune time! If you are considering a sale or looking to make a purchase, please give us a call to strategize about maximizing your results in this market!