After a late summer slow down, the Bethany-Fenwick market experienced a significant rise in sales during October when compared to 2017. In Fenwick Island alone, 4 properties went under contract versus 2 last year.

Buyers benefited from a nice jump in September inventory and we were fortunate to represent the seller of the only single family home sale in Fenwick during the month. This property went under contract in less than 2 weeks!  

As the chart illustrates, year-to-date sales been slow when compared to 2017, but this does not tell the whole story. Properties are going under contract more than 2 months quicker than a year ago and the higher-end market is strong. These are encouraging trends and over-all, we are optimistic about the market as we

After the strongest start to the year in more than a decade, real estate activity slowed early this summer and the trend carried through August. Sales last month of both single-family homes and condo/townhomes were down considerably compared to August of 2017. Inventory is now on the rise in several areas and we will be monitoring closely to see if this brings more buyers to the area this fall.

On a personal note, September is always a special time for me. It was 29 years ago this month that I started a career in real estate at the beach. I cannot begin to express how fortunate I feel to have earned the trust of so many of you over the years and today, my group is stronger than ever. We continue to work with far more buyers and sellers than any

It is hard to believe that we are more than half of the way through the year and while the beach real estate market as a whole is trending in a positive direction, Fenwick Island has experienced some slowing when compared to 2017.

As the chart indicates, through July, the total number of both single family homes and condo/townhomes sold are down. Meanwhile, the pace of sales has improved some and $1million+ sales have held firm. Inventory is down across all property types in Fenwick which is certainly a factor. This time last year, there were 44 properties for sale versus 30 on the market today.    

It’s never too early to begin strategizing. If you are considering a future purchase or sale, please give us a call to discuss your goals: (302)

One year ago, we communicated to you that after nearly 5 years of price stability, we were beginning to see property values on the rise. As the graph illustrates, there is no question that prices continue to climb. The median sale price of single family homes and condo/townhomes sold through May of this year is up a significant 8% when compared to 2017. 

While values as a whole are still more than 20% lower than 2006 when prices peaked, the appreciation that the market has experienced over the last 12 months is significant! Please let us know if you are considering buying or selling at the beach.  We would love the opportunity to speak with you. 

Leslie  

*Data was derived from the Sussex County MLS. Includes new contracts on properties

While the winter weather was not ideal to encourage buyers to visit during the first quarter of 2018, the overall beach real estate market was strong. In fact, conditions are more favorable today than they have been in over a decade from North Bethany to Fenwick Island.

Total sales, prices and the pace of sales are all trending in a positive direction. For more than a year, we have been communicating to you that the combination of high buyer activity and shrinking inventory would lead to the rising prices that we are experiencing today. In fact, median sale prices are up between 3% and 6%, depending on the property type and location when compared to 2017.      

It’s never too early to begin strategizing! Please give us a call to discuss how to

 Bethany - Fenwick Island Real Estate

One year ago, we reported to you that January and February market activity was the strongest that we had experienced in more than a decade. The start to 2018 has been even more impressive for the market as a whole. The number of properties that went under contract during the first two months from North Bethany to Fenwick Island was up 22% year-over-year !

Sales volume in dollars is up by less because the majority of the increase is attributed to condo/townhome activity (39 vs 24 new contracts). Single family home sales softened some due to the continuation of limited inventory (28 vs 34).

South Bethany sales are down slightly (4 vs 5) which is due to very low inventory while Fenwick Island sales (5 vs 6)

We are often asked whether it is a buyer’s market or a seller’s market at the beach. Knowing the Months of Inventory available helps to determine the type of market. Absorption rates tell us how many months it will take to sell all existing homes for sale at the current pace of sales. Generally, 7 months of inventory is a neutral market, more is a buyer’s market, less is a seller’s market.

The areas of South Bethany (4 months) and Bethany Beach (6 months) are both a seller’s market for single family homes. North Bethany and Fenwick Island are technically in a buyer’s market with 12 months of inventory. However, several properties recently listed for sale went under contract within a few days and some homes received multiple offers very

After significant strengthening from 2015 to 2016, the Fenwick Island market remained robust in 2017. Activity was on pace to end the year with even more impressive numbers but the uncertainty of impending tax reform and limited inventory in many areas contributed to a temporary slow down late in the year. We are pleased that the final tax bill is significantly better for homeowners than early versions.

We are grateful to have participated in more Bethany-Fenwick real estate transactions than any other agent or group in 2017 and we are overwhelmed with gratitude for your continued confidence in us!

Click here to search all Fenwick Island Real Estate for sale.

Leslie Kopp
(302) 541-5207

Year-to-date, 2017 has been exceptional for property owners! As the snapshot below illustrates, the Bethany Beach and Fenwick Island market is trending in a favorable direction when compared to the first 10 months of 2016 for 5 major market indicators.

We did experience some slowdown in sales at the beach in late September that continued into October for both single family and condo/townhomes. Limited inventory is a big contributing factor. Additionally, the impending tax reform could have some buyers on pause until there is less uncertainty surrounding our future tax structure. We will know more in the coming months, but this is something to watch.

We would like to wish you and your loved ones a safe and joyful Thanksgiving!

Leslie Kopp

Our favorite time of year is upon us! Warm ocean breezes and light traffic make for ideal Autumn conditions at the beach. We hope you are able to enjoy some quality time on the Delaware Coast in the coming weeks.

Early in 2017, we communicated to you that real estate sales were at levels we had not experienced in the last 10 years and all signs pointed to the continuation of a strengthening market. Now that the busy summer season has ended, we can report with confidence that this trend has endured.

In fact, there were year-over-year gains in new contracts for 11 of the last 12 months. This is the longest period of positive upward movement that we have experienced in more than a decade. In the Bethany-Fenwick area, 48 properties sold in the month of