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For more than a year now, we have shared with you that the beach real estate market has been extremely strong for sellers with limited inventory leading to rising prices. This trend has continued and as of August 1, there were 35 properties for sale in the Bethany-Fenwick area versus 101 at this time last year.

In the month of July, 37 properties went under contract (versus 67 in July of 2020). During the month, 38 new properties were listed for sale (versus 59 new listings in July of 2020). There continues to be pent up buyer demand as inventory cannot keep pace and many properties are selling within just a few short days! 

 

As we look toward the fall and winter months, we anticipate a rise in new listings and there is no way to predict how

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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. 

Fenwick Island median sale price

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

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Happy New Year!  We hope you and your family had a safe and healthy holiday season. As we look back on an incredible year for beach real estate, you might recall that 2020 started strong in early months and slowed with the onset of COVID-19 in March and April.  The market came back in May and the positive momentum carried through the year.

Importantly, there has been a sharp decline in available inventory which is down a significant 46%, year-over-year!  There are currently 19 properties for sale in Fenwick Island versus 35 at this time last year.

We feel very fortunate to have participated in 30% of sales in the Bethany-Fenwick market during 2020, representing the buyer, seller or both parties.  We are extremely grateful for your continued

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