Light traffic, cooler temperatures, and warm ocean breezes make September our favorite time of the year to live at the beach. This is also a special month for me, personally, as it marks 35 years since starting my career in real estate at the beach. I am extremely grateful to have earned the trust of so many of you over the years and together with Christi Arndt and the group, we will continue to offer the highest level of guidance and expertise in real estate well into the future!

After a flurry of activity in July, the beach real estate market slowed some in August when compared to the last year. During the month, 22 properties went under contract in the Bethany-Fenwick area. This compares to 28 during the same month last year. As the chart

While real estate activity in North Bethany was relatively flat this Spring when compared to last year, we experienced a nice flurry of activity in July. During the month, 7 properties went under contract in North Bethany (versus 2 in July of last year).

As the chart illustrates, sales are up 36% year-to-date, while sales volume is up 130%. Inventory has nearly doubled when compared to the same time last year, creating a little more competition for sellers. Meanwhile, properties continue to sell quickly with 18 days as the median days-to-contract.

So far this year, our group has participated in more than 53% of property sales in North Bethany. If we can offer you any real estate guidance, please give us a call.

Leslie Kopp                  

This is the time of year when we calculate absorption rates in order to understand whether we are trending in the direction of a buyer’s or seller’s market at the beach. We compare the pace of sales over the previous 12 months to determine how many Months Supply of Inventory is for sale.

Generally, a balanced market would have 7 months of inventory while more would be a buyer’s market and less a seller’s market. The market is clearly shifting as all areas moved in a favorable direction for buyers. We continue to stay in a seller’s market from North Bethany to South Bethany, but growing inventory in Fenwick Island has shifted that area into a buyer’s market.        

If you would like to discuss the market in more detail as a buyer or a seller,

We are thrilled to announce that The Leslie Kopp Group is once again the Presenting Sponsor of the Annual Beach & Bay Cottage Tour, now in its 32nd year! This year's event offers the opportunity to experience the tour both in-person and virtually.

Photo courtesy of Beach & Bay Cottage Tour

By purchasing a Virtual Only ticket for $35, you can explore all 10 homes on the tour from the comfort of your own home. When you purchase an In-Person ticket $50, the Combo Ticket grants you access to visit 6 pre-selected homes in-person, as well as virtual access to every single home. Virtual tours will be available from Sunday, July 14th to Sunday, August 4th, while in-person tours will take place on Wednesday, July 24th & Thursday, July 25th.

Tickets are

The summer season is upon us, and we have enjoyed seeing so many of you enjoying the area over the last few weeks! During the month of May, 20 properties went under contract in the Bethany-Fenwick area.  20 properties were also under contract at this time last year, and 21 in May of 2022. There is some softening of values, particularly in the single family home market. However, there are still plenty of buyers waiting for specific properties to be listed, especially those closest to the beach.

If you have any questions about the market in general or and specific property, please give us a call.

Leslie Kopp
(302) 541-5207        

Christi Arndt
(302) 245-5223               

Happy Spring! Last month, we shared with you that after many years of deficient inventory, we were starting to see properties coming on the market more frequently. As we start the month of May, this trend continues as inventory in the Bethany-Fenwick market is up 58% when compared to the same time last year.

The beach real estate market remains firm. As the chart illustrates, sales activity is up 14% so far this year when compared to the first 4 months of 2023 and sales volume is up 19%. Properties are taking a little longer to sell with 11 days as the median days-to-contract so far this year, vs. 9 days last year. Meanwhile, prices are stable.      

The busy Summer season is just around the corner, if we can offer you any real estate guidance,

Photo courtesy of Sussex County Property Reassessment

Just in the last week or so, homeowners in Bethany Beach, Fenwick Island and other surrounding towns have started to receive letters from Tyler Technologies regarding the reassessment of their property. The letter asks property owners to review Sussex County's current building information provided, and to make corrections to any inaccurate reporting.  

As a reminder, Sussex County, in connection with Tyler Technologies, is currently undergoing a county-wide reassessment of all real property, resulting in new property values for both residential and commercial property.  The revaluation is being carried out to adhere to a 2020 ruling by the Delaware Chancery Court, which deemed the property taxing

Coalition for a Safer North Bethany Beach has announced that two events have been scheduled regarding the DelDOT Study along SR 1 between Bethany Beach and the Indian River Inlet Bridge. The purpose of the Study is to evaluate alternatives that will improve safety and provide low-stress bicycle and pedestrian facilities, and to develop a conceptual design and cost estimate for a recommended alternative. DelDOT will also be installing short-term improvements including three Rapid Rectangular Flashing Beacons. This spring, there are three ways you can learn more and provide feedback on the Study and planned short-term improvements:

1.       Attend the May 8 Public Workshop in person at the South Coastal Library
   

The Delaware

March has arrived and we are looking forward to longer light filled days ahead! The Bethany-Fenwick area had a good start to the year for real estate activity. While it is not the frenzy that we experienced in 2021 and 2022, to-date, sales are up considerably when compared to last year.

As the chart illustrates, through the first two months, new contracts were up 34% when compared to the same time last year. Inventory is slowly rising, but remains at historical lows. Sales volume in dollars (based on list price) was up 30%.   Properties that are priced appropriately continue to sell very quickly and the average sale price for properties settled in January and February was down 5% when compared to the same months in 2023. This is due to the fact

Provided by Delaware Department of Transportation

The purpose of the North Bethany Bicycle and Pedestrian Corridor Study is to evaluate alternatives to provide low-stress bicycle and pedestrian facilities along SR 1 between Bethany Beach and the Indian River Inlet Bridge, and to develop a conceptual design and cost estimate for a recommended alternative. These concepts will be developed based on the public feedback received to date and the results of the existing conditions assessment. The potential alternatives may include recommendations for traffic calming, median crossover closures/consolidations, shared use path(s), protected bike lanes, dedicated right-turn lanes, sidewalks, and crossing improvements.

Public Process

Concepts