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Found 61 entries about Ocean View & Bear Trap Dunes Real Estate Blog.

We are just one month into the year and so far, we are experiencing good buyer activity in Ocean View and Bear Trap Dunes! In January, 27 properties went under contract in Ocean View, up from 24 sales during the same month last year. In your community of Bear Trap, there were 4 sales, up from 3 last year.      

During this time of the year, we like to calculate absorption rates to determine whether we are trending in the direction of a buyer’s or seller’s market. We compare the pace of sales over the previous 12 months to calculate how many Months Supply of Inventory is for sale. Generally, a balanced market would have between 6 to 7 months of inventory.  

We remain in a Seller’s Market for Bear Trap Dunes and Ocean View Real Estate. If you are

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We are just one month into the year and so far, we are experiencing good buyer activity in Ocean View! In January, 27 properties went under contract in Ocean View. This is up compared to 24 sales during the same month last year, even though there is 15% less inventory available.    

During this time of the year, we like to calculate absorption rates to determine whether we are trending in the direction of a buyer’s or seller’s market. We compare the pace of sales over the previous 12 months to calculate how many Months Supply of Inventory is for sale. Generally, a balanced market would have between 6 to 7 months of inventory.  

We remain in a Seller’s Market for Ocean View and Bethany Beach real estate. If you are looking for an Ocean View condo

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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 the 2023 real estate market, you might recall that the first few months were much slower when compared to 2021 and 2022. Inventory shortages continued to play a role in the slow down and interest rates rose to their highest level in more than 20 years. There was some rise in activity later in the year and we are hopeful this positive momentum carries into 2024.  

In December, there was good news for the real estate market when the Federal Reserve held their key interest rate steady for the third time and suggested that there could be rate cuts in 2024. This news has us optimistic about the year ahead for real estate in Bear Trap Dunes.  If you

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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 the 2023 beach real estate market, you might recall that the first few months were much slower when compared to 2021 and 2022. Inventory shortages continued to play a role in the slow down and interest rates rose to their highest level in more than 20 years. Sales picked up in the Fall and the positive momentum carried through the end of the year.  

In December, there was good news for the real estate market when the Federal Reserve held their key interest rate steady for the third time and suggested that there could be rate cuts in 2024. This news has us optimistic about the year ahead for Ocean View Real Estate!  If you have any questions,

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The Coastal Point recently announced that two dredging projects are set to begin around the new year. The first will begin at the Southern end of the Assawoman Canal, and the DNREC’s project on White Creek is expected to be completed by spring.

Credit to: Coastal Point

Assawoman canal dredge to benefit salt marsh | State | coastalpoint.com
Coastal Point

DNREC officials announced this week that two dredging projects in southern Delaware are set to begin around the new year. Dredging is to start at the southern end of the Assawoman Canal, and when the canal portion is completed (anticipated for early February 2024), DNREC-contracted dredge crews will move into White Creek resuming a project that is expected to finish by late winter or early spring.

DNREC is aiming to improve navigability on what officials said are

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 As we look back at the first 3 quarters of 2023 compared to recent years, the Ocean View real estate market remained firm, even as interest rates rose to levels that we have not experienced in more than 20 years.

The continuation of inventory shortages coupled with pent up buyer demand has kept values stable. Inventory of properties for sale in Ocean View was flat on October 1 when compared to the same day in 2022.

If you are exploring your options as a buyer or seller of Ocean View real estate, we always welcome a conversation. Please message us on the website or give us a call at our real estate office in Ocean View: 302-541-5207.

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As we look back at the first 3 quarters of 2023 compared to recent years, the Bear Trap real estate market slowed considerably. Even as interest rates rose to levels that we have not experienced in more than 20 years, the primary factor that contributed to the slowdown was the continuation of inventory shortages.

Last Fall, we experienced a slight uptick in inventory, but as the chart illustrates, that has not been the case so far this year. Inventory in Bear Trap was down 40% on October 1 of 2023 when compared to the same day in 2022.

History tells us that real estate as a long term investment is very strong and the ability to have immediate use and enjoyment of a home asset is something that we hear often from buyers, especially in today’s

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For a number of months, we have been reporting that sales are down when compared to the same month last year and while August sales were down again in Bear Trap (4 vs. 7), this trend broke for Ocean View as well as the surrounding beach markets as a whole. During the month of August, 25 properties went under contract in Ocean View vs. 20 in 2022. Meanwhile, inventory remained stable. We don’t know how long this little flurry of activity will last, but it feels as though buyers are motivated to move on the right property.

 

As the chart illustrates, total sales year-to-date in Bear Trap Dunes are down 34% while the median salesprice is down 7%. Properties tend to sell in just under a month with 24 days being the median amount of time to go
under

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For a number of months, we have been reporting that sales are down when compared to the same month last year. This trend broke in August!   During the month, 25 properties went under contract vs. 20 in August of 2022. Meanwhile, inventory has remained relatively stable with 77 properties for sale versus 73 at this same time last year. We don’t know how long this little flurry of activity will last, but it feels as though buyers are tired of waiting for better buying conditions and they are motivated to move on the right property.

 August Real Estate Market Update

As the chart illustrates, total sales year-to-date in Ocean View are down 12% while the median sales price is down 2%. Properties tend to sell in just under a month with 25 days being the median amount of time to go under

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It is hard to believe that Labor Day weekend is right around the corner, we hope you are having a wonderful summer! While total real estate sales are down 28% year-to-date in Bear Trap, the market remains very strong.

It has been more than a year since the “buyer frenzy” we experienced in 2020 through early 2022, but it remains a strong time to be a seller with minimal competition.

As always, if we can offer you any real estate guidance, please call our Bear Trap Expert:
Gail Phelan: 302-233-4909

Data was derived from the Sussex County MLS. Includes Single Family and Condo/Townhome properties in Bear Trap Dunes. May not reflect all market activity .

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