This is the time of year when we like to calculate absorption rates in order to understand 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 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. At this time, Bear Trap continues to be well under a balanced market, staying in a seller’s market due to good buyer activity and at the present time, zero inventory of properties available for sale.

If you would like to discuss the market in more detail as a buyer or a seller, please call our Bear Trap Specialist.

Gail Phelan
(302)

This is the time of year when we like to calculate absorption rates in order to understand 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 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. While inventory is growing Ocean View continues to be well under a balanced market, staying in a seller’s Market due to good buyer activity.

If you would like to discuss the market in more detail as a buyer or a seller, please give us a call.

(302) 541-5207

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 Bear Trap Dunes over the last few weeks! During the month of May, just 1 property went under contract in Bear Trap. This compares to 1 at the same time last year and 2 in May of 2022. While there is vulnerability in the market, the continuation of low inventory in Bear Trap has kept values elevated (currently there are no properties for sale in the community).

If you have any questions about the market in general or any specific property, please call our Bear Trap Expert:

Gail Phelan (302) 233-4909

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, 35 properties went under contract in the town of Ocean View.  This compares to 30 properties at the same time last year, and 17 properties in May of 2022. Overall, values are stable in Ocean View to-date when compared to last year.  Inventory is up just slightly with 87 properties currently listed for sale versus 77 at this time last year.

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

(302) 541-5207

 
Details courtesy of The Town of Ocean View

Congratulations are in order for the Historic Town of Ocean View, as it will soon celebrate it's 135th Anniversary.  The celebration is scheduled for Saturday, June 15th from 12:30pm until 5:30pm at John West Park in Ocean View.  To kick things off, the Town of Ocean View has scheduled a parade down West Avenue which will begin at 12:30pm.  Additional fun includes an Ocean View Brewing Company Beer Garden with commemorative 4-packs and draft sales, live music entertainment, food sales, sweet treats, and so much more!  

 Head down to the heart of Ocean View to enjoy a day filled with activities for all ages, ranging from tours through the Historic Village in Ocean View, as well as visits from the Ocean

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 Ocean View is up 20% when compared to the same time last year.

As the chart illustrates, sales activity is down 6% so far this year when compared to the first 4 months of last year. Sales volume is down 8%. Properties are selling more quickly with 21 days as the median days-to-contract so far this year vs. 29 days last year. Meanwhile, there is some softening of prices as the median sale price to-date is down 9%.     

While the market has been slower in Ocean View, the busy Summer season is just around the corner! If

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. While inventory in Bear Trap is stable, as we start the month of May, there are 83 properties for sale in Ocean View. This is up 20% when compared to the same time last year.

In the community of Bear Trap, the real estate market remains strong. As the chart illustrates, sales activity through April matched 2023 with 12 properties going under contract so far this year. Sales volume is up 8% and the median sale price is up 37% year-over-year. Properties are selling more quickly with 12 days as the median days-to-contract so far this year vs. 39 days last year.   

As always, if we can

Credit to: Susan Canfora, Coastal Point

Ocean View Town Council members said at their budget workshop on Tuesday this week that they were pleased taxes won’t increase this year, but Town Manager Carol Houck warned that there will likely be a hike next year. “I anticipate a 1-cent increase” through the 2029 fiscal year, “and I don’t foresee our ability to not increase the tax rate” in the 2026 fiscal year, Houck said at the Feb. 27 workshop on the Town’s 2025-fiscal-year budget.

“We have maintained the tax rate for the third year in a row, and getting to the current rate included a 3-cent reduction three years ago. We’re proud of that and all we have been able to accomplish,” she said.

The current property tax rate for the Town is $.2378 per $100

March has arrived and we are looking forward to longer light filled days ahead! The Ocean View area had a firm 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 keeping pace with last year.

As the chart illustrates, through the first two months, 50 properties went under contract in Ocean View compared to 53 during the same time last year. Inventory remains at historical lows and
properties that are priced appropriately continue to sell quickly although the average days to contract is rising. The median sale price of properties settled in January and February was up 7% when
compared to the same months in 2023!

If you are considering buying or selling, please give us a