Last month, we shared with you that real estate sales had been strong through the first 3 quarters of the year for Ocean View. After a tremendous September, the momentum slowed in October as 25 properties in Ocean View went under contract last month. This is down 17% compared to 30 sales in October of 2023. As the graph illustrates, the median sale price for condo/townhome properties in Ocean View have risen in 2024 while single family values have held firm.  During this time of Thanksgiving, we are grateful that so many of you look to our group for real estate guidance and expertise.  We wish you all a healthy and very joyful holiday!

If you are considering a purchase or a sale, it is never too early to have a conversation. Please give us a call:

Last month, we shared with you that real estate sales had been strong through the first 3 quarters of the year for Bear Trap Dunes and Ocean View. This momentum slowed in October as 25 properties in Ocean View went under contract last month. This is down 17% compared to 30 sales in October of 2023 and there were no new sales in Bear Trap in October versus one last year. As the graph illustrates, the median sale price for properties in Bear Trap and Ocean View as a whole have risen in 2024.  During this time of Thanksgiving, we are grateful that so many of you look to our group for real estate guidance and expertise.   We wish you all a healthy and very joyful holiday!

If you are considering a purchase or a sale, it is never too early to have a

Last month, we reported that the Bear Trap real estate market was firm with 4 sales in August. We are pleased to share that buyer activity picked up nicely in September! During the month, 5 properties sold in Bear Trap and 52 properties went under contract in Ocean View as a whole. This is up 79% in Ocean View when compared to 29 sales during the same month last year and up 25% year-over-year for Bear Trap.

As the chart illustrates, through the first 3 quarters of the year, the market has remained firm. While it is taking just a few days longer for properties to sell, the median sale prices are holding firm for all property types.   If you are exploring your options as a buyer or seller, we always welcome a conversation.

Please call our Bear

Last month, we reported that the Ocean View real estate market slowed some in August. We are pleased to share that buyer activity picked up nicely in September ! During the month, 52 properties went under contract. This is up 79% when compared to 29 sales during the same month last year.

A nice rise in newly available inventory, was a leading factor that contributed to this flurry of activity. As the chart illustrates, through the first 3 quarters of the year, the market has remained firm. If you are exploring your options as a buyer or seller, we always welcome a conversation.

Please give us a call (302) 541-5207

This month, we will be hosting the Wags, Witches and Warlocks Halloween parade in downtown Bethany Beach. We hope to see you and

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 a 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, Gail Phelan, and the group, we will continue to offer the highest level of guidance and expertise in real estate well into the future!

The real estate market for Bear Trap has remained firm when compared to last year. During the month of August, 4 properties went under contract in Bear Trap which is consistent with 4 during the same month last year. As the chart illustrates, sales year-to-date

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 a 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!

The real estate market in Ocean View remained firm in August. During the month, 27 properties went under contract. This compares to 29 during the same month last year. As the chart illustrates, sales year-to-date are down 12% and the median sale price is up 2%. Competition

After a firm start to the year that was fueled by more inventory in Bear Trap, we experienced some slowing in June and July. During those 2 months, 3 properties went under contract in Bear Trap Dunes (versus 4 during the same time last year).

As the chart illustrates, sales are relatively flat year-to-date while sales volume is up. Inventory remains a challenge as there were just 2 listings for sale in your community at the end of July, compared to 4 at the same time last year. Meanwhile, properties continue to sell quickly with 14 days as the median days-to-contract.

So far this year, our group has represented more clients in Ocean View (buyers and sellers combined) than any other agent or group. If we can offer you any real estate guidance,

Real estate activity in Ocean View has remained slower when compared to last year. After a firm Spring market that was fueled by increased inventory and more buying options, we experienced some slowing in June and July. During those 2 months, 43 properties went under contract in Ocean View
(versus 55 during the same time last year).

As the chart illustrates, both the number of sales and sales volume in dollars are down year-to-date. Inventory has increased 15% when compared to the same time last year, creating more competition for sellers. Meanwhile, properties are taking a little more time to go under contract.

So far this year, our group has represented more clients in Ocean View (buyers and sellers combined) than any other agent or group. As

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