For the last few months, we have shared with you that the real estate market has been slowing at the beach, but as the graph illustrates, Bear Trap property values continued to appreciate during 2022.

If you are considering a purchase or a sale, we welcome a conversation to strategize about how to ensure the best results in this shifting market! Please call Bear Trap Specialist Gail Phelan (302) 233-4909.

During this time of Thanksgiving, we are grateful for your continued confidence in our group. We all wish you and your loved ones a healthy and joyful holiday!

*Data was derived from the Sussex County MLS. Includes properties sold in Bear Trap Dunes and Ocean View, DE. May not reflect all activity in the marketplace.

We all hear economic and financial data from multiple sources. At the end of the day, we feel it is important to share both the sales data in the chart provided and also some perspective on what we are experiencing first-hand.

As we reflect on the last 6 months or so, we started to notice a difference in the temperature of the market in the March/April timeframe. None-the-less, through a rising interest rate environment and uncertainty in the financial markets, we continued to see, and we are still seeing properties sell very quickly. Seven of the last 10 properties that went under contract in Ocean View did so in under 2 weeks. These properties ranged in price from $245K to just under $1 million.

Given the state of the economy, we continue to

We all hear economic and financial data from multiple sources. At the end of the day, we feel it is important to share both the sales data in the chart provided and also some perspective on what we are experiencing first-hand.

As we reflect on the last 6 months or so, we started to notice a difference in the temperature of the market in the March/April timeframe. None-the-less, through a rising interest rate environment and uncertainty in the financial markets, we continued to see, and we are still seeing properties sell very quickly. Seven of the last 10 properties that went under contract in Bear Trap did so in under 3 weeks.  

Given the state of the economy, we continue to be surprised that more people are not reaching out for valuations of

Warm sunny days, cool nights and light traffic make this our favorite time of the year at and we hope that you are enjoying this season!  

We have been communicating for the last few months that the real estate market has slowed when compared to recent years and this trend continued through August. As the chart illustrates, sales in Ocean View are down 28% to-date while the continuation of limited inventory has kept the median sales price up 30%. Properties are still selling quickly, with 8 days being the median amount of time to go under contract. 

 On a personal note, September is always a special month for me as it marks 33 years since starting a career in real estate at the beach. I feel extremely fortunate to have earned the trust of so

Warm sunny days, cool nights and light traffic make this our favorite time of the year and we hope that you are enjoying this season! 

We have been communicating for the last few months that the real estate market has slowed when compared to recent years and this trend continued through August. As the chart illustrates, sales in Bear Trap are down 9% to-date while the continuation of limited inventory has kept the median sales price up 22%. Properties are selling quickly, with 6 days being the median amount of time to go under contract.

On a personal note, September is always a special month for me as it marks 33 years since starting a career in real estate at the beach. I feel extremely fortunate to have earned the trust of so many of you over

We hope you are having a wonderful summer, it is hard to believe we are well into August already!

While total sales are down year-to-date in Bear Trap, the real estate market remains firm. In fact, the median price for single family homes in Bear Trap is up 33% and 25% for condo/townhomes when compared to the first 7 months of last year. The median days to contract is just 5 days and while there has been a rise in inventory, it is still at record lows.

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 .

We hope you are having a wonderful summer, it is hard to believe we are well into August already!

While total sales are down year-to-date in Ocean View, the real estate market remains firm. In fact, the median price for single family home sales is up 7% and 21% for condo/townhomes when compared to the first 7 months of last year. The median days to contract is just 8 days and while there has been a rise in inventory, it is still at record lows.

As always, if we can offer you any real estate guidance during this time, please give us a call: 302-541-5207.

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

The kick-off to summer has arrived and we have enjoyed summer-like temperatures and many bright sunny days over the last few weeks! Through May, sales were slower for real estate as 18 properties went under contract in Bear Trap compared to 26 during the same time last year.

While we are certainly experiencing a slow down in market activity, real estate remains a strong investment with appreciation over time.  If you have any questions related to real estate, we are here for you. Please call Bear Trap Expert, Gail Phelan: (302) 233-4909.

The kick-off to summer has arrived and we have enjoyed summer-like temperatures and many bright sunny days over the last few weeks! The month of May was slow for real estate as just 16 properties went under contract in Ocean View, compared to 49 at the same time last year.

While we are certainly experiencing a slow down in market activity, real estate remains a strong investment with appreciation over time. If you have any questions related to real estate, we are here for you. Please give us a call, (302) 541-5207.

Happy Spring!  As we look back on the first 4 months of the year, there was some slowdown in total sales, but the Bear Trap real estate market remains firm as we continue to experience very limited inventory.

A positive piece of news for real estate that we are watching closely is the Delaware legislation recently introduced that would reduce the transfer tax by 1%, effective for transactions recorded after July 1, 2022.  This would bring the total tax back to 3% vs. 4%.  Typically, this expense is split between the buyer and seller at closing.  While not yet in effect, we are encouraged that this bill will be passed and we will keep you informed.      

If you would like to discuss the market in more detail, please call our Bear Trap Expert, Gail