While the stock market has shown volatility in recent weeks, the beach real estate market has remained very firm. Mild winter weather and exceptional interest rates have contributed to strong buyer activity early in the year.
As the chart illustrates, total sales are up 6% to-date when compared to the same time last year and sales volume in dollars (based on list price) is up 18%. Properties are selling almost a month faster, on average, when compared to 2019. So far this year, 14 properties listed for $1million+ have gone under contract in the Bethany-Fenwick area. This is up 43% over the same time last year as demand for homes East of Rt 1 has been notably high.
With the Spring season just around the corner, now is an opportune time to list your property or begin your search for a new home. Please give us a call to strategize about how to maximize your results in 2020.
Leslie Kopp & Christi Arndt