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

We have been communicating for the last few months that the beach real estate market has slowed when compared to recent years and this trend continued through August. As the chart illustrates, sales in Sea Colony West are down 36% to-date while the continuation of limited inventory has kept the median sales price up 18%. Properties are still selling quickly, with 7 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

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

While total sales are down year-to-date in Sea Colony, the real estate market remains firm. In fact, the median price on the East is up 24% and up 18% on the West when compared to the first 7 months of last year. The median days to contract is still under one week and while there has been a slight rise in inventory, it is still at record lows.

As always, if we can offer you any real estate guidance, please call our Sea Colony Experts:Gail Phelan: 302-233-4909 and Chris Housman: 302-853-0192.

*Data was derived from the Sussex County MLS. Includes properties in Sea Colony. May not reflect all activity in the marketplace.

The kick-off to summer has arrived and we have enjoyed seeing so many visitors over the last few weeks! The month of May was slower for real estate as 7 properties went under contract in Sea Colony compared to 12 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 call Sea Colony Experts, Gail Phelan (302) 233-4909 and Chris Housman (302) 853-0192.

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

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,

During the first quarter of the year, we continued to experience a strong market for sellers. As the chart illustrates, the number of properties sold in Sea Colony was down 50% when compared to the first quarter of last year while sales volume was down just 11%. Properties continued to go under contract very quickly as inventory was down 71% year-over-year and 89% compared to 2020!

As always, if we can offer you any real estate guidance during this time, we are here to help! Please call  Sea Colony Expert, Gail Phelan: 302-233-4909.

Dreaming of summer? Introducing 105 Georgetowne House in the highly sought after community of Sea Colony East. This beach front, 1st floor, 3 bedroom, 2 bath condominium offers fabulous ocean views up and down the coastline and a walk out balcony that is just steps to the sandy shores of the Atlantic. A coastal, contemporary interior design welcomes you with hardwood laminate flooring in living areas and bedrooms, beautifully upgraded open kitchen with white glass front cabinetry, beveled granite countertops, lovely surround backsplash, stainless Frigidaire appliances and deep undermounted sink. White dining farm table seats 8 for family and friends to dine on local coastal cuisine and then retreat to newly furnished and beachy appointed living area

We are now into the month of March and are looking forward to the longer, light filled days ahead! Looking back on the first two months of 2022, real estate activity was extremely competitive with the continuation of deficient inventory and we experienced multiple offers in many situations. We have said this many times before: it is hard to predict how long this environment will last!

As the chart illustrates, total sales in Sea Colony were down 45% when compared to the same time last year as inventory remains at record lows—there are currently no properties for sale in Sea Colony! Sales volume in dollars (based on list price) was up 4% as 8 of the 11 sales were on the East. Properties continued to sell very quickly. In fact, 9 of the 11 units that

Typically, the month of January brings some slow down in real estate activity when compared with warmer months of the year, but we continue to be in a market like never before at the beach. Through multiple snow storms and blizzard conditions, 26 properties went under contract in the Bethany-Fenwick area in January.

We are often asked whether we are in a buyer’s market or a seller’s market. Based on our communications over the last 18 months, it should be no surprise that we are clearly in a seller’s market. However, to put this into perspective, we need to calculate Months of Inventory, also known as the Absorption Rate.  

The chart provided compares the supply of inventory at the beach on January 1 versus the same date in previous years. In

Happy New Year, we hope you and your family had a safe and healthy holiday season!

As we look back on 2021, you might recall that we predicted another strong year following a record shattering 2020. This proved to be true! The continuation of shrinking inventory and strong demand created a competitive market for buyers like we have never experienced. These conditions sent real estate values surging in 2021 and it remains an incredible time to be a seller! In fact, buyer demand remains high and there is only 1 property for sale in Sea Colony West versus 1 at this time last year and 11 at the close of 2019!

In 2021, we were fortunate to participate in 30% of sales in Sea Colony, representing the buyer, seller or both parties. Properties listed

Happy New Year, we hope you and your family had a safe and healthy holiday season!

As we look back on 2021, you might recall that we predicted another strong year following a record shattering 2020. This proved to be true! The continuation of shrinking inventory and strong demand created a competitive market for buyers like we have never experienced. These conditions sent real estate values surging in 2021 and it remains an incredible time to be a seller! In fact, buyer demand remains high and there are currently only 2 properties for sale in Sea Colony East versus 6 at this time last year and 18 at the close of 2019!

In 2021, we were fortunate to participate in 30% of sales in Sea Colony East, representing the buyer, seller or both parties.