So far in 2021, the market has proven to be extremely competitive for Buyers as inventory remains deficient and demand is extremely high.  Prices are rising sharply and multiple offers are the norm.

In recent months, sale prices have reached levels that match and in some cases exceed values of comparable sales during the 2005/2006 boom.  The median sale price of properties sold to-date in 2021 is up 19% over 2017 for Sea Colony East and 56% for Sea Colony West.  There are currently just 4 properties for sale on the East and zero on the West.  It is hard to predict how long this market will last, but we do know that Spring is upon us and  NOW is an opportune time!  Please call our Sea Colony Experts: Gail Phelan 302-233-4909 or Despina Kaneles

Typically, January brings some slow down in real estate activity when compared with our warm summer months, but we are experiencing a time like never before at the beach. In fact, in January, 7 properties went under contract in Sea Colony.  This is up 40% over 5 in January of 2020 and it would be much higher if there was more inventory available.  There are currently 5 listings in the East and zero on the West!

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

Happy New Year!  We hope you and your family had a safe and healthy holiday season. As we look back on an incredible year for beach real estate, you might recall that 2020 started strong in early months and slowed with the onset of COVID-19 in March and April.  The market came back in May and the positive momentum carried through the year.

Importantly, there has been a sharp decline in available inventory which is down a significant 67%, year-over-year! There are currently 6 properties for sale in Sea Colony East versus 18 at this time last year.

We feel very fortunate to have participated in 33% of sales in Sea Colony East during 2020, representing the buyer, seller or both parties. We are extremely grateful for your continued loyalty and wish

Happy New Year!  We hope you and your family had a safe and healthy holiday season. As we look back on an incredible year for beach real estate, you might recall that 2020 started strong in early months and slowed with the onset of COVID-19 in March and April.  The market came back in May and the positive momentum carried through the year.

Importantly, there has been a sharp decline in available inventory which is down a significant 67%, year-over-year!  There is currently 1 property for sale in Sea Colony West versus 11 at this time last year.

We feel very fortunate to have participated in nearly 30% of sales in Sea Colony during 2020, representing the buyer, seller or both parties. We are extremely grateful for your continued loyalty and wish