Slower Start, Inventory Limited in South Bethany
Last month, we reported that the exceptionally wet and cold winter weather was not ideal for prospective buyers to visit the beach. A look back at the first quarter shows us that total sales in South Bethany were off nearly 35% when compared to a very strong start in 2018. However, two encouraging statistics are that the sale-to-list price ratio increased and properties that sold went under contract 5 months faster than last year’s pace.
It is important to note that for quite some time, the number of homes actively for sale in South Bethany has been well below the 10 year average of 45 properties. There are currently 20 for sale – limited inventory continues to be a big factor!
We are proud to share that we had the fortunate opportunity to participate in 41% of the transactions in the Bethany-Fenwick area during the first quarter, representing the buyer, seller, or both parties. If you are considering a sale, our market knowledge and experience in unmatched. Please give us a call at 302-541-5207.
Leslie Kopp & Christi Arndt