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Found 23 entries about South Bethany Real Estate Blog.

Happy New Year! As we reflect on 2022, you might recall that the surge in real estate activity we felt in 2020 and 2021 carried into the first quarter of 2022 and then slowed in the second quarter. There was moderate activity in the second half of the year. However, rising interest rates coupled with the continuation of extremely low inventory contributed to a slowdown in both sales and appreciation later in the year.  While there is still plenty of uncertainty about what the state of the economy means for real estate in the short term, we are enthusiastic about the year ahead!

In 2022, we were fortunate to participate in 41% of sales in South Bethany, representing the buyer, seller or both parties. If you are considering a sale or looking to

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For the last few months, we have shared with you that the beach real estate market has been slowing, but as the graph illustrates, both single family homes and condo/townhome properties in the Bethany-Fenwick area continued to appreciate in value during 2022.

If you are considering a purchase or sale, we welcome a conversation to strategize about how to ensure the very best results in this shifting market!  

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 Fenwick Island, South Bethany, Bethany Beach & North Bethany. May not reflect all activity in the

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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, just not at the frenzied pace we experienced early in the year. Three of the last five properties that went under contract in South Bethany did so in under 2 weeks and they all did so within a month.

Given the state of the

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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. Sales year-to-date in South Bethany are down 16% to-date while the continuation of limited inventory has kept the average sales price is up 15%. Properties are still selling quickly, with 9 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

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We hope you are having a wonderful summer! It is hard to believe we are already nearing the end of August!

While total sales are down year-to-date in the Bethany-Fenwick area, the real estate market remains firm. In fact, the median price of single family homes is up 10% and 17% for condo/townhomes when compared to sales in the first 7 months of last year. The median days to contract is just 7 days 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 give us a call.

 

 *Data was derived from the Sussex County MLS. Includes Single Family and Condo/Townhome properties in zip codes 19930 and 19944. May not reflect all market activity .

 

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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 slow for real estate as just 21 properties went under contract in the Bethany-Fenwick area, compared to 41 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.

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Happy Spring!  As we look back on the first 4 months of the year, there was some slowdown in total sales, but the beach 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, please

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Beautiful canal front home with incredible views and a private boat dock located just a few blocks to the life-guarded beach in South Bethany. This meticulously maintained coastal home is bright and inviting. It offers an open concept on the first floor with the great room opening to a large waterfront screened porch and upper sun deck, creating the ideal layout for entertaining. The beautifully updated kitchen features crisp white cabinetry, tiled backsplash, stainless steel appliances and gorgeous hardwood flooring throughout the kitchen and main living areas. With 4 bedrooms plus a spacious loft, this home offers plenty of room for friends and family to gather at the beach. Situated on a quiet street with no thru traffic, ride your bike to the

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Each year, the Town of Bethany beach invites amateur and professional photographers to submit photos for the town's annual photo contest.  The 2022 grand prize was awarded to Maryfrances Berger in recognition of her stunning "Running with the Gulls" photo.

To view all the winning photos, which will be featured in the 2022-2023 Town of Bethany Beach calendar, please click here.

 

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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 the Bethany-Fenwick market were down 19% when compared to the same time last year as inventory remains at record lows. Meanwhile, sales volume in dollars (based on list price) was up 7%.   Properties continued to sell very quickly. In fact, 43 of the 58 properties that went under contract this year did so within 10 days. The

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