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Found 40 entries about South Bethany Real Estate Blog.

Bethany Fenwick Property Values

The summer season is upon us, and we have enjoyed seeing so many of you enjoying the area over the last few weeks! During the month of May, 20 properties went under contract in the Bethany-Fenwick area.  20 properties were also under contract at this time last year, and 21 in May of 2022. There is some softening of values, particularly in the single family home market. However, there are still plenty of buyers waiting for specific properties to be listed, especially those closest to the beach.

If you have any questions about the market in general or and specific property, please give us a call.

Leslie Kopp
(302) 541-5207        
Christi Arndt
(302) 245-5223               
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Bethany-Fenwick Market Update

Happy Spring! Last month, we shared with you that after many years of deficient inventory, we were starting to see properties coming on the market more frequently. As we start the month of May, this trend continues as inventory in the Bethany-Fenwick market is up 58% when compared to the same time last year.

The beach real estate market remains firm. As the chart illustrates, sales activity is up 14% so far this year when compared to the first 4 months of 2023 and sales volume is up 19%. Properties are taking a little longer to sell with 11 days as the median days-to-contract so far this year, vs. 9 days last year. Meanwhile, prices are stable.      

The busy Summer season is just around the corner, if we can offer you any real estate guidance,

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March has arrived and we are looking forward to longer light filled days ahead! Bear Trap has had a slow start to the year for real estate activity. While it is not the frenzy that we experienced in 2021 and 2022, to-date, sales are up considerably when compared to last year in other areas at the beach, but extremely low inventory has suppressed sales in your community.

As the chart illustrates, through the first two months, new contracts were down 33% compared to the same time last year. Properties that are priced appropriately continue to sell quickly and the median sale price of properties settled in January and February was up 26% when compared to the same months in 2023.

If you are considering buying or selling, please give our Bear Trap

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March has arrived and we are looking forward to longer light filled days ahead! The Bethany-Fenwick area had a good start to the year for real estate activity. While it is not the frenzy that we experienced in 2021 and 2022, to-date, sales are up considerably when compared to last year.

As the chart illustrates, through the first two months, new contracts were up 34% when compared to the same time last year. Inventory is slowly rising, but remains at historical lows. Sales volume in dollars (based on list price) was up 30%.   Properties that are priced appropriately continue to sell very quickly and the average sale price for properties settled in January and February was down 5% when compared to the same months in 2023. This is due to the fact

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We are just one month into the year and so far, we are experiencing good buyer activity at the beach! In January, 19 properties went under contract in the Bethany-Fenwick area. This is up nearly 30%, compared to 15 properties under contract during the same month last year, even as we continue to have deficient inventory in most areas.  

During this time of the year, we like to calculate absorption rates to determine whether we are trending in the direction of a buyer’s or seller’s market. We compare the pace of sales over the previous 12 months to calculate how many months supply of inventory is for sale. Generally, a balanced market would have between 6 to 7 months of inventory.  

As the chart illustrates, we remain in a Seller’s Market for

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Stay on top of trash, recycling, and yard waste pickup schedules in and around Bethany Beach. Access the schedules for Bethany Beach (zones 1 & 2), Fenwick Island, and South Bethany by clicking on the links below:


Bethany Beach Zone 1 Schedule                  Bethany Beach Zone 2 Schedule                 

Fenwick Island Schedule                                    South Bethany Schedule

 

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Credit to Katie Kazimir with Delaware Live

Army Corps updates beach replenishment timeline, sand totals | Cape Gazette
Cape Gazette

The Department of Natural Resources is developing counsel for local governments to aid in funding the cost for beach replenishment.   DNREC has stated that as erosion intensifies, the process of beach replenishment, which typically entails extracting sand from deeper offshore areas, may require more frequent repetition in order to restore beaches and safeguard infrastructure such as roads, bridges, and buildings.  Currently, costs are funded by both the state and federal government.  As of now Delaware allocates 1% of the state lodging tax towards replenishment projects. DNREC anticipates a budget of $4.1 million for the 2024 fiscal year, concluding on June 30th. This year, it is anticipated

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Happy New Year!  We hope you and your family had a safe and healthy holiday season.  As we look back on the 2023 beach real estate market, you might recall that the first few months were much slower when compared to 2021 and 2022. Inventory shortages continued to play a role in the slow down and interest rates rose to their highest level in more than 20 years. Sales picked up some in August and the positive momentum carried through the end of the year.  

In December, there was good news for the real estate market when the Federal Reserve held their key interest rate steady for the third time and suggested that there could be rate cuts in 2024. This news has us optimistic about the year ahead for South Bethany Real Estate!  If you have any

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As we look back at the first 3 quarters of 2023 compared to recent years, the Bear Trap real estate market slowed considerably. Even as interest rates rose to levels that we have not experienced in more than 20 years, the primary factor that contributed to the slowdown was the continuation of inventory shortages.

Last Fall, we experienced a slight uptick in inventory, but as the chart illustrates, that has not been the case so far this year. Inventory in Bear Trap was down 40% on October 1 of 2023 when compared to the same day in 2022.

History tells us that real estate as a long term investment is very strong and the ability to have immediate use and enjoyment of a home asset is something that we hear often from buyers, especially in today’s

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For well over a year, we have been reporting that monthly sales are down when compared to the same time period last year. This trend finally broke in August!   During the month, 28 properties went under contract vs. 24 in August of 2022. Meanwhile, inventory is still deficient with only 36 properties for sale versus 61 at this same time last year.

ethany-Fenwick Real Estate Market Update

As the chart illustrates, total sales in the Bethany-Fenwick market are down 27% year-to-date while the median sales price is up 10%. Properties tend to sell in just under 2 weeks with 12 days being the median amount of time to go under contract.

On a personal note, September is a special month for me. This month marks 34 years since starting a career in real estate at the beach. I am extremely

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