Spring Market Firm in Bethany-Fenwick Area, Inventory on the Rise

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, please give us a call!    

 Leslie Kopp                          Christi Arndt
(302) 541-5207                    (302) 245-5223

*Data was derived from the Sussex County MLS. Includes properties in Bethany Beach, North Bethany, Fenwick Island and South Bethany. May not reflect all activity in the marketplace.