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. As the chart illustrates, sales in Bethany Beach are down 29% to-date while the continuation of limited inventory has kept the median sales price up 10%. Properties are still selling quickly, with 6 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 trust of so many of you over the years and together with Christi and the group, we are all here to offer you guidance as we navigate through another changing market. As always, please give us a call if we can be of assistance.