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 to-date in North Bethany are relatively flat, down just 6% compared to 2021, but they are down 39% compared to 54 sales from January through August of 2020. The average sales price is up 23% as there have been 5 oceanfront settlements this year compared to 3 through August of last year. Properties are still selling quickly, with 8 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.