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Found 8 blog entries tagged as Fenwick Island.

Light traffic, cooler temperatures, and warm ocean breezes make September our favorite time of the year to live at the beach. This is also a special month for me, personally, as it marks 35 years since starting my career in real estate at the beach. I am extremely grateful to have earned the trust of so many of you over the years and together with Christi Arndt and the group, we will continue to offer the highest level of guidance and expertise in real estate well into the future!

After a flurry of activity in July, the beach real estate market slowed some in August when compared to the last year. During the month, 22 properties went under contract in the Bethany-Fenwick area. This compares to 28 during the same month last year. As the chart

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Fenwick Island Real Estate Market Update

While real estate activity in Fenwick Island was relatively flat this Spring when compared to last year, we experienced a nice flurry of activity in June and July. During those 2 months, 10 properties went under contract in Fenwick Island (versus 4 during the same time last year).

As the chart illustrates, both the number of sales and sales volume in dollars are up year-to-date. Inventory has increased 300% when compared to the same time last year, creating more competition for sellers. Meanwhile, properties are taking a little more time to go under contract.

So far this year, our group has participated in more than 30% of property sales in the Bethany-Fenwick area. If we can offer you any real estate guidance, please give us a call.

Leslie

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Credit to: Coastal Point • Kerin Magill

Report after report cite the inevitability of climate change impacts to the coastal area, but in Fenwick Island last week, residents gathered with experts to hear that they can, in fact, make a difference.

Representatives of local environmental groups, state agencies and other organizations gathered at Fenwick Island Town Hall on Thursday, July 25, for “Fenwick Nurtures Nature: Dark Sky & Green Infrastructure Education Symposium.”

Organized by Fenwick Island’s Residential Concerns Committee, the event featured informational displays and discussions with representatives of groups including the Delaware Center for the Inland Bays, the Delaware Urban & Community Forestry Program, Delaware Botanic Gardens,

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bethany-fenwick market update image

This is the time of year when we calculate absorption rates in order to understand whether we are trending in the direction of a buyer’s or seller’s market at the beach. We compare the pace of sales over the previous 12 months to determine how many Months Supply of Inventory is for sale.

Generally, a balanced market would have 7 months of inventory while more would be a buyer’s market and less a seller’s market. The market is clearly shifting as all areas moved in a favorable direction for buyers. We continue to stay in a seller’s market from North Bethany to South Bethany, but growing inventory in Fenwick Island has shifted that area into a buyer’s market.        

If you would like to discuss the market in more detail as a buyer or a seller,

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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! 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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As we head into what is typically a strong selling season for beach property, this is a time 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 determine how many Months Supply of Inventory is for sale. Generally, a balanced market would have between 6 to 7 months of inventory. At this time, all areas have 2 months of inventory or less. We are clearly still in a strong seller’s market in Fenwick Island due to inventory shortages, but as the chart illustrates, the trend is starting to change direction in most areas at the beach when compared to the same time last year.

This shift is a good representation of what we

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