Last month, we shared with you that real estate sales had been strong through the first 3 quarters of the year. This carried into October as 9 properties in Sea Colony went under contract last month. This is up 29% compared to 7 sales in October of 2023. As the graph illustrates, the median sale price for properties on both the East and West have risen in 2024.  During this time of Thanksgiving, we are grateful that so many of you look to our group for real estate guidance and expertise. We wish you all a healthy and very joyful holiday! If you are considering a purchase or a sale, it is never too early to have a conversation. Please reach out to our Sea Colony experts:

Gail Phelan                    Chris Housman
(302) 233-4909               (302)

Last month, we reported that the Sea Colony real estate market had picked up some in August. Unfortunately, that momentum was not as strong in September. During the month, 6 properties went under contract. This compares to 7 sales during the same month last year.

Through the first 3 quarters of the year as a whole, the market has been strong for sellers of all property types and locations in Sea Colony. While it is taking just a few days longer for properties to sell, the median sale price on both the East and West is up considerably.   If you would like to discuss the current environment in more detail, we always welcome a conversation.

Please call our Sea Colony Experts: Gail Phelan (302) 233-4909 and Chris Housman (302) 853-0192

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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. Both Sea Colony East and West continue to stay well under a balanced market due to good buyer activity. While inventory is growing (especially on the East), it remains a seller’s market.

If you would like to discuss the market in more detail as a buyer or a seller, please call our Sea Colony Specialists.

Gail Phelan