As we look back at the first 3 quarters of 2023 compared to recent years, the South Bethany real estate market remained firm, even as interest rates rose to levels that we have not experienced in more than 20 years.
The continuation of inventory shortages coupled with pent up buyer demand has kept values stable. Last Fall, we experienced an uptick in inventory, but as the chart illustrates, that has not been the case so far this year. Inventory in South Bethany was down 36% on October 1 of 2023 when compared to the same day in 2022.
History tells us that real estate as a long term investment is very strong and the ability to have immediate use and enjoyment of a second home asset is something that we hear often from buyers, especially in
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