- 3 Beds
- 2 Full Baths
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The surge in Sea Colony real estate activity that we felt in 2020 and 2021 carried into the first quarter of 2022 and then slowed in the second quarter. There was moderate activity in the third and fourth quarters of the year. While there is still plenty of uncertainty about what the state of the economy means for real estate in the short term, we are enthusiastic about the year ahead! Real estate has been and will continue to be an attractive asset with proven appreciation over time, tax advantages and a source of cash flow. Importantly, real estate in a second home and investment community like Sea Colony is a tangible asset that offers immediate enjoyment.
During 2022, the highest sale price in Sea Colony settled for $1,800,000. The lowest priced sale in Sea Colony settled for $310,000 which is up 35% over the highest sale in 2021 at $229,000. The median sale price in Sea Colony East rose 14% in 2022 to $884,000. The median sale price in Sea Colony West rose 20% to $545,000. With regard to inventory available for sale, at year's end, there were 6 properties for sale in Sea Colony (both Sea Colony East and Sea Colony West). This is down 79% when compared to the end of 2019, prior to the COVID-19 pandemic. We believe this environment of limited inventory in Sea Colony and the surrounding Delaware beach areas will keep prices stabilized in 2023. Please reach out to discuss your real estate goals as either a buyer or a seller of Sea Colony real estate, our Sea Colony Specialists Gail Phelan (302) 233-4909 and Chris Housman (302) 853-0192 are here to help! In 2022, we were fortunate to participate in more than 30% of sales in Sea Colony.