- 5 Beds
- 3 Full Baths
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Looking back on the 2023 beach real estate market, you might recall that the first few months were much slower when compared to 2021 and 2022. Inventory shortages continued to play a role in the slow down and interest rates rose to their highest level in more than 20 years. Sales in South Bethany picked up some in August and the positive momentum carried through the end of the year. In December, there was good news for the real estate market when the Federal Reserve held their key interest rate steady for the third time and suggested that there could be rate cuts in 2024. This news, coupled with the fact that values for beach real estate remain at historically high levels, has us optimistic about the year ahead for property owners. It could be the opportune time to capitalize on a sale. In 2023, we were fortunate to participate in 45% of sales in South Bethany, representing the buyer, seller or both parties. Properties listed with our group sold faster (19 average days-to-contract vs. 38) and our sellers received a higher sale-to-list price when compared to the rest of the market.
Please contact our office for assistance in South Bethany sales and purchases: (302) 541-5207