Happy New Year!  We hope you and your family had a safe and healthy holiday season. As we look back on an incredible year for beach real estate, you might recall that 2020 started strong in early months and slowed with the onset of COVID-19 in March and April.  The market came back in May and the positive momentum carried through the year.

Importantly, there has been a sharp decline in available inventory which is down a significant 79%, year-over-year!  There are currently 31 properties for sale in Ocean View versus 145 at this time last year. We are extremely grateful for your continued loyalty and wish you and yours a happy, healthy, and prosperous 2021! 

For many months, we have shared with you that the real estate market is “hot” at the beach and as the graph illustrates, both single family homes and condo/townhome properties are appreciating in value.  We expect the continuation of high buyer demand and extremely low inventory which will put upward pressure on prices well into 2021.  If you are considering a sale or looking to purchase a new home at the beach, please strategize with us to ensure the very best results in this market!

During this time of Thanksgiving, we are grateful to you for your continued trust and would like to wish you and your loved ones a safe, healthy and joyful holiday!

Data was derived from the Sussex County MLS. Includes properties sold in Fenwick Island, South

 Last month, we shared our prediction that the Fall real estate market would be like never before, following a record-breaking summer season. This statement has proven to be true.

In the Bethany-Fenwick area, September sales more than doubled when compared to the same month last year as 82 properties were put under contract.  This was the single highest amount of sales in any month on record for our MLS (which goes back to 2005).  Importantly, there has been no slow down as we are well into October and as the chart illustrates, this trend has continued.

As we have stated in the past, it is hard to predict how long this will last, but it remains an opportune time to list or sell your property!

Data was derived from the Sussex County MLS.

Warm sunny days and cool nights make September and October our favorite months at the beach. We hope that you are enjoying this special time of the year!

On a typical Labor Day afternoon, the beaches thin out and our roads quiet. That was not the case this year. Following a summer that set records, we could see a Fall real estate market like never before. It is more common than ever for us to see multiple offers on properties shortly after they are listed for sale and buyers are often waiving contingencies such as financing and home inspections to be competitive.

Now is an opportune time to list your property for sale or begin your search for a new beach home. Please give us a call.

Last month, we shared that we were in a strong seller’s market at the beach with increasing real estate sales and declining inventory. This trend continued in July as 47 properties went under contract in Bethany Beach versus 29 during the same month last year. Inventory continues to fall as there were just 28 new listings added in July.

Year-to-date, sales are up 26% in Bethany Beach. There is no question that this increase would be much higher if there were more properties available for sale. As the chart illustrates, there is about one third of the inventory available when compared to last year (43 properties versus 131).

So far this year, our group has had the fortunate opportunity to participate in 35% of homes sold in the Bethany-Fenwick

A few weeks ago, we reported that during May of 2020, 55 properties (single family & condo/townhomes) went under contract in the Bethany-Fenwick area. This was the highest number of sales ever recorded for one month in our current multiple list system which goes back to 2005. New contracts in June were nearly 50% higher at 81! With this in mind, we are understandably in a strong seller’s market at the beach.

Twice a year, we calculate and share absorption rates with you. This statistic tells us if we are trending in the direction of a buyer’s or seller’s market by comparing the pace of sales over the last 12 months with inventory levels. Generally speaking, 7 months of inventory or less is considered a seller’s market, more than 7 months is a

Last month, we reported to you that after a 6-week slowdown due to COVID-19,  activity was trending in a more positive direction and our group was negotiating several offers in early May.  We are pleased to report that the pace of sales has continued to accelerate!

During May of 2020, more properties went under contract in the Bethany-Fenwick area in a single month than any other month recorded in our current multiple list system (which goes back to 2005).  As the chart illustrates, a total of 55 properties were put under contract as both single family and condo/townhome sales far
exceeded 2019.  There has been no slowdown with 21 additional sales in the first week of June alone.

Year-to-date, the market is

The Town of Bethany Beach held a Town Council meeting yesterday, April 30, 2020.  During this meeting, council members voted that the beach and boardwalk would remain closed at least through May 31, 2020 and all special events would be cancelled until July 15th, including the 4th of July parade and fireworks.

We feel for the businesses, homeowners and visitors that are impacted greatly by these restrictions, but we recognize that our town officials are required to abide by the Governor’s orders and must follow the CDC Guidelines to keep our community safe and healthy.  Below is a summary of the items that were implemented:

1) The beach and boardwalk will remain closed to the public through May 31, 2020 or when the Governor moves the State into the

First and foremost, we hope you and your loved ones are safe and healthy as together, we navigate the COVID-19 epidemic.  Two weeks ago, we promised to maintain our communication and share facts about what we are experiencing at the beach.

On March 15th, sales were up a significant 93% for the month as 27 properties had been put under contract in the Bethany-Fenwick area.  Of those 27 contracts, 7 have cancelled. As the chart illustrates, in the last 2 weeks of the month, sales were down 53%.  Nine properties went under contract compared to 19 during the same time last year.  Activity has certainly slowed, but our group continues to write and receive offers.  We feel fortunate to have the