As we look back at the first 3 quarters of 2023 compared to recent years, the Bear Trap real estate market slowed considerably. Even as interest rates rose to levels that we have not experienced in more than 20 years, the primary factor that contributed to the slowdown was the continuation of inventory shortages.

Last Fall, we experienced a slight uptick in inventory, but as the chart illustrates, that has not been the case so far this year. Inventory in Bear Trap was down 40% 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 home asset is something that we hear often from buyers, especially in today’s

For well over a year, we have been reporting that monthly sales are down when compared to the same time period last year. This trend finally broke in August!   During the month, 28 properties went under contract vs. 24 in August of 2022. Meanwhile, inventory is still deficient with only 36 properties for sale versus 61 at this same time last year.

As the chart illustrates, total sales in the Bethany-Fenwick market are down 27% year-to-date while the median sales price is up 10%. Properties tend to sell in just under 2 weeks with 12 days being the median amount of time to go under contract.

On a personal note, September is a special month for me. This month marks 34 years since starting a career in real estate at the beach. I am extremely

It is hard to believe that Labor Day weekend is right around the corner, we hope you are having a wonderful summer! While total real estate sales are down 22% year-to-date in South Bethany, the market remains very strong.  It has been more than a year since the “buyer frenzy” we experienced in 2020 through early 2022.   So far this year, our group has participated in 40% of property sales in the 19930 zip code.    If we can offer you any real estate guidance, please give us a call.

Leslie Kopp                                 Christi Arndt   
(302) 542-3917                            (302) 245-5223              

*Real estate sales data was derived from the Sussex County MLS.

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, more would be a buyer’s market and less a seller’s market. At this time last year, all areas were still in a seller’s market, but clearly the market had started to shift. We continue to stay just under a balanced market due to limited inventory and it remains an excellent time to be a Seller!      

If you would like to discuss the market in more detail as it relates to your property, please give us a

Happy Spring! As we look back on the first 4 months of the year, there was some slowing in sales in South Bethany when compared to 2022. However, the good news is that there is currently a high level of activity ahead of the upcoming summer season.

As the chart illustrates, values are up when compared to the same time period last year and while inventory has risen slightly with 5 properties for sale, it is still far below pre-pandemic levels when it was common to have approximately 20 properties available for sale in South Bethany. During the month of April, we listed a number of properties that went under contract within just a few short days and the majority of these listing had multiple offers.

As always, if we can offer you any real estate

April is typically bustling with real estate activity ahead of the upcoming summer season, and this year has been no different!   So far this month, 20 properties have gone under contract in the Bethany-Fenwick area and nearly half of these properties went under contract in less than one week.
We are starting to see more opportunities with 39 listings currently for sale versus just 18 at this same time last year.  Below are a few very special properties that were recently listed for sale…. just in time for you to enjoy this summer at the beach!           

Please browse new listings below and give us a call to discuss these offerings or any others for sale: (302) 541-5207!

*Data was derived from the Sussex County MLS. Includes properties put

During the first quarter of the year, we continued to experience a strong Seller’s market in the Bethany-Fenwick area as buyer demand remained high and we continued to navigate low inventory. 

As the chart illustrates, total sales were down 41% when compared to last year while sales volume was down 48%. The chart shows some slowing in the pace of sales with the average days-to-contract at 42.  However, there was a noticeable increase in the pace of sales during the month of March. Property values are up 2% when compared to last year as the median sale price to-date is $870K vs. $850K in 2022. The upcoming summer season is a strong motivating factor for buyers to be more aggressive this time of the year and multiple offers are once again more

We are well into the month of March and it is hard to believe that we will soon welcome the first day of Spring! Light traffic and sun-filled days make it a beautiful time of the year to visit the beach.  

During the first 10 weeks of the year, we continued to experience a competitive market as buyer demand has remained high and we are still navigating low inventory. As the chart illustrates, total sales are down 40% when compared to last year while sales volume is down 42%. Property values have remained stable when compared to 2022 as the median price to-date is $865K vs. $850K in 2022.  

If you would like assistance finding a new beach home in time for this summer or listing your property for sale, we are here to help. Please give us a call

As we head into what is typically a strong selling season for beach property, this is a time we like to calculate absorption rates to determine whether we are trending in the direction of a buyer’s or seller’s market. 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 between 6 to 7 months of inventory. At this time, all areas have 2 months of inventory or less. We are clearly still in a strong seller’s market due to inventory shortages, but as the chart illustrates, the trend has changed direction when compared to the same time last year.

This shift is a good representation of what we are currently experiencing in the marketplace. There is

Happy New Year! As we reflect on 2022, you might recall that the surge in real estate activity 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 second half of the year. However, rising interest rates coupled with the continuation of extremely low inventory contributed to a slowdown in both sales and appreciation later in 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!

In 2022, we were fortunate to participate in 41% of sales in South Bethany, representing the buyer, seller or both parties. If you are considering a sale or looking to