April 23, 2019

Top 7 Seller Tips

Jan. 31, 2019

State of the Market - 2017 vs 2018

Posted in Market Updates
Jan. 31, 2019

January 2019 - Luxury Market Report

Posted in Market Updates
Nov. 15, 2018

Market Update - November 2018

Although interest rates are increasing, demand continues to remain strong throughout the Bethany Beach market. However, it is interesting to note that the highest average sold price in peak year 2006 is still 18 percent above the 2018 average sold price.

We typically see activity decrease as we approach the holidays but inventory is currently low. This is helping to stabilize demand and increase values within specific areas and communities. Over the last 30 days, 27 single family homes have gone under contract versus 23 during the same time last year. Furthermore, new construction continues to remain strong. In fact, since mid-year over 50 percent of the 2,662 building permits issued statewide were in Sussex County. One of our hottest markets is new construction in the range of $600k to $1.5 million.

2018 Market Stats

Bethany Beach:
Average Days on Market, Sold: 124 (-31% vs 2017)
Total Units Sold: 134 (+14% vs 2017)
Sale Price to List Price Ratio: 97.3% (+1.2% vs 2017)

Rehoboth Beach:
Average Days on Market, Sold: 112 (-13% vs 2017)
Total Units Sold: 276 (+4% vs 2017)
Sale Price to List Price Ratio: 97.3% (+1.2% vs 2017)

Lewes:
Average Days on Market, Sold: 82 (-17% vs 2017)
Total Units Sold: 388 (-10% vs 2017)
Sale Price to List Price Ratio: 97.3% (+1.2% vs 2017)

Posted in Market Updates
Aug. 1, 2018

2018 Mid-Year Review

Summary & Comparative Analysis

Feb. 8, 2018

Market Update - February 2018

Comparative 2017 vs 2016 Statistics


Jan. 2, 2018

New Year Market Update

We hope your new year is off to a great start!

Since the beginning of the fall season, 32 single family homes went under contract in our market. This is up almost 8% from the same period last year. Additionally, after a slow start to the year for the condo/townhome market, 28 properties went under contract last month, up 11% from one year ago. Overall, comparative stats between 2016 and 2017 continue to show a strong real estate market with increased demand, homes selling faster and sale prices increasing.

We also continue to see significant gains within new home construction. There are currently over 200 new construction opportunities to consider throughout our markets. Our area is becoming more of a year-round destination as more retirees make Coastal Delaware their full-time residence. The winter market gives buyers an opportunity to experience coastal Delaware in the off season and builders are typically more creative with their incentives to entice buyers to purchase.

Flood insurance is a topic we deal with often here at the beach. This is an informative article 
recently published in the New York Times about the past and future of flood insurance: Article Link


Please do not hesitate to contact us if you have any questions.

Best,
Henry

Aug. 9, 2017

2017 Mid-Year Review

Posted in Market Updates
May 3, 2017

Spring 2017 Market Update - 1Q 2017 vs 1Q 2016

Spring 2017 Market Update

Posted in Market Updates
Feb. 2, 2017

Coastal DE Real Estate Market Update - Winter 2017