Found 4 blog entries tagged as market update.

We have enjoyed seeing so many of you enjoying your summer at Bear Trap Dunes over the last few weeks! During the month of May, just 1 property went under contract in Bear Trap. This compares to 1 at the same time last year and 2 in May of 2022. While the continuation of low inventory in Bear Trap has kept values elevate, there is vulnerability in the market.

If you have any questions about the market in general or any specific property, please call our Bear Trap Expert:

Gail Phelan (302) 233-4909

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We are happy to be seeing so many of you enjoying the first bit of summer at the beach during the last few weeks! During the month of May, 3 properties went under contract in the community of Bayside.   This compares to 4 properties at the same time last year, and 4 in May of 2022. There is some softening of values, particularly for single family homes where we have seen a notable rise in inventory (13 properties for sale vs. 6 at this time in 2023).

If you have any questions about the market or any specific property, please call our Bayside Experts:

Kiki Hargrove (302) 569-2959 
Wayne Lyons (302) 858-7347

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We are happy to be seeing so many of you enjoying the first bit of summer at the beach during the last few weeks! During the month of May, 5 units went under contract in Sea Colony. This compares to 3 units in the same month last year, and 7 units in May of 2022. There is some softening of values, particularly for condos on the East where we have seen a notable rise in inventory (16 properties for sale vs. 6 at this time in 2023).

If you have any questions about the market or a specific property, please call our Sea Colony Experts:

Gail Phelan (302) 233-4909 

Chris Housman (302) 853-0192

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Bethany-Fenwick Market Update
Hello Spring! Last month, we shared that after many years of deficient inventory, we began to see properties coming on the market more frequently. As we start the month of May, this trend continues as inventory in the Bethany-Fenwick market is up 58% when compared to the same time last year.

The beach real estate market remains firm. As the chart illustrates, sales activity is up 14% so far this year when compared to the first 4 months of 2023 and sales volume is up 19%.  Meanwhile, prices are stable.     

The busy Summer season is just around the corner, if we can offer you any real estate guidance, please don't hesitate to reach out!    

(302) 541-5207

*Data was derived from the Sussex County MLS. Includes properties in Bethany Beach, North…

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