How’s The Real Estate Market in Bethany Beach, DE?
March 2022
It’s still a seller’s market here in Bethany Beach, DE with inventory remaining quite low but buyer demand at an all-time high. As of today, there are only 24 active listings in Bethany Beach, North Bethany, and South Bethany, including condos, townhomes, and single-family homes, with prices ranging from $469,000 to $2,750,000. There are currently 41 properties under contract, with prices ranging from $404,000 to $4,750,000. In the month of March, 26 properties sold, with prices ranging from $380,000 to $6,200,000 and averaging $1,354,000. The average days on market for March was 20 days, but of those 67 properties to have sold or gone under contract, 39 of them went under contract in 7 days or less (some as few as 1 day on market!). The average sale price to list price ratio was 102.42 percent, with 221 of the 26 sales selling for the list price or higher.
What do these stats mean for you? If you’re considering selling your property here in Bethany Beach, now is the time to capitalize on the market. The market is primed for sellers right now, with buyer demand very high, inventory remaining very low, and the spring season has buyers chomping at the bit to find their beach property before the summer season starts. Prices continue to increase for properties, and even with this increase, sellers are receiving multiple offers on their properties within days of listing. There’s no guarantee that the market will stay so strongly in the seller’s favor, so if you are thinking about selling and don’t want to miss out on a fantastic opportunity, now is the time to sell your beach home.
If you’re a buyer in this market, these stats show that it’s a competitive market, and you need a strong real estate advisor to guide you through the process, position you to win the bid, and alert you of opportunities before they even hit the market.
Whether you’re planning to sell or buy here in Bethany Beach Delaware, contact our team to put together the best plan for you.
Rhonda Frick – (302) 236-1456 – Rhonda@RhondaFrick.com