Improvement marked for July and August.  For the first time in awhile, we have had more sales than listings.  I am hopeful that it will continue.  Due to arms and commerical loans coming to fruition, the market will  likely show unstable. 

I wrote four offers on different properties that were not accepted.  I am encourgaged that folks are taking a leap but the offers are too low on some already reduce pricing.  Unless sellers need to sell the market will lag.

Good news!  The new listing inventory is down.  The under contract properties are up from last year.  More good news.  The absorption rate has decreased.  Great news.  If this trend continues, we may see the market start to stabilize.  That would be great news. With the interest rate low, what a great time to get a piece of the beach!

Our market is mostly second homes.  Our absorption rate  for May is 21.4 months.  We had 4 homes sold in Bethany Beach for the month of May.  The lowest sale was $425k and the highest $1,490,000. Compared to last year this time, inventory and sales have decreased.  We are still in a down market.  Fooey.  On a good note, the beach and the weather has been wonderful. 

 

I can't believe I live at the beach!  Yesterday, I wanted to pinch myself to see if I really was watching the surf and my husband fish.  He had such a smile on his face as he brought in fish after fish.  The fisherman to his left was doing better than him but he didn't care.  This was a record for him.  Seven fish, one got away, in a 3 hour time span. The weather was perfect.  Here is a secret I'll let you in on...the beach is lovely in September.