Each year, Rehoboth’s “Nation’s Summer Capital” nickname becomes increasingly fitting. Even and in some ways especially in fall, the beach is a relaxing, easy escape from the city. This year is no exception—even in the wake of COVID-19—and even with the cancellations of some of our most popular fall events. Not surprisingly, for the greater good, events including Sea Witch and the Rehoboth Beach Jazz Festival are off until 2021. While large-scale events are cancelled, the merchant sidewalk sales are still on in Rehoboth Beach and downtown Lewes for the first weekend of October.
These postponements have dealt a devastating blow to Coastal Delaware’s local economy. If you can still plan a getaway, our local restaurants are open, many with outdoor and socially distant seating. Local businesses continue to observe “COVID courtesies” (and our local rates of infection are staying low, with no current hospitalizations, according to Beebe Medical Center this week.) Unlike some hotter summer nights, crisp fall evenings are perfect for dining safely, al fresco, by a fire pit.
Of course, the beach itself and miles of bike trails are open to enjoy! Fall is the ideal time of year to bike, hike, kayak, paddle board on the bay, and sample local craft beer along the way. Farmer’s markets are still on and going strong in Rehoboth Beach on Tuesdays and in Lewes on Wednesdays at the Crooked Hammock and in-town on Saturdays. Get your seasonal pumpkins here in Sussex County!
While we love to take a “Chamber of Commerce” role and entice visitors to the beaches, our real area of expertise is real estate sales. To give you an idea of our primary market: As of the end of August, the number of single family homes sold was up nearly 26 percent over last year at this time. Moreover, the average sales price is up by 7 percent, and the median sales price is up by 12 percent.
While sales are up, available inventory on the market continues to decrease and is extremely low right now (by 11 percent over the previous month’s end total for the last two months.)
If you already own property at the beach, now is truly an unbelievable time to sell your home. Well-priced, well-located homes in Rehoboth and Lewes are selling extremely quickly and some with multiple offers. If you have been on the fence about buying, now is a great time for you, too, considering still-low interest rates and Delaware’s famously low property taxes.
This draw, along with the effects of a quarantine last spring, have definitely contributed to our busy market conditions. All of us have been charged to stay home more, and many of us have discovered that we can work from home/remotely relatively easily. This realization is another reason to consider where “home” really is. If you feel that it could be the beach, reach out to any of our local real estate professionals. We are more than happy to help you weigh your options.
At the very least, plan a visit this fall and enjoy a breath of fresh sea air!
The Lee Ann Wilkinson Group is the top-selling real estate team in Delaware and #3 nationally for Berkshire Hathaway HomeServices. For more information about real estate in Coastal Delaware, visit LeeAnnGroup.com, email LeeAnn@LeeAnnGroup.com, or call 302.645.6664.