Dive Into These Coastal Delaware Retreats
Home sales in Delaware are rising high, especially in beachfront communities. Up nearly 50% compared to the year before, the First State’s real estate market has never been hotter. Most resident’s homebuying decisions are being influenced by the pandemic, pushing households to re-assess their needs and evaluate whether their current home accommodates their post-COVID lifestyle. With remote work becoming the new norm, many people have realized that they can live at that home on the beach instead of merely visiting it. Ready for change and seeking fresh air, Delaware’s residents are heading for the coast.
Supply and Demand
Prices have risen significantly for homes in Delaware as increased competition clashes with low inventory to fuel the competitive market. Demand for homes is particularly high in Delaware’s coastal beaches,said Sharon Blair, the Director of Marketing and Communications at the Delaware Association of REALTORS®. Sales in Rehoboth Beach were up ~46% in 2020 compared with 2019, and Bethany Beach home sales rose by ~34% in 2020. The average home value in Bethany Beach is $649,378, so be prepared to drop some serious cash if you want a home on Delaware’s most popular coast.
Most Expensive Listings
If you’re shopping for your dream home or just Zillow surfing, take a peek at these luxurious beach homes adorning the Blue Hen State.
This oceanfront property is located on one of Delaware's most unique lots. With no dunes to obstruct ocean views, residents can walk directly out the front door and onto the private North Indian Beach. This oceanside retreat is currently in the final stages of a remodel that brings a brand-new shingle roof as well as new HardiePlank siding, built to handle anything Mother Nature throws at it.
- 6 bedrooms
- 6 bathroom
- Rooftop deck
- Boat storage
This oceanfront condo has four luxurious suites, each with its own bathroom. A large wrap-around balcony provides residents with breathtaking ocean views. Direct access to the water makes beach days a breeze, and this property even comes with an elevator, making it easy to transport beach equipment, groceries, and pets.
- 4 bedrooms
- 5 bathrooms
- Wrap-around balcony
This oceanfront home in Seabreak is one of a kind and hard to find. Details throughout the home highlight the planning and care that went into the design of this home. From outside, you can see the spiral staircase, and visitors are welcomed by its rich wood as they step inside. Windows adorn the property, illuminating the interior with natural lighting throughout the day.
- 6 bedrooms
- 7 bathrooms
- 3 balconies
- Direct beach access
Unlike any other listing, this oceanfront property has its own private beach with easy access. Located within a gated community, this beach bunker has plenty of space for the entire family — and then some. Residents can enjoy the ocean breeze either under the sun or covered in the main level balcony while enjoying breathtaking ocean views.
- 8 bedrooms
- 8 baths
- 0.39-scre plot
- Game room
Donning its own name, Sandaway, this oceanfront paradise is two homes located on the same lot. Call it a compound, with the main home boasting over 7,000 sq. ft. and the guest home just shy of 3,000 sq. ft. This home has a private walkway to the beach and provides unobstructed views of the ocean from anywhere in the property.
- 12 bedrooms
- 11 baths
- 0.79-acre plot
- Outdoor shower
Cash in on the Rising Tides of the Vacation Market
If you’re interested in getting into the vacation home market, consider pursuing NAR’s Resort and Second-Home Property Specialist Certification. It’s also important to know which locations are popular for investors right now so you can hone your marketing collateral and strategy appropriately:
- 34% purchased properties in a suburb or subdivision
- 33% purchased properties in a beach area
- 24% purchased properties in a small town
- 21% purchased properties on a lake
- 19% purchased properties in an urban area
- 15% purchased properties in a rural area
Selling a second home that may double as an investment requires a different skill set than selling a typical family home — primarily an in-depth knowledge of the tax implications that second homes carry. Additionally, clients looking to purchase a vacation home are more focused on the resale value, rental income, and taxes owed than they are on school zones and luxury kitchens, so be sure to research your local vacation market accordingly as you pursue the vacation home niche.
Spring Into 2021 With the Best Delaware Real Estate Courses From The CE Shop
Enroll in our Pre-Licensing program now to get your career started and begin connecting your fellow residents with the home of their dreams. Or keep going strong with one of our comprehensive, 100% online Continuing Education packages. Want to stay up to date on everything in Delaware? Join the Mid-Atlantic Real Estate Facebook Group!