For much of 2017, we communicated to you that sales activity was strong while inventory was shrinking in Bear Trap, so it was no surprise to see that our January absorption rates show a trend to a seller’s market.
Absorption rates tell us how many months it will take to sell all existing homes for sale at the current pace of sales. Generally speaking, 7 months of inventory is a neutral market, more is a buyer’s market, less is a seller’s market. Absorption rates are as low as we have seen in many years for both single family homes and for condo/townhomes at Bear Trap.
If we can be of assistance buying or selling real estate in Bear Trap, please call our Bear Trap experts:
Gail Phelan (302) 233-4909 & Despina Kaneles (302) 236-2428.