For many months, we have been reporting that sales are down when compared to the same time period last year. This trend finally broke in August! During the month, 10 properties went under contract in Sea Colony vs. 8 in August of 2022. Meanwhile, inventory is still deficient with only 8 properties for sale, the same as last year.
As the chart illustrates, total sales in Sea Colony market are down year-to-date for both the East and West while the median salesprice is up 5% and 8%, respectively. Properties tend to sell in just under 2 weeks with 12 days being the median amount of time to go under contract. We don’t know how long this flurry of activity will last, but it feels as though buyers are motivated to move on the right property.
On a
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