August Sales Higher in Sea Colony

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 personal note, September is a special month for me. This month marks 34 years since starting a career in real estate at the beach. I am extremely grateful to have earned the trust of so many of you over the years and together with Christi Arndt, Gail Phelan, Chris Housman, and the group, we look forward to continuing to offer you a high level of guidance and expertise in real estate well into the future!

As always, please call our Sea Colony Experts, Gail Phelan (302) 233-4909 or Chris Housman (302) 853-0192 if you are considering a sale or need guidance in this market.

*Data was derived from the Sussex County MLS. Includes properties sold in Sea Colony. May not reflect all activity in the market.