Bayside Real Estate: Buyer's or Seller's Market

Posted by Leslie Kopp & Christi Arndt on Tuesday, February 6th, 2024 at 9:14am

We are just one month into the year and so far, we are experiencing some slowing of buyer activity in Bayside. In January, 4 properties went under contract in your community compared to 6 sales during the same month last year.

During this time of the year, we like to calculate absorption rates to determine whether we are trending in the direction of a buyer’s or seller’s market. We compare the pace of sales over the previous 12 months to calculate how many Months Supply of Inventory is for sale. Generally, a balanced market would have between 6 to 7 months of inventory.  

We remain in a Seller’s Market in Bayside.   If you are looking for a Bayside single family, townhome or condo to call your own intime for the upcoming season, or if you have been contemplating a real estate sale, we are here to help.

Please call our Bayside Experts: Wayne Lyons (302) 858-7347 and Kiki Hargrove (302) 569-2959.

*Data was derived from the Sussex County MLS. Includes properties sold in Bayside. Does not include New Construction.  May not reflect all activity in the marketplace.

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