Bear Trap Dunes 2023 Real Estate Market Recap

Happy New Year!  We hope you and your family had a safe and healthy holiday season.  As we look back on the 2023 real estate market, you might recall that the first few months were much slower when compared to 2021 and 2022. Inventory shortages continued to play a role in the slow down and interest rates rose to their highest level in more than 20 years. There was some rise in activity later in the year and we are hopeful this positive momentum carries into 2024.  

In December, there was good news for the real estate market when the Federal Reserve held their key interest rate steady for the third time and suggested that there could be rate cuts in 2024. This news has us optimistic about the year ahead for real estate in Bear Trap Dunes.  If you have any questions, please call our Bear Trap Expert, Gail Phelan: (302) 233-4909.

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*Data was derived from the Sussex County MLS. Includes properties sold in Ocean View. May not reflect all activity in the marketplace.