Bear Trap Dunes Off To A Slower Start In 2019
After two years of high sales volume in Bear Trap Dunes, the over-all beach market remains strong while the total number of properties sold so far in 2019 is down considerably in your community when compared to last year.
This is not all bad news for property owners. The number of listings for sale has been declining for the last year and in early March, inventory was down a significant 40% year-over-year. This is good news for existing homeowners as limited supply will put upward pressure on prices if all other market conditions remain constant. As the chart also illustrates, the pace of sales is still quick when compared to 2018, but most other key market statistics are down.
It’s a little early to tell, but the late Easter holiday coupled with the cold and wet weather this winter might be additional factors contributing to slower activity. We could be positioned for a nice market correction in the coming months, and our group has noticed a distinct increase in buyer activity over the last couple of weeks. It is an opportune time of the year to list property or make a new purchase. If you are considering selling or buying, please call our Bear Trap experts
Gail Phelan 302-233-4909 and Despina Kaneles 302-236-2428 to strategize about how to maximize your results in these current market conditions.
Leslie Kopp & Christi Arndt