As we head into what is typically an active selling season, this is a time 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 determine how many Months’ Supply of Inventory is for sale. Generally, a balanced market would have between 6 to 7 months of inventory. While we are trending towards a Buyer’s Market, at this time, Bear Trap Dunes has 4 months of inventory and it remains a Seller’s Market.
Even with a serious winter storm that left us under snow for many weeks, we experienced good activity during the first month of the year. In January, 6 properties went under contract in Bear Trap. This compares to 4 sales in January of last year. We continue to be optimistic about the year ahead and always welcome a conversation!
Leave A Comment