Bear Trap Real Estate: Buyer's or Seller's Market

Posted by Leslie Kopp & Christi Arndt on Tuesday, February 6th, 2024 at 8:05am

We are just one month into the year and so far, we are experiencing good buyer activity in Ocean View and Bear Trap Dunes! In January, 27 properties went under contract in Ocean View, up from 24 sales during the same month last year. In your community of Bear Trap, there were 4 sales, up from 3 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 for Bear Trap Dunes and Ocean View Real Estate. If you are looking for a Bear Trap single family, townhome or condo to call your own in time for the upcoming golf season, or if you have been contemplating a real estate sale, we are here to help.

Please call our Bear Trap Dunes Expert: Gail Phelan (302) 233-4909.  

*Data was derived from the Sussex County MLS. Includes properties sold in Bear Trap and Ocean View, DE. Does not include New Construction.  May not reflect all activity in the marketplace.

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