Bear Trap Remains Seller’s Market
You might recall that this is the time of year when we like to share absorption rates with you. This statistic tells us whether we are trending in the direction of a buyer’s or seller’s market by comparing the pace of sales over the last year with inventory levels.
Generally speaking, 7 months of inventory or less is considered a seller’s market, more than 7 months is a buyer’s market. As the graph indicates, absorption rates have improved significantly for property owners for both single family homes and condo/townhomes over the last 3 years. We are clearly below the 7 month threshold for both property types in Bear Trap Dunes.
If you would like to discuss the market in more detail as it relates to your specific property, please call our Bear Trap Specialists:
Despina Kaneles (302) 236-2428 | Gail Phelan (302) 233-4909