Continuation of Seller’s Market in Ocean View

This is the time of year when we like to calculate absorption rates in order to understand 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 7 months of inventory, more would be a buyer’s market and less a seller’s market. At this time last year, there was less than 2 months of inventory for both Single Family homes and Condo/Townhomes, but clearly the market was starting to shift direction. We continue to stay well under a balanced market due to extremely deficient inventory. 

If you would like to discuss the market in more detail, please give us a call: (302) 541-5207.