This is the time of year when we calculate absorption rates in order to understand whether we are trending in the direction of a buyer’s or seller’s market at the beach. 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, both Sea Colony East and West both only had 1 month of inventory, but clearly the market had started to shift direction. We continue to stay well under a balanced market due to extremely deficient inventory and it remains an excellent time to be a Seller!
If you would like to discuss the market in more detail, please call our Sea Colony Specialists Gail Phelan (302) 233-4909 and Chris Housman (302) 853-0192.
Data was derived from the Sussex County MLS on July 1, 2023. Includes properties in Sea Colony East & West. It may not reflect all activity in the marketplace.
Leave A Comment