COVID-19 Slowdown Continued, Some Increase in Activity in Sea Colony
April is typically bustling with real estate activity as motivated buyers prepare for the upcoming summer season. Understandably, 2020 brought a much different Spring market with stay-at-home orders, social distancing, and economic fluctuations.
In recent communications, we shared that there was a strong slowdown that started mid-March and as the chart illustrates, this continued through April. Some good news for the market is the fact that inventory remains low. During the 6 weeks reported on the graph, 6 new properties were listed for sale in Sea Colony versus 16 during the same period last year. Also, as we have moved into the beginning of May, activity is trending in a more positive direction. In fact, our group is currently negotiating several offers, one in Sea Colony West.
As our state takes interim steps to reopen, we are here for you! We have the resources to assist our clients virtually or with careful distancing to ensure all parties are comfortable while remaining safe and healthy. Please give us a call: 302-541-5207. Our Sea Colony experts Despina Kaneles and Gail Phelan are here to help!