Market Conditions Remain Strong for Ocean View Sellers in Q1

During the first quarter of the year, we continued to experience high buyer demand as we navigate historically low inventory.

As the chart illustrates, total sales are down 30% when compared to last year while sales volume is down 26%. The chart shows some slowing in the pace of sales with the average days-to-contract at about 2 months, however, there was a noticeable increase in the pace of sales during the month of March. Property values were up 4% through the first quarter when compared to last year with the median sale price at $533K vs. $509K in 2022.

If you are considering a sale or purchase, our experience and market knowledge is unmatched. Please give us a call (302) 541-5207.

*Data was derived from the Sussex County MLS. Includes properties sold in Ocean View.   May not reflect all activity in the marketplace.