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.
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