For a number of months, we have been reporting that sales are down when compared to the same month last year and while August sales were down again in Bear Trap (4 vs. 7), this trend broke for Ocean View as well as the surrounding beach markets as a whole. During the month of August, 25 properties went under contract in Ocean View vs. 20 in 2022. Meanwhile, inventory remained stable. We don’t know how long this little flurry of activity will last, but it feels as though buyers are motivated to move on the right property.
As the chart illustrates, total sales year-to-date in Bear Trap Dunes are down 34% while the median salesprice is down 7%. Properties tend to sell in just under a month with 24 days being the median amount of time to go