Ocean View Slower Start To 2019
After two years of exceptional sales volume in Ocean View, the market remains strong, but the total number of homes sold so far in 2019 is down compared to last year. The number of new construction homes available in Ocean View has been declining. This is good news for existing homeowners as limited supply will eventually put upward
pressure on prices if all other market conditions remain constant.
As the chart illustrates, most key market statistics are down during the first two months of this year. It’s a little early to tell, but the late Easter holiday coupled with unusually cold and wet weather this winter might be factors contributing to the slower activity. We could be positioned for a nice market correction in the coming months, and we will monitor that closely. In fact, our group has noticed a distinct increase in activity over the last couple of weeks.
It is an opportune time of the year to list property or make a new purchsae. If you are considering a sale or looking to purchase property in 2019, please give us a call to strategize about how to maximize your results in the current market conditions: 302-541-5207.
Leslie Kopp & Christi Arndt