Happy New Year! As we reflect on 2022, you might recall that the surge in real estate activity we felt in 2020 and 2021 carried into the first quarter of 2022 and then slowed in the second quarter. There was moderate activity in the second half of the year. However, rising interest rates coupled with the continuation of low inventory contributed to a slowdown in both sales and appreciation later in the year. While there is still plenty of uncertainty about what the state of the economy means for real estate in the short term, we are enthusiastic about the year ahead! Inventory remains at historically low levels which means that it is still an opportune time to capitalize as a seller.
In 2022, we were fortunate to participate in more than 30% of sales in Sea Colony, representing the buyer, seller or both parties. If we can be of assistance, please call Gail Phelan (302) 233-4909 or Chris Housman (302) 853-0192.
Thank you for your continued trust, we wish you a happy, healthy, and prosperous 2023!
*Data was derived from the Sussex County MLS. Includes properties sold in Sea Colony. May not reflect all activity in the marketplace.