Shifting Market in Bayside

We are often asked if we are in a Buyer’s Market or a Seller’s Market in Bayside and this is the time of year when we calculate absorption rates in order to answer that question and understand how the market is trending. We compare the pace of sales over the previous 12 months to determine how many Months Supply of Inventory is for sale.

Generally, a balanced market would have 7 months of inventory while more would be a Buyer’s market and less a Seller’s market. The single family market continues to stay in a Seller’s Market with 10 properties for sale and 43 home sold in the last 12 months. Meanwhile inventory of condo/townhomes is growing (17 for sale and 21 sold in the last 12 months). We are now certainly in a Buyer’s Market for that property type in Bayside.

If you would like to discuss the market in more detail, we are here to help. Please call our Bayside Specialists:

Wayne Lyons                  Kiki Cebula Hargrove 
(302) 858-7347              (302) 569-2959