Shifting Market in Ocean View

We are often asked if we are in a Buyer’s Market or a Seller’s Market in Ocean View 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. While the condo/townhome market continues to stay in a Seller’s Market, inventory of single family homes is growing on the East and we are now in a Buyer’s Market.

If you would like to discuss the market in more detail, we are here to help. Please give us a call: 302-541-5207