Slower Start at the Beach, Market Firm in Bethany-Fenwick Market
One year ago, we reported to you that the Bethany-Fenwick Market had experienced the strongest start to the year in more than a decade. So far in 2019, the market has not been able to keep pace with an exceptional 2018. However, it is important to note that over-all conditions are comparable to 2016 and 2017, and as strong as they have been since 2006.
As the chart illustrates, the pace (average number of days on market) is equal to 2018, but most other key market statistics are down compared to first two months of last year. It’s too early to tell, but the late Easter holiday coupled with the cold and wet weather this winter might be factors contributing to slower activity this year. It feels to us that there is pent up buyer demand and we could be positioned for a nice market correction in the coming months. We will monitor that closely.
Our group has noticed a distinct increase in activity over the last couple of weeks and it is an opportune time of the year to buy and sell. If you are considering a sale or looking to buy, please give us a call to strategize about how to maximize your results in 2019.
Leslie Kopp & Christi Arndt