Spring Market Firm in Bear Trap, Inventory Rising Heading into Summer

Happy Spring! As we look back on the first 4 months of the year, there was some slowing in Ocean View real estate as well as Bear Trap Dunes when compared to 2024.

As the chart illustrates, the number of properties sold in Bear Trap through April was down 17% and sales volume was down 2%. The median sale price is up 5% when compared to the same time period last year, and some additional good news is that most properties that sold went under contract in 1 week.   Inventory has risen 267% in Bear Trap with 11 properties for sale. In the greater Ocean View market, inventory is up 40% with 116 properties for sale as of May 1. It is important to note that we are still far below pre-pandemic levels when it was common to have more than 200 properties available for sale in Ocean View.

If we can offer you any real estate guidance as a buyer or seller of real estate in Bear Trap Dunes or Ocean View, please call Gail Phelan (302) 233-4909