Strong Market in Bayside Heading into Summer

Posted by Leslie Kopp & Christi Arndt on Monday, May 22nd, 2023 at 12:00pm

Happy Spring! As we look back on the first 4 months of the year, there was certainly some slowing in real estate re-sales in Bayside when compared to 2022. However, the good news for property owners is that there is currently a high level of activity ahead of the upcoming summer season.

As the chart illustrates, the median price is down some when compared to the same time period last year, but this is a reflection of the mix of property types sold versus the market a whole. In fact, the median sale price of single family homes in Bayside is up 14% year-over-year and condo/townhome properties are down a nominal 1%. While inventory is on the rise with 9 properties for sale, it is still far below pre-pandemic levels when it was common to have more than 40 properties available for sale in Bayside at any given time. During the month of April, we listed a number of properties that went under contract within just a few short days and the majority of these listings had multiple offers.

As always, if we can offer you any real estate guidance, please call our Bayside Experts, Wayne Lyons (302) 858-7347 and Kiki Hargrove (302) 569-2959.

*Data was derived from the Sussex County MLS. Includes resale (not new construction) properties in Bayside. May not reflect all activity in the marketplace.

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