March has arrived and we are looking forward to longer light filled days ahead! Sea Colony has had a good start to the year for real estate activity. While it is not the frenzy that we experienced in 2021 and 2022, to-date, sales are up considerably when compared to last year.
As the chart illustrates, through the first two months, new contracts doubled when compared to the same time last year. Inventory is slowly rising, but remains at historical lows. Sales volume in dollars (based on list price) was up 117%. Properties that are priced appropriately continue to sell very quickly and the median sale price of properties settled in January and February was up 4% when compared to the same months in 2023.
If you are considering buying or selling, please give us a call to discuss ways that we can work together to achieve your goals!
Gail Phelan Chris Housman
(302) 233-4909 (302) 853-0192
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