Twice a year, we calculate and share absorption rates with you and hope that it puts the current market into perspective when compared to recent years. There is no question that we are currently in the strongest seller’s market on record.
Absorption rates tell us if we are trending in the direction of a buyer’s or seller’s market by comparing the pace of sales over the last 12 months with inventory levels. A balanced market would have 7 months of inventory, more would be a buyer’s market and less a seller’s market. All areas currently have only 1 month of inventory for sale!
If you are considering a sale or looking to purchase, please give us a call.
*Data was derived from the Sussex County MLS. Includes contracts on properties in Bethany Beach, North Bethany, South Bethany & Fenwick Island. It may not reflect all activity in the marketplace.