Market Conditions Remain Strong for Bayside Sellers in Q1
Posted by Leslie Kopp on
During the first quarter of the year, we continued to experience high buyer demand as we navigate historically low inventory .
As the chart illustrates, total sales were down 4% through the first quarter when compared to 2022 and sales volume was flat. The chart shows some slowing in the pace of sales as the average was 44 days-to-contract versus 15 days last year. The median sale price of single family homes in the first quarter was $1,300,000 vs. $910,000 in 2022 and for condo/townhome properties, $650,000 vs. $640,000.
If you are considering a sale or purchase, the experience and market knowledge of Wayne Lyons (302) 858-7347 and Kiki Hargrove (302) 569-2959 is unmatched. Please give them a call!
*Data was derived from the Sussex County…
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