For most of the year, we have communicated that resales have slowed some in Bayside when compared to the same time period last year and this trend continued in August with 5 sales versus 7 during the same month in 2022.
As the chart illustrates, sales in Bayside are down 11% year-to-date while the continuation of limited inventory has kept the median sales price stable. Properties tend to sell in just under 3 weeks with 20 days being the median amount of time to go under contract. There is no question that sales would be much higher if there was more inventory and we would classify the market as firm.
On a personal note, September is a special month for me. This month marks 34 years since starting a career in real estate at the beach. I am
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