We are just one month into the year and so far, we are experiencing some slowing of buyer activity in Bayside. In January, 4 properties went under contract in your community compared to 6 sales during the same month last year.
During this time of the year, we like to calculate absorption rates to determine whether we are trending in the direction of a buyer’s or seller’s market. We compare the pace of sales over the previous 12 months to calculate how many Months Supply of Inventory is for sale. Generally, a balanced market would have between 6 to 7 months of inventory.
We remain in a Seller’s Market in Bayside. If you are looking for a Bayside single family, townhome or condo to call your own intime for the upcoming season, or if you have