During the first quarter of the year, we continued to experience a strong Seller’s market in the Bethany-Fenwick area as buyer demand remained high and we continued to navigate low inventory.
As the chart illustrates, total sales were down 41% when compared to last year while sales volume was down 48%. The chart shows some slowing in the pace of sales with the average days-to-contract at 42. However, there was a noticeable increase in the pace of sales during the month of March. Property values are up 2% when compared to last year as the median sale price to-date is $870K vs. $850K in 2022. The upcoming summer season is a strong motivating factor for buyers to be more aggressive this time of the year and multiple offers are once again more
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