The summer season is upon us, and we have enjoyed seeing so many of you enjoying Bear Trap Dunes over the last few weeks! During the month of May, just 1 property went under contract in Bear Trap. This compares to 1 at the same time last year and 2 in May of 2022. While there is vulnerability in the market, the continuation of low inventory in Bear Trap has kept values elevated (currently there are no properties for sale in the community).
The summer season is upon us, and we have enjoyed seeing so many of you enjoying the area over the last few weeks! During the month of May, 3 properties went under contract in the community of Bayside. This compares to 4 properties at the same time last year, and 4 in May of 2022. There is some softening of values, particularly for single family homes where we have seen a notable rise in inventory (13 properties for sale vs. 6 at this time in 2023). However, there is still a plethora of buyers waiting for specific properties to be listed for sale, especially condos/townhomes where there are now 2 properties for sale, vs. 4 at this time last year.
The summer season is upon us, and we have enjoyed seeing so many of you enjoying the area over the last few weeks! During the month of May, 5 units went under contract in Sea Colony. This compares to 3 units at the same time last year, and 7 units in May of 2022. There is some softening of values, particularly for condos on the East where we have seen a notable rise in inventory (16 properties for sale vs. 6 at this time in 2023). However, there are still plenty of buyers waiting for specific properties to be offered for sale, especially on the West where there are now 4 properties for sale vs. 5 at this time last year.
The summer season is upon us, and we have enjoyed seeing so many of you enjoying the area over the last few weeks! During the month of May, 20 properties went under contract in the Bethany-Fenwick area. 20 properties were also under contract at this time last year, and 21 in May of 2022. There is some softening of values, particularly in the single family home market. However, there are still plenty of buyers waiting for specific properties to be listed, especially those closest to the beach.
Happy Spring! Last month, we shared with you that after many years of deficient inventory, we were starting to see properties coming on the market more frequently. As we start the month of May, this trend continues as inventory in Sea Colony has more than doubled when compared to the same time last year. Inventory is growing most significantly on the East.
The real estate market remains firm in Sea Colony. As the chart illustrates, sales activity is up 79% so far this year when compared to the first 4 months of last year. Sales volume is up for both sides of the community. Prices remain stable on the West, but the market is showing some softening on the East.
As always, if we can offer you any real estate guidance, please call our Sea Colony
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Happy Spring! Last month, we shared with you that after many years of deficient inventory, we were starting to see properties coming on the market more frequently. As we start the month of May, this trend continues as inventory in the Bethany-Fenwick market is up 58% when compared to the same time last year.
The beach real estate market remains firm. As the chart illustrates, sales activity is up 14% so far this year when compared to the first 4 months of 2023 and sales volume is up 19%. Properties are taking a little longer to sell with 11 days as the median days-to-contract so far this year, vs. 9 days last year. Meanwhile, prices are stable.
The busy Summer season is just around the corner, if we can offer you any real estate guidance,
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March has arrived and we are looking forward to longer light filled days ahead! Bayside had a firm start to the year for real estate activity. While it is not the frenzy that we experienced in 2021 and 2022, to-date, sales are close to keeping pace with last year.
As the chart illustrates, through the first two months, 10 properties went under contract in Bayside compared to 11 during the same time last year. Properties that are priced appropriately continue to sell quickly although the pace is slowing. The median sale price of properties settled in January and February was up 3% when compared to the same months in 2023.
March has arrived and we are looking forward to longer light filled days ahead! The Ocean View area had a firm start to the year for real estate activity. While it is not the frenzy that we experienced in 2021 and 2022, to-date, sales are keeping pace with last year.
As the chart illustrates, through the first two months, 50 properties went under contract in Ocean View compared to 53 during the same time last year. Inventory remains at historical lows and
properties that are priced appropriately continue to sell quickly although the average days to contract is rising. The median sale price of properties settled in January and February was up 7% when
compared to the same months in 2023!
March has arrived and we are looking forward to longer light filled days ahead! Sea Colony has had a good start to the year for real estate activity. While it is not the frenzy that we experienced in 2021 and 2022, to-date, sales are up considerably when compared to last year.
As the chart illustrates, through the first two months, new contracts doubled when compared to the same time last year. Inventory is slowly rising, but remains at historical lows. Sales volume in dollars (based on list price) was up 117%. Properties that are priced appropriately continue to sell very quickly and the median sale price of properties settled in January and February was up 4% when compared to the same months in 2023.
March has arrived and we are looking forward to longer light filled days ahead! The Bethany-Fenwick area had a good start to the year for real estate activity. While it is not the frenzy that we experienced in 2021 and 2022, to-date, sales are up considerably when compared to last year.
As the chart illustrates, through the first two months, new contracts were up 34% when compared to the same time last year. Inventory is slowly rising, but remains at historical lows. Sales volume in dollars (based on list price) was up 30%. Properties that are priced appropriately continue to sell very quickly and the average sale price for properties settled in January and February was down 5% when compared to the same months in 2023. This is due to the fact
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