We are just one month into the year and so far, we are experiencing good buyer activity in Ocean View! In January, 27 properties went under contract in Ocean View. This is up compared to 24 sales during the same month last year, even though there is 15% less inventory available.    

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 for Ocean View and Bethany Beach real estate. If you are looking for Ocean View DE homes

For a number of months, we have been reporting that sales are down when compared to the same month last year. This trend broke in August!   During the month, 25 properties went under contract vs. 20 in August of 2022. Meanwhile, inventory has remained relatively stable with 77 properties for sale versus 73 at this same time last year. We don’t know how long this little flurry of activity will last, but it feels as though buyers are tired of waiting for better buying conditions and they are motivated to move on the right property.

As the chart illustrates, total sales year-to-date in Ocean View are down 12% while the median sales price is down 2%. Properties tend to sell in just under a month with 25 days being the median amount of time to go under

It is hard to believe that Labor Day weekend is right around the corner, we hope you are having a wonderful summer! While total real estate sales are down 14% year-to-date in Ocean View, the market remains very strong.

It has been more than a year since the “buyer frenzy” we experienced in 2020 through early 2022, but it remains a strong time to be a seller with minimal competition.

As always, if we can offer you any real estate guidance during this time, please give us a call:
302-541-5207.

Data was derived from the Sussex County MLS. Includes Single Family and Condo/Townhome properties in Ocean View. May not reflect all market activity.

This is the time of year when we like to calculate absorption rates in order to understand 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 determine how many Months Supply of Inventory is for sale.

Generally, a balanced market would have 7 months of inventory, more would be a buyer’s market and less a seller’s market. At this time last year, there was less than 2 months of inventory for both Single Family homes and Condo/Townhomes, but clearly the market was starting to shift direction. We continue to stay well under a balanced market due to extremely deficient inventory. 

If you would like to discuss the market in more detail, please give us a call: (302)