March has arrived and we are looking forward to longer light filled days ahead! Bear Trap has had a slow 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 in other areas at the beach, but extremely low inventory has suppressed sales in your community.
As the chart illustrates, through the first two months, new contracts were down 33% compared to the same time last year. Properties that are priced appropriately continue to sell quickly and the median sale price of properties settled in January and February was up 26% when compared to the same months in 2023.