As we head into what is typically a strong selling season for beach property, this is a time 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 determine how many Months Supply of Inventory is for sale. Generally, a balanced market would have between 6 to 7 months of inventory. At this time, both Sea Colony East and West have 1 month of inventory. We are clearly still in a strong seller’s market due to inventory shortages, but as the chart illustrates, the trend has changed direction when compared to the same time last year.

This shift is a good representation of what we are currently experiencing in the marketplace.

The kick-off to summer has arrived and we have enjoyed seeing so many visitors over the last few weeks! The month of May was slower for real estate as 7 properties went under contract in Sea Colony compared to 12 at the same time last year.

While we are certainly experiencing a slow down in market activity, real estate remains a strong investment with appreciation over time. If you have any questions related to real estate, we are here for you. Please call Sea Colony Experts, Gail Phelan (302) 233-4909 and Chris Housman (302) 853-0192.

We are now into the month of March and are looking forward to the longer, light filled days ahead! Looking back on the first two months of 2022, real estate activity was extremely competitive with the continuation of deficient inventory and we experienced multiple offers in many situations. We have said this many times before: it is hard to predict how long this environment will last!

As the chart illustrates, total sales in Sea Colony were down 45% when compared to the same time last year as inventory remains at record lows—there are currently no properties for sale in Sea Colony! Sales volume in dollars (based on list price) was up 4% as 8 of the 11 sales were on the East. Properties continued to sell very quickly. In fact, 9 of the 11 units that

For more than a year now, we have shared with you that the beach real estate market has been extremely strong for sellers with limited inventory leading to rising prices. This trend has continued and as of August 1, there were 6 properties for sale in Sea Colony versus 8 one year ago and 51 in 2019. There continues to be pent up buyer demand as inventory cannot keep pace and many properties are selling within just a few short days!  

As we look toward the fall and winter months, we anticipate a rise in new listings and there is no way to predict how long these conditions will last. If you are considering a sale or looking to purchase, please call our Sea Colony Experts: Gail Phelan 302-233-4909 or Despina Kaneles 302-236-2428.