We are just one month into the year and so far, we are experiencing good buyer activity at the beach! In January, 6 properties went under contract in Sea Colony. This is up 100%, compared to 3 properties under contract during the same month last year, even as we continue to have very little inventory.
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.
While there has been some growth in inventory on the East, we remain in a Seller’s Market at Sea