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The surge in Ocean View real estate activity that we felt in 2020 and2021 carried into the first quarter of 2022 and then slowed in the second quarter. There was moderate activity in the third and fourth quarters of the year in Ocean View, DE. While there is still plenty of uncertainty about what the state of the economy means for real estate in the short term, we are enthusiastic about the year ahead! Real estate has been and will continue to be an attractive asset with proven appreciation over time, tax advantages and a source of cash flow. Importantly, real estate in Ocean View, an area that is not only appealing to primary home buyers but also second home and retirement buyers, is a tangible asset that offers immediate enjoyment.
During 2022, the highest sale priced home in Ocean View, DE settled for $1,725,000. The lowest priced home to sell in Ocean View closed for $170,000 which is up 55% over the highest sale in 2019 at $110,000. The median sale price in Ocean View, DE rose 24% in 2022 to $528,450. At year’s end, there were 73 properties for sale in Ocean View, DE (Homes, Townhomes & Condos). This is down 99% when compared to the end of 2019, prior to the COVID-19 pandemic when there were 145 properties for sale in Ocean View, DE. We believe this environment of limited inventory in Ocean View, DE and the surrounding Delaware beach areas will keep prices of homes for sale in Ocean View stabilized in 2023. Please reach out to discuss your real estate goals as either a buyer or a seller of Ocean View real estate, our Ocean View Realtors are here to help! We are grateful to have had the opportunity to represent more buyers and sellers in Ocean View than any other agent or group during 2022. Please call us if we can be of assistance: (302) 541-5207.
Learn more about the Ocean View Real Estate Market on our blog, by clicking here.