Typically, January brings some slow down in real estate activity when compared with our warm summer months, but we are experiencing a time like never before at the beach. In fact, in January, 40 properties went under contract in Ocean View. This is up 67% over 24 in January of 2020 and it would be much higher if there was more inventory available. There are currently 24 properties for sale in Ocean View.
We are often asked whether we are in a buyer’s market or a seller’s market. Based on our recent communications, it should be no surprise that we are clearly in a seller’s market. To put this into perspective, we need to calculate Months of Inventory, also known as the Absorption Rate. The chart
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