Spring Market Strong for Bayside, Inventory on the Rise

Happy Spring! Last month, we shared with you that after many years of deficient inventory, we were starting to see properties coming on the market more frequently. As we start the month of May, inventory in Bayside is up 33% when compared to the same time last year and inventory in the greater Fenwick-Selbyville area is up 42%.

In your community of Bayside, the real estate market remains strong for Sellers! As the chart illustrates, sales activity through April was up 53% with 29 properties going under contract so far this year! Sales volume is up 50% and the median sale price is up 10% year-over-year. Properties are selling more slowly with 30 days as the median days-to-contract so far this year vs. 14 days last year.   

As always, if we can offer you any real estate guidance as a buyer or seller, please reach out to our Bayside Real Estate Experts.

Wayne Lyons             Kiki Hargrove
(302) 858-7347       (302) 569-2959

 *Data was derived from the Sussex County MLS. Includes resale (not new construction) properties in Bayside. May not reflect all activity in the marketplace.