Summer Buyer Activity Slower in Ocean View

Real estate activity in Ocean View has remained slower when compared to last year. After a firm Spring market that was fueled by increased inventory and more buying options, we experienced some slowing in June and July. During those 2 months, 43 properties went under contract in Ocean View
(versus 55 during the same time last year).

As the chart illustrates, both the number of sales and sales volume in dollars are down year-to-date. Inventory has increased 15% when compared to the same time last year, creating more competition for sellers. Meanwhile, properties are taking a little more time to go under contract.

So far this year, our group has represented more clients in Ocean View (buyers and sellers combined) than any other agent or group. As always, if we can offer you any real estate guidance during this time, please give us a call.
302-541-5207

Data was derived from the Sussex County MLS. Includes Single Family and Condo/Townhome properties in Ocean View. May not reflect all market activity.