by Home Prices May Have Bottomed Out: With limited inventory, however, the Mid-Atlantic market remains competitive
June 13, 2023
Del/Mar Coastal: Home Prices Decline For the First Time Since 2020: Despite more listing activity, inventory is still very low
Inventory in Del/Mar has increased year-over-year for the past 12 months. In May, active listings were up 30.4%. Despite inventory gains, supply is limited, with active listings at just 38% of the amount on market in May 2019. Inventory of homes priced under $500,000 are particularly hard to come by.
The median price in the region declined 0.5% from last year, the first year-over-year drop since May 2020. Del/Mar Coastal buyers face competition when purchasing. The median days on market (15) point to the quickness, especially compared to the 42 days that was typical in May 2019.
