Local home sales were down more than 30 percent in April from March, a bad sign for a real estate market that showed some signs of recovery in the prior two months.
Only 37 homes were sold in Bethany, North Bethany, South Bethany, Ocean View, Millville, Fenwick Island and their immediate surroundings in the last month, according to multiple listing service numbers. Some 53 homes sold in March.
Historically, home sales here have jumped from March to April — likely a sign of better weather. Home sales rose from 76 to 98 from March to April of 2004 and from 79 to 112 between those months in 2005.
Sales last year followed this year’s pattern, though, when the market was at its lowest point. After 47 homes sold in the same areas in March of 2006, local sellers only unloaded 34 last April.
But first-quarter sales were at their lowest this year, albeit with some optimistic signs at the end of March. On the last day of the first quarter of 2007, only 92 homes had sold in the aforementioned areas –15 fewer than in the poor 2006 market. Sellers sold 203 homes in the area in the first quarter of 2005.
The 82 homes under contract in those areas at the end of March this year were expected by some to prop up the sagging market. Only 55 homes were under contract at the end of April.
Check next week’s Coastal Point for continuing coverage of this issue.