Once again By The Sea Condominiums saw minimal sales, as the low inventory trend continues. There is one pending unit on the market at By The Sea Condominiums as of the time of this printing. While it may be tempting to use the low inventory as an excuse to over price and under market, there is growing inventory at other buildings beginning to put downward pressures on the prices overall. Additional increases in interest rates are likely into the 3rd quarter, as the Fed attempts to get inflation under control. Buyer affordability and financing challenges continue for many who would like to participate in the market. Even the vacation rental market is beginning to show signs of stress, with more vacancies and reduced rental rates being reported.
