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Sales in the Sussex market continued to surge in the first quarter, rising almost 7% and marking over three straight years of increasing transactions. This demand continues to winnow down the inventory, which was down almost 22% and is now getting close to the six‑month level that usually denotes the beginning of a seller’s market. But Sussex homeowners are still waiting for some meaningful appreciation, with prices flat for the quarter and still down for the year. We continue to believe that these high levels of demand coupled with declining inventory will eventually drive some meaningful price appreciation, perhaps even as soon as this spring market.
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