Existing-home sales rose for the third consecutive month with inventory easing and home prices declining less sharply in June, according to the National Association of Realtors®.
Lawrence Yun, NAR chief economist, is hopeful about the gain. “The increase in existing-home sales occurred in all major regions of the country,” he said. “We expect a gradual uptrend in sales to continue due to tax credit incentives and historically high affordability conditions. Despite the rise in closed transactions, many Realtors® are reporting lost sales as a result of new appraisal standards that went into effect May 1 of this year.”
Take a look at June 2009 Jersey Shore real estate sales statistics compared to June 2008 for Bradley Beach, Avon-By-The-Sea, and Belmar:
Bradley Beach Real Estate
Homes Sold May 2008: 3
Average Sales Price: $590,000
Average Days On Market: 35
Homes Sold May 2009: 2
Average Sales Price: $282,500
Average Days On market: 72
Avon-By-The-Sea Real Estate
Homes Sold June 2008: 0
Average Sales Price: 0
Average Days Oo Market: 0
Homes Sold May 2009: 0
Average Sales Price: 0
Average Days On Market: 0
Belmar Real Estate
Homes Sold May 2008: 3
Average Sales Price: $610,000
Average Days ON Market: 104
Homes Sold May 2009: 9
Average Sales Price: $826,777
Average Days On Market: 92
Although no single family homes sold in Avon-By-the Sea in June and Bradley Beach sales declined, sales tripled in Belmar while market times decreased.
Wouldn’t you like to summer in your own Jersey Shore home? It’s not too late to take advantage of moderate prices. If you are thinking year-round rather than vacation home, you can use your $8,000 tax credit towards closing costs. Visit Patrick ParkerHomes.com to learn how.
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