2010 Real Estate Market in Ocean City, New Jersey
We have given you some opinions regarding the real estate market for 2010; and we have analyzed the inventory from the Multiple Listing Service and gone into detail on property categories: single family, multi-family, and condominiums. And we covered some other real estate thinking as well. So if you have been following the postings, hopefully you are ahead of the game.
Let's focus on one more topic: sold/pending property for the month of January 2010 ... 28 days to be exact. We find 27 single family under contract ... 6 of the 27 sold to date, 4 multi-family under contract ... none sold to date, and 66 condominiums under contract ... 10 of the 66 sold to date. That make a grand total of 97 properties under contract during the 2010 time frame - the first 28 days of January.
Now to fully understand the last paragraph: the closing date for the property sale will be sometime between the 1st and the 28th of January. The actual contract date when it was taken off the market might have been earlier, even into the past 2009 calendar year. But it still means a lot of sale activity has been taking place in 2010.
On a personal level as an agent, I have had two properties go under contract ... both single families ... one working for the Seller, the other working for the Buyer ... with the closing happening in February and March respectively. I also have one additional property in negotiations right now. So it does represent a good start for the 2010 calendar year.
For those Buyers interested in checking out sale properties in Ocean City (NJ), please take a look at our listings at www.FrenchSales.com or send me an email at Dustin@BeachNotes.net or give me a call at 888-215-9935. I would also request that any Owners thinking about the sale of their property in Ocean City consider giving me an opportunity to talk with you about an "opinion of value" as well as a listing process to sell your property. As always, thank you for taking the time to read this posting. dap