Home Sales in Little Egg Harbor & Tuckerton. Is it a Fluke or a Spike in home Sales?
June sales are up. Up big! We had 10 more sales in June of 2010 than we did in June 2009 in the Tuckerton and Little Egg Harbor. That comes after three months of dismal sales figures for zip code 08087. But, it is also on the heel of the end to the government tax credit stimulus program. The dead line to have a house under contract to get the tax credit was April 30th and it must be closed by June 30th. The government recently extended the closed date because so many of the homes were being sold as Short Sales and the banks could not accept the low bids and process the paperwork in time to meet the deadline.
However, I am beside myself trying to figure out if we have returned to a more normal market or if we just saw a fluke in the housing sales. What I can tell you is that I get a lot of internet leads that never seem to buy a house - translation - people still want the "American Dream" of owning a home (I think). Yet, the other thing I can tell you about home sales in this area is that there does not seem to be a lot of showings for all those listings sitting on the market.
How do I know this? The office maintains a key register and the same sign out sheet sits on the counter day after day with hardly an agent being added. And, it is true I can show you a computer print out of the number of times your house has been visited on the internet looking at the pictures and reading the ad copy which tells you buyers are interested. And, now I can boost that 10 more homes sold in June 2010 compared to June 2009; the truth is, we are very slow at the office where customers call in and other agents stop by to pick up a key to show your home. The truth is, we have shown very little growth in sales from 2009 in March, April, and May - actual we sold one less home in March 2010 than in March 2009.
Therefore, I am placing June sales in the FLUKE column. Here is the data, you decide:
Tell me what you think. Give it to me straight. Federal Economy, State Economy Prices coming down or going up. What's your opinion?
BTW: Days on Market is down by 8 to 124 DOM and the Median Price of Homes Sold was also down from $240,000 to $215,000 during June of 2010 compared to June of 2009.
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