The Changing Nature of Shore Real Estate -Ocean City, New Jersey
I'm a shore realtor working on a barrier island just off South Jersey at the northern most section of Cape May County. When you arrive in Somers Point on the mainland, Ocean City is a short mile or two across the bay to "our center of the world." Let me highlight a short year in action down here.
From Memorial Day through Labor Day we have "the summer rental period" which actually runs from about late June through the end of August ... maybe a 10-12 week season. There is some lag time in there right after Memorial Day for a few weeks, and depending on the Labor Day date, it will also tend to slow down just before Labor Day. You don't sell many houses during the summer because most of the properties become summer rental ones.
Our second major sales period follows the summer rental time frame with "the Fall Buying Period that opens the day after Labor Day and continues until about Thanksgiving. It is a time for showing sale property to buyers, having open houses during the weekend, etc. This period slows down and ends during the November and December holidays and the start of winter.
January and February tend to be very slow time frames for sale activity, but the rental activity begins with a lot of phone calls and summer rentals for the next June, July, and August. Somewhere in late February or early March we begin the largest sale period, "the Spring Buying Period" which arrives like the spring does each year and continues on to the middle of June.
And it starts all over again.
Dustin A. Peters is a sales and rental agent with Goldcoast Sotheby's International Realty in Ocean City, NJ. You can reach him by cell phone at 609-231-6379 or email at the following "dustin@beachnotes.net"
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