Ocean Gate real estate report

By
Real Estate Agent with Cara Realtors

Ocean Gate - This is the real estate report for single-family homes in Ocean Gate for February 2010.

There are 16.42 months of inventory (months to sell present inventory at present sales rate), 31 active listings with an average list of $275,525 spending an average 123 days on the market.

Last month, there were four new listings carrying an average list price of $415,350. The number of new listings for February of last year was nine, and they carried an average list price of $267,455.

Two homes are presently pending with a list value of $223,900 after 152 days on the market. During the same month last year, one home was pending with a list value of $334,900 after 168 days on the market.

Zero homes were sold this February. One home was sold last February for $141,500 after being listed for $159,900 and spending 87 days on the market.

One home is currently under contract with a list price of $199,900 after 178 days on the market. Last February, one home was under contract with a list price of $249,000 also after 178 days on the market.

Zero listings expired this month, as compared to five expired listings last year during this time period. Those expired listings had an average price of $348,760 and 180 days on the market.

Judging the numbers, my opinion is that the market in Ocean Gate is still weak, but with zero expired listings, it could mean people have started to price their homes to where they are selling or that they just cannot afford to sell at this time.

Comments (1)

Katrina Cole
The Jonathan Arnold Team of Inlanta Mortgage - East Grand Rapids, MI
Inlanta Mortgage, Business Development Manager

Welcome to Active Rain, Robert.  It is good to see that you have started your blog right away.  This is a great place to network, share ideas and meet like-minded professionals.  Thank you for the great information.

Mar 26, 2010 04:28 AM