Homes for Sale - 55+ Adult Communities - Mays Landing, NJ - Oct/2013 08330

Real Estate Sales Representative with Wagner Real Estate Group NJ License 7872204

Homes for Sale - 55+ Adult Communities - Mays Landing, NJ - 10/2013

Adult Communities

The Mays Landing 55+ Adult Community Real Estate Market is showing an overall improvement as we head into the fall season. October saw a 25% increase in new listings coming on the market over October of 2012. Only 1 new adult community home was introduced to the market.

The number of newly listed Mays Landing 55+ Adult Community Homes for Sale in the 12 month period ending October 31st is down 2.2% over the previous 12 month period.

Sold properties in October where up 400% with 5 sold adult community properties. This brings the current total of sold properties for the 12 month period to 58. A 70.6% increase over the previous 12 month period.

Combined, the total number of newly listed Mays Landing NJ Adult Community Homes for Sale and total inventory versus the number of properties being sold has allowed the months supply of inventory to drop to 6.8 months. A 60.2% decrease from 2012. This denotes an Nuetral Market, and is a significant improvement from 17.1 months last year.

Average Days on Market in October was 92 days. Days on Market only reflects the properties that have sold and not an average of the total inventory that is currently available. There are several factors contributing to this drop. More sellers realize that the market is really soft and are pricing their homes aggressively in order to get them sold. Many are relocating out of state where housing costs are lower.

Average Days on Market for the running 12 month period is actually up .6%% to 174 days.   

Homes for Sale - 55+ Adult Communities - Mays Landing, NJ

Median Sale Prices for this October are up 12.3% over the October 2012. Because of the very low number of adult community homes being sold each month the Median Sale Prices tend to be unreliable on a month to month comparison. With only 6 sold properties per month, a very low sale or a very high sale can cause a large deflection in the Median. Over a 12 month running period, which provides a more reliable gauge, Median Sale Prices have decreased 10.1%. 

It will be interesting to see if, in fact, Median Sale prices of Homes for Sale in the Mays Landing 55+ Adult Community Market will continue to gain some traction. Unemployment continues to remain the highest in the State and higher than most areas of the country. Unemployment in Atlantic County is the biggest detriment to prices we face. If prospective buyers do not have decent paying, full time jobs, they do not qualify to purchase. The result is a much smaller pool of buyers and reduced demand. Adult community homes are less sensitive to employment numbers because many occupants are retired.

Mortgage Rates have dropped back into the 4% to 4 1/2% at this writing. As can be seen in the below graph, we appear to have more stability in the last year than in the previous two years.

Homes for Sale - 55+ Adult Communities - Mays Landing, NJ

With supply reduced, demand slightly improved, and the fact that many adult community sales are not reliant on financing, the Median Sale prices may well have the ability to improve. 

Search Mays Landing 55+ Adult Community Homes for Sale

Homes for Sale - 55+ Adult Communities - Mays Landing, NJ - 10/2013

By Bill Wagner

609-432-8005 cell


If you are considering the sale or purchase of a home give us a call to benefit from our 35+ years of experience.

Search available properties in specific communities:

All of Atlantic County

Absecon Atlantic City Brigantine Buena Buena Vista Corbin City Egg Harbor City Egg Harbor Township Estell Manor Folsom Mays Landing Hamilton Township (Mays Landing) Hammonton Linwood Margate Mullica Township Northfield Ocean City Pleasantville Port Republic Somers Point Upper Township Ventnor Weymouth Township 

Original content can be viewed at:

Posted by




Wagner Real Estate Group Logo

Bill Wagner

Wagner Real Estate Group

609-432-8005 cell

Connect with Bill on these other sites

Facebook icon   Google plus icon   Twitter Icon      Foursquare icon

Connect with Wagner Real Estate Group on these other sites 

 Facebook icon 1   Google plus icon 1   Twitter icon 1   LinkedIn icon 1   

Search for Homes in Atlantic and Cape May Counties

Top Contributor



This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Real Estate Market Trends
New Jersey Atlantic County Mays Landing
homes for sale
atlantic county
adult community
hamilton township
mays landing

Post a Comment
Spam prevention
Spam prevention
Post a Comment
Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?


Bill and MaryAnn Wagner

Jersey Shore and South Jersey Real Estate
Want to know more about Real Estate in South Jersey?
Spam prevention

Additional Information