Homes for Sale Ocean City NJ Market Trends January 2016

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

Homes for Sale Ocean City NJ Market Trends January 2016

Single Family

Homes for Sale in the Ocean City Real Estate Market showed mixed results for January. January saw a 22% increase in new listings coming on the market over January 2015. 50 newly listed single family homes where introduced to the market.

Sold properties in November where down 11.1% with 16 sold single family properties. 

Combined, the total number of new listings of Ocean City NJ Homes for Sale and total inventory versus the number of properties being sold has allowed the months supply of inventory to decrease to 10.2 months. This still denotes an extremely strong Buyers Market but is a 1.9% improvement from 10.4 months last January.

Single Family Homes for Sale Ocean City NJ January 2016

Average Days on Market is up 17.2% to just under 5 months. Days on Market only reflects the properties that have sold and not an average of the total inventory that is currently available. 

Median Sale Prices for this January were up 2.6% from January 2016.  It appears that the Ocean City Market is improving. 

 

Market Report - Homes for Sale - Ocean City, NJ - January 2016

Search Homes for Sale in Ocean City, NJ

 

Condos for Sale Ocean City, NJ - Real Estate Market Trends - January 2016

The Ocean City Real Estate Market for Condos is showing significant improvement for January. January showed a 9.3% decrease in new listings coming on the market. 127 newly listed condos where introduced to the market. 

Sold properties in January were up 2.9% from last January with 36 sold condominium properties. 

Combined, the total number of new Condo listings for Sale in Ocean City NJ  and total inventory versus the number of properties being sold, has allowed the months supply of inventory to decrease to 11.1 months of supply. This still denotes an extremely strong Buyers Market but represents an 16.5% decrease from January 2015 of 13.3 months.

Condos for Sale Ocean City NJ January 2016

Average Days on Market for January is up 28.4% to 172 days. Days on Market only reflects the properties that have sold and not an average of the total inventory that is currently available. 

Median Sale Prices for this January are up 21.7% over January 2015. 

Homes for Sale Ocean City NJ Graph January 2016

Median Sale prices for condos appear to have stabilized in the Ocean City Market as can be seen in the above chart.

Mortgage Rates are fairly stable and at this writing and are in the 4% range. 

 

Market Report - Homes for Sale - Ocean City, NJ - Janaury 2016

If you are considering the sale or purchase of a home give us a call to benefit from our

50+ years of combined experience. 

By Bill Wagner

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Content written and published by Bill Wagner - Wagner Real Estate Group

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Comments (3)

David Alan Baker Laveen & South Phoenix Realtor
Keller Williams Realty Phoenix - Laveen, AZ
Your local Expert

This is some really great information.  Nice to see the break out for condos as well.

Feb 23, 2016 08:12 AM
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Thank you for an easy read and informative post Bill and MaryAnn Wagner  - we are now "following" you!

 

Apr 13, 2016 02:51 AM
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

Very nice Market Report ! Our family has two houses on 19th and Central !

May 16, 2016 10:16 AM