Homes for Sale Ocean City NJ Market Trends September 2017

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

Homes for Sale Ocean City NJ Market Trends September 2017

Single Family

Homes for Sale in the Ocean City Real Estate Market showed mixed results for September. September saw a 19.1% decrease in new listings coming on the market over September 2016. 38 newly listed single family homes where introduced to the market.

Sold properties in September where down 41.9% with 18 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 10.4 months. This still denotes a strong Buyers Market but is a 9.6% improvement from 11.5 months last September.

Ocean City Single Family Homes 

Average Days on Market is up 81.6% to 136 days. Days on Market only reflects the properties that have sold and not an average of the total inventory that is currently available. 

The inventory of homes for sale is down 13.3%.

Median Sale Prices for this September were down 3.2% from September 2016.  

 

Condos for Sale Ocean City, NJ - Real Estate Market Trends - September 2017

The Ocean City Real Estate Market for Condos is showing improvement for September. September showed a 12.3% increase in new listings coming on the market. 146 newly listed condos where introduced to the market. 

Sold properties in September were up 7.7% from last September with 56 sold condominium properties. 

Ocean City Condos

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 8.5 months of supply. This still denotes an Buyers Market but represents a 32% decrease from September 2016 of 12.5 months.

Average Days on Market for September is up 7.1% to 106 days. Days on Market only reflects the properties that have sold and not an average of the total inventory that is currently available. 

Inventory of condos for sale is down 18.5%.

Median Sale Prices for this September are up 6.1% over September 2016.

Ocean City Homes Graph

 

Year-to-date the median sale prices for condos have increased 9.3 %.

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

 

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Market Report - Homes for Sale - Ocean City, NJ - August 2017

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