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.
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.
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.
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.
Search Homes for Sale in Ocean City, NJ
Market Report - Homes for Sale - Ocean City, NJ - August 2017
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
Content written and published by Bill Wagner - Wagner Real Estate Group
Copyright 2017 Bill Wagner All Rights Reserved Wagner Real Estate Group
Comments (1)Subscribe to CommentsComment