Atlantic County NJ Yearly Statistics Help You Realize the Real Estate Competitive Market.

Atlantic County NJ Yearly Statistics Help You Realize the Real Estate Competitive Market.

Comparisons are from year 2022 to last year 2023. It is February 2024 when I am writing this report.

New single family home listings are down 16.3 % years to year and this helps make closed sales down 21.7% with the lower inventory.  Days on the market for the homes went up just 2.3% which is hardly a change.  Average median sales price for single family homes rose 6.7% from $328,000 to $350,000.00. The big jump overall was in the 55 plus living community sales, where new listing inventory was up 22.9% and closed sales were up 23.5% year to year. As well the median sales price for 55 plus living rose up 11.5%.

Keep in mind since the Covid pandemic, real estate inventory has gone down every where in NJ and the South Jersey Shore area market is extremely competitive. On the mainland areas the $350,000 and below sales price is seeing non stop multiple bidding situations in most cases for homes priced right to begin with. On the islands, it is the $600,000 and below range, you will still see the bidding wars.  Call me at 609-338-1339 if you need tips on how to make your offers more competitive, happy to help!  Gary Simmens