Realize the difference between national real estate news and stats vs. local stats.

I hope everyone is well. Happy early June. I think I grew 4 inches in height with all the rain we had in the last 12 days. 🙂
I wanted to remind everyone to  please — keep in mind, national news in real estate and their stats do not always line up 100% with local real estate stats and news.
This is part of a national article that just came out in the last week.
“The number of homes on the market nationwide rose 16.7% year over year in April, reaching its highest level in five years, in large part because the mortgage rate lock-in effect has been easing and homeowners are trying to cash out amid the economic uncertainty, according to Redfin. Homes are also sitting on the market nearly a week longer than a year ago. There’s also a growing share of inventory that’s been on the market for more than two months, according to the real estate firm.”
 
While some of this may apply to a few segments of our South Jersey market like 55 plus sales, just for an example. The local stats will usually vary from the
national news. We all get hit with so much news from so many different sources, that you have to see all the local facts and check out the local months of inventory
remaining in each segment and price range. Also keep in mind, there will always be a shortage of quality homes on the market for the $375,000 and below range, because
that is what most married homebuyers can afford these days.
 
Let us look at these 4 counties close by with the latest NJAR state statistics as of the close of the end of April 2025:
Atlantic County is up  6.6% in single family listings and 55 plus living listings segment is up 22.5%
Cape May County is up 14.8% in single family listings and 55 plus living listing segment is down 21.7% from last year.
Ocean County is up 7.9% in single family listings and the 55 plus living listing segment is up only 8.4% and they have a lot of new construction there too!
Cumberland County is up 4.8% in single family listings and the 55 plus listing segment is down 37.5% from same end of April time last year.
 
So the bottom line is, it is all relative to your target market you are looking to buy or sell in now, and specifically the town or type of property. For example condos in general whether at the shore or on the mainland will continue to rise below $350,000 because they will always be affordable and in demand.
But with help of a good realtor you can receive good information for accurate local price point guidance whether buying or selling to be competitive in today`s market.
Have a super month of June!   Gary.
 
All The Best,
GARY D. SIMMENS Broker/Associate/Manager
Over 47 Years Experience -(Since 18 Years Young)
NJAR Distinguished Sales Club Honors
ACCBOR and SJSRMLS Board of Directors.
HS- HomeSmart First Advantage Realty Northfield, NJ 609-645-6000
Commercial/Residential/Land
Cell/Direct: 609-338-1339
Email: Gary4Results@aol.com 
Fast All Office Custom Search Website: www.GarySimmens.com