June is recognized as National Homeownership Month. To celebrate, the Ocean County Board of REALTORS® will be hosting a county-wide open house on Sunday, June 8th, 2014. Homeowners interested in having their homes featured should take this opportunity should contact their agent to ensure the listings receive maximum exposure.
Ocean County has given the market a positive outlook for the month of April. April 2014 showed a 2.4% increase in the number of new listings for single family homes from April 2013. Between April of 2013 and April of 2014, the number of new listings for single family homes has increased by 12.1%. Adult community listings also experienced an increase in listings in April 2014 by 5.6%, and in the last twelve months, listings have increased by 3%. The number of new listings from townhouses and condos had only a 0.6% decrease for both the month of April 2014 and the last twelve months.
Sellers of single family homes should be excited to learn that the average number of days on the real estate market has decreased 11.5% from 122 days to an average of 108 days and in the last twelve months the number of closed sales has increased 23.8% with sales averaging 94.5% of the list price. The number of days on the market for townhouses and condos has also decreased 10.7% from 122 days to an average of 109 days, with the number of closed sales increasing by 35.7% with sales receiving an average of 94.7% of the list price. Adult communities have also reported that the number of days on the market has decreased 23.5%; the average number of days on the market has shifted favorably from 98 to 75 days with an 18.7% increase in the number of closed sales and sales receiving an average of 95% of the listed price.
There is also good news coming out of Ocean County regarding the upcoming Summer Rental season! Although some coastal areas of Ocean County were impacted differently from the storm, all of the offices surveyed are reporting numbers well ahead of last year this time! In fact, some offices are predicting numbers at or close to 2012 levels.
For those planning a summer vacation at one of the many beautiful Ocean County beaches, there are still prime properties and weeks available, however you shouldn’t wait too much longer before making your plans. It is important to make sure you work with a local REALTOR® as they are knowledgeable about the area you are looking in.