Q: What’s Going on in Jersey Shore Real Estate

Today, let’s take a look back on the housing market as we’ve observed it between January 1 and July 31 of this year and compare those numbers to what we saw during the same period in 2019.

 

Let’s start with Wildwood Borough:

 

  • Properties listed: down 22% over last year
  • Average sale price: down 7% over last year
  • Properties sold: down 20% over last year

 

North Wildwood:

 

  • Properties listed: down 26% over last year
  • Average sale price: up 11% over last year
  • Properties sold: down 19% over last year

 

Wildwood Crest:

 

  • Properties listed: down 23% over last year
  • Average sale price: up 15% over last year
  • Properties sold: down 10% over last year

 

West Wildwood:

 

  • Properties listed: down 36% over last year
  • Average sale price: up 14% over last year
  • Properties sold: stable compared to last year

 

Diamond Beach

 

  • Properties listed: down 50% over last year
  • Average sale price: up 19% over last year
  • Properties sold: stable compared to last year

 

North Cape May:

 

  • Properties listed: down 50% over last year
  • Average sale price: up 17% over last year
  • Properties sold: up 8% over last year

 

Cape May Courthouse:

 

  • Properties listed: down 24% over last year
  • Average sale price: down 2% over last year
  • Properties sold: stable compared to last year



Now let’s compare the number of properties listed to the number of properties that have sold in our offshore markets:

 

Upper Township

 

  • Properties listed: 190
  • Properties sold: 118
  • Average sale price: $308,000

 

Somers Point:

 

  • Properties listed: 207
  • Properties sold: 100
  • Average sale price: $227,000

 

Ocean City: 

 

  • Properties listed: 1,154
  • Properties sold: 613
  • Average sale price: $728,000

 

Sea Isle City:

 

  • Properties listed: 184
  • Properties sold: 167
  • Average sale price: $866,000

 

In our market, inventory levels are fluid, and there is a flurry of activity. There are many positive aspects for both buyers and sellers, so if you’d like further information about what’s going on in your specific area, give us a call. We’d be more than happy to share some of the numbers with you and explain how they pertain to your situation. Hope to hear from you soon!

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