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In Atlantic County and the shore communities, it’s unclear whether or not it’s a buyer’s market or a seller’s market. Ocean City home values actually stayed relatively flat last year, but there was a major increase in the number of homes sold. On top of this, there was a 13-15% increase in price.
The southern half of Cape May County in the Jersey Shore area saw an increase in home sales and a small increase in home prices. In some areas, sales prices rose as much as 6%.
Depending on which area of Jersey you live in, your market may be relatively flat, or it could be peaking. There are many micro-markets in Jersey, so please don’t hesitate to contact us if you want to know how your locale is performing.
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