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!
