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    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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