Despite the pause, homes are still selling quickly, and for more money

The pause seen in October 2014 in the Ocean County housing market has continued into November. With the holidays between November and the New Year and winter closing in, it is easy to understand why the pause has extended. Despite the slow-down, homes are still selling quickly and sellers are receiving a high percentage of the original list prices.
Single family homes saw a decrease in the number of new listings by 27.5%. In November of 2013, single family homes saw 805 new listings and 584 new listings in November 2014. Closed sales for single family homes dropped 7.7%, from 481 closed sales in November 2013 to 444 closed sales in November 2014. The number of new townhouse-condo listings decreased 21.4%, from 103 new listings in November of 2013 to 81 new listings in November 2014. The number of closed sales for townhouse-condo listings increased by 16.7%, from 48 in November 2013 to 56 in November 2014.The adult community saw only a 4.2% decrease in the number of new listings. November 2013 had 311 new listings for the adult community, and 298 in November 2014. Closed sales for the adult community increased by 6.6%, from 259 in November 2013 to 276 in November 2014. The total market saw a 20.9% decrease in the number of new listings, from 1,220 in November 2013 to 965 in November 2014. There was only a 1.4% decrease in the number of closed sales for the total market. November 2013 had 789 closed sales in total, and November 2014 had 778.
Adult community home sellers reported an average of 79 days on market and receiving an average of 95.3% of the original list price. Townhouse-condo sellers experienced receiving an average of 94.6% of the original list price, as well as an average of 75 days on the market. Single family home sellers received an average of 94.6% of the original list price, and reported being on the market for an average of 111 days. The total market experienced an average of 97 days on the market, and reported receiving an average of 94.8% of the original list price.