Despite winter overstaying its welcome, Ocean County's housing market thrives

When the weather takes a turn for the worst, it isn’t a surprise to see the real estate market take a brief pause. Despite the snow that was determined to slow down the Jersey Shore, the Ocean County housing market showed strong numbers, indicating that there is steady growth.

Single family homes experienced a 5.6% increase in the number of new listings. Closed sales for single family homes increased by a dramatic 16.7%, from 264 closed sales in February 2014 to 308 in February 2015. Townhouse-condos saw no change in the number of new listings; both February 2014 and February 2015 had 130 new listings. The number of closed sales for townhouse-condos rose 35.7%, from 28 closed sales in February 2014 to 38 in February 2015. The number of new adult community listings decreased slightly by 5.3%. Closed sales for adult communities increased by 7.1%, from 156 in February 2014 to 167 in February 2015. The total market of Ocean County saw a 0.1% increase in the number of new listings, and a 14.2% increase in closed sales. The total market saw 459 closed sales in February 2014 and 524 in February 2015.

Single family home sellers reported receiving an average of 95.3% of their original asking price after an average of 107 days on the market. Townhouse-condo sellers experienced of an average of 126 days on the market and reported receiving an average of 95.7% of the original list price. Homes in the adult communities spent an average of 93 days on the market, and sellers received an average of 94.1% of the original asking price.

Source: 10K Research and Marketing

For more statistics and information on using REALTORS®, visit oceancountyrealtors.org.