The housing market came in like a lamb, and out like a lion

Although March crawled to get out of the cold weather, the housing market proved that winter is not enough to slow down home buyers and sellers. Each home market in Ocean County saw a rise in numbers, which suggests even stronger numbers to come in the spring months.

The Single Family Home market saw a 7.4% increase in the number of new listings, going from 1,110 new listings in March of 2014 to 1,192 in March of 2015. Single family homes saw a dramatic 18.1% increase in the number of closed sales, from 331 closed sales in March 2014 to 391 last month. Townhouse-condos saw a 17.4% increase in the number of new listings, from 144 in March 2014 to 169 in March 2015. Closed sales for townhouse-condos increased 9.5%, from 42 in March 2014 to 46 last month. Adult communities also saw a rise in the number of new listings—in March of 2014, there were 394 new listings, while March of 2015 saw 449 new listings. Adult communities had 209 closed sales in March 2014 and 213 in March of 2015—a 1.9% increase. The total market saw an 8.6% increase in the number of new listings, from 1,747 new listings to 1,898. Closed sales for the total market increased 11.7%, from 596 in March 2014 to 666 last month.

Single family home sellers reported receiving 95.1% of the original asking price after an average of 109 days on the market. Townhouse-condo sellers, after an average of 103 days on the market, reported receiving 96.1% of the original asking price. After an average of 88 days on the market, adult community home sellers received 94.9% of the original asking price. The total market reported receiving 94.9% of the original asking price after an average of 104 days on the market.

For more information, visit www.oceancountyrealtors.org.