October shows homes are still selling, and selling for higher prices

The housing market for Ocean County in October of 2014 has taken a brief pause during its recovery. Although the holidays are approaching and numbers are down, homes are still selling quickly and for close to the listing price.
Single family homes saw a 4.8% drop in the number of new listings from October 2013 to October 2014, and a 26.1% decrease in the number of closed sales. Townhouse-condos experienced a 9.6% decrease in the number of new listings, and a 25.5% decrease in the number of closed sales. Adult communities also experienced a drop in numbers—the number of new listings fell 16.3% and closed listings dropped 22%. Overall, the total market saw an 8.3% drop in new listings, and 24.4% drop in the number of closed sales.
Sellers of single family homes reported that their homes were on the market for an average of 109 day—a 7.9% increase from October 2013’s 101 days. Single family home sellers received an average of 94.3% of the original asking list price. Townhouse-condo sellers received an average of 94.1% of the original asking list price. Townhouse-condos sold after an average of 120 days on the market, which is an 18.8% increase from 101 days in October of 2013. Adult community homes reported that the average of days on the market went up 29.7%, from 64 days in October 2013 to 83 days in October of 2014. Adult community homes sold for an average of 94.7% of the original asking list price. The total market received an average of 94.4% of the original list price, and the number of days on the market increased from 87 to 100 days—an increase of 14.9%.