A strong finish to the year suggests a successful 2015

Although the holidays slowed the housing market, December 2014 finished the year off with strong signs of recovery. The number of new listings steadily increased and homes are still selling quickly. The finish to the year is a strong indication of further recovery in 2015.
New listings for single family homes increased from 566 listings in December 2013 to 618 in December 2014—a 9.2% increase. Single family homes also saw a 6.7% increase in the number of closed sales, from 519 closed sales in December 2013 to 554 last month. Townhouse-condos experienced a 9.7% decrease in closed sales—December 2013 had 62 closed sales, while December 2014 had 56. Although there was a slight decrease in closed sales, townhouse-condos saw a dramatic 63.5% increase in the number of new listings, from 52 in December 2013 to 85 in December 2014. The adult community had 327 closed sales in December 2014, a 12.4% increase from December 2013. New listings for adult communities rose 9.5%, from 242 new listings in December 2013 to 265 new listings in December 2014. The market of Ocean County saw, overall, a 13.1% increase in new listings and an 8.1% increase in closed sales.
Sellers of single family homes reported receiving an average of 94.9% of the original asking price after an average of 117 days on the market. Townhouse-condo sellers received an average of 95.7% of the original asking price, and their homes stayed on the market for an average of 137 days. Homes in the adult communities stayed on market for an average of 82 days and sellers reported receiving an average of 94.6% of the original list price. Overall, homes in Ocean County were on market for an average of 107 days and sellers received an average of 94.8% of the original list price.