Ocean City Home Values Rose More Than Almost Any In NJ Amid COVID

OCEAN CITY, NJ — Despite economic hardships associated with the coronavirus pandemic, home values have gone up. And Ocean City homes have seen one of New Jersey's biggest average increases in the past year, according to CoreLogic’s Case-Shiller Index, which tracks house prices nationally.

Ocean City-area homes saw the second-largest bump in New Jersey from May 2019 to May 2020. Their index rose from 268.2 to 283.3, a 5.6 percent increase. Homes in the Atlantic City-Hammonton area increased 5.7 percent from 197.4 to 189.5.

The Case-Shiller Index found that home values increased in 447 of 456 U.S. metro areas from May 2019 to this May. The values are based on repeat sales of single-family homes. The designated areas correspond to U.S. Census metropolitan and micropolitan areas.

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