One of the largest and most popular areas of our region is Egg Harbor Township. I’d like to highlight some of the interesting market statistics derived from the multiple listing service to help home sellers and buyers in the area be aware of what is going on in the market.
This first chart shows the median for sale price and median sold price. We look at the February 2017 numbers and then go back to compare those number with a year ago. The median for sale price did not change. The median sold price went down by 14%.
The second chart shows supply and demand by month for Egg Harbor Township. The red bar shows the supply of homes for sale and the green bar shows the number of homes sold. Supply is down by 2% and sold properties are up by 3%. This is good news for sellers. You have less competition and more homes selling than this time a year ago.
The last chart shows the average days on the market up by 17% to 88 days on the market. In this market as a seller you do not want to be average. Our goal is to sell your home during the peak “window of opportunity” the first 4-5 weeks a home comes on the market.
Who do you know looking to sell or buy a home? Please call me for a complementary consultation.
Front porches and back patios have joined forces. The result is the emergence of the “front yard patio.”
A front yard patio is inviting, which might herald a reversal of a 70 year trend towards hiding out in our houses and entertaining only in our backyards. This condition was a direct result of the age of the automobile, when garages gradually crept to the front of the house at the expense of our porches.
For those of us with garage-dominated or porch-less facades, the front yard patio is a welcome feature—a decorative, as well as functional entertaining space that says, “Hello.”
Front patios can look like almost anything, and be constructed of any material that can be made weed-free and level, including brick, stone, gravel, or wood. They can be attached to the home, wrapped around the front door, or set off on their own. And they can be enhanced by such things as:
- A fire pit or heat lamps.
- A small side fountain.
- Low shrubs or low walls.
- Tea lights or lanterns.Front patios are more than simple functional changes in our space and lifestyle. They’re also a smart move for home sellers as they gain traction with buyers who see them as inviting and desirable features that add value to the house.
For more great tips and interesting articles download Matt’s Home News February edition here: February Newsletter – Matt
Most of us have experienced bouts of insomnia that make it difficult to get up in the morning. But for some people, waking up throughout the night is a continuous problem. Here are a few suggestions for improving your sleep and giving yourself more energy in the morning:
- Shut off all electronics at least one hour before bed. Studies have shown that electronics keep the mind active longer than other forms of mental stimulation.
- Do a sleep hygiene assessment on your home. Do you have blackout drapes? Are all LED and other small lights turned off or covered? Do you have a source of white noise, like a fan? Is your pillow and bedding comfortable? Do you need a new mattress?
- Exercise vigorously during the day, but not within two hours of bedtime. Take a walk after dinner to help with digestion, which can also keep you somewhat awake.
- Don’t load up on carbohydrates at or after dinner. Digesting carbohydrates tends to spike the energy in your body.
- Sit up and read a book in bed until you start to feel sleepy. Don’t push past the sleepiness. Instead, put the book down and turn off the light.
- For more great articles and fun facts download and view my January newsletter here. January Newsletter – Matt
I have several clients investing in real estate in this market. Prices are low inventory is high and it’s a great market to buy and hold. I also have investors looking to flip properties. I’ve put together some interesting statistics that should be helpful for people looking to invest in the Atlantic County, NJ real estate market.
Market statistics as of 12/22/16 For Atlantic County NJ
|City||Number of sales In 2016 Year to Date||# of homes for sale||# sold/month||% sold/month|
|Egg Harbor Twp||548||362||45.67||12.62%|
This first chart shows some of the mainland areas, the number of homes sold and % of homes that sold. The highest % sold was Pleasantville at 15.43%. Pleasantville was followed by Northfield, Egg Harbor Township and Somers Point.
It’s also interesting to look at the number of sales in certain price ranges to see what price ranges have been selling the most. Homes in the $150,000-$200,000 are selling most followed by $200,000-$250,000.
|Sold Price||Number of sales by price point|
*Includes these areas: Galloway, Absecon, Port Republic, Egg Harbor Twp,
Hamilton Twp, Somers Point, Northfield, Linwood
I also get asked frequently how long it’s taking to sell homes so I broke that out based on the number of bedrooms. Three bedroom homes are selling faster. This is most likely due to their lower price point.
|3 bedroom||Average 71 days on market|
|4 bedroom||average 91 days on market|
Now is a great time to buy, sell and invest in real estate in Atlantic County. Contact us for a free consultation to help you evaluate your opportunities in today’s market. Matt
November is a great time to winterize your home in preparation for colder weather. Here
are a few quick, inexpensive tips for cutting your heating bills.
1. Use a draft snake. This device was adopted during the Great Depression, and is one of
the easiest ways to cut the cold. It’s a long sack filled with sand or kitty litter that you
can push into the crack under doors to stop drafts. You can buy a pre-made draft
snake, or make your own.
2. Change the direction of your ceiling fans. Heat rises, so pulling the heat down from the
ceiling will warm your room up fast.
3. If you used a window AC unit in the summer, remove it for winter. Warm air escapes
through the vents and the areas around the unit.
4. Service your heating unit and replace filters. An efficient heating unit will work better
and cost less to run.
5. Consider using window insulation film. This thin layer of film sticks right onto your
windows and adds up to 70% more heat retention.
6. Use a candle to detect subtle air leaks. Light a candle, then move it all around the edge
of your windows. If the flame wiggles in the breeze, then caulk that spot on the window.
7. If you have a fireplace, keep the flue closed when not in use to prevent heat from
escaping and cold air from working its way down into the house.
For more tips and articles view and download my November Newsletter: november-newsletter-matt
If your like me your pets are part of the family. We love our pets, but they can be expensive to care for, especially as they age. You never want to have to choose between your pet and your bank balance, so consider these simple tips for saving money while keeping Fido or Fluffy healthy and happy:
Get regular checkups. The money you spend on vaccinations, spaying/neutering, and
routine medical care will pay off in preventing more expensive illnesses later.
Groom at home. Lots of grooming—brushing, washing, clipping claws—can be done
on your own. Also learn to do the unpleasant tasks of cleaning ears and anal glands.
Get annual dental care. Talk to your vet about keeping your pet’s teeth clean and
preventing infections. Dental problems are one of the leading causes of dog or cat
health problems as they age.