Here is a look at the Atlantic County real estate market. We will break out single family homes, condos and take a look at adult communities.
For single family homes, New listing were up in December, closed sales were up and median sales price was up by 22.6% to $225,000. Inventory was down by 4.7%.
For condos and townhomes new listings were up 40% and median sales price was up 31.8%. Inventory went up 10%. Recent changes allowing FHA spot approvals should open up more financing options for condo buyers and also help contribute to increased condo prices.
For adult communities new listings rose by 42.9%. Days on market dropped by 60% to just 33 days on market. Median sales price decreased by 21% for the month. In general the adult community home prices do mirror the rest of the market so a few lower priced homes sales may have led to the drop in prices for the month.
If you’re thinking about buying or selling a home please contact us for a complimentary Pin Point Price Analysis and Room By Room Review.
Recent sale in Egg Harbor Township went under contract in 7 days $7,000 over asking price.
It’s a great time to sell a home and I want to share a story about Jim and Lori who were able to sell their Egg Harbor Township home quickly and for top dollar. The biggest factors in selling any home are price and condition.
Jim and Lori had a home inspection done before listing their property so they didn’t have any surprises. They fixed most of the items that came in the inspection report before listing the house to ensure a smooth sale. They also priced the house right. The result of this was 9 showings and under contract in 7 days. The home sold in just 42 days and sold for $7,000 over the asking price.
If you’re interested in selling your home and want top dollar and a quick sale contact me for a free consultation.
We are rolling toward the end of October and Thanksgiving is right around the corner. Many home seller chose to pull their homes off the market this time of year and wait until Spring to sell. Here are 11 reasons sellers should list during the Holiday Season.
11. By selling now, you may have an opportunity to be a non-contingent buyer during the Spring, when many more houses are on the market for less money! This will allow you to sell high and buy low.
10. You can sell now for more money and we will provide for a delayed closing or extended occupancy until early next year.
9. Even though your house will be on the market, you still have the option to restrict showings during the six or seven days around the Holidays.
8. January is traditionally the month for employees to begin new jobs. Since transfers cannot wait until Spring to buy, you need to be on the market during the Holidays to capture the market.
7. Some people must buy before the end of the year for tax reasons.
6. Buyers have more time to look for a home during the Holidays than they do during a work week.
5. Buyers are more emotional during the Holidays, so they are more likely to pay your price.
4. Houses show better when decorated for the Holidays.
3. Since the supply of listings will dramatically increase in January, there will be less demand for your particular home. Less demand means more money for you.
2. Serious buyers have fewer houses to choose from during the Holidays and less competition means more money for you.
And the number one reason why your seller should list during the Holidays …
1. People who look for homes during the Holidays are more serious buyers!
If you’d like to know if this is the best time or not to sell for you please contact me at 609-338-3773.
Recently I’ve had several sales in Mays Landing. I’d like to take a moment to share 3 reasons Mays Landing is a great place to live. I’d also like to highlight three great communities I’ve recently had sales in.
Mays Landing is located just West of Atlantic City. It’s about 20 minutes drive to Atlantic City. An hour to Philadelphia and 2 hours to New York. Mays Landing is also the regional shopping hub. Home of Hamilton Mall and major retailers like Macys, Khols, Target, Wal Mart, Hobby Lobby, Home Goods, Bed Bath And Beyond, Best Buy and more. Mays Landing also is home to many national restaurants such as Longhorn Steakhouse, Buffalo Wild Wings, Olive Garden, Red Lobster, Famous Dave’s, Red Robin, Moe’s, Outback, Chipotle and more. It’s convenient location makes it a great place to live and have easy access to shopping and activities.
Two of our recent sales in Mays Landing.
Low Tax Rate
Mays Landing has one of the lowest tax rates in Atlantic County. Their municipal Tax Rate is 0.882 making it one of the lowest municipal tax rates. Many Mays Landing Homes have taxes under $5,000 per year.
Low Home Prices
Mays Landing also has reasonable home prices. I’ll give you a few examples. I recently sold a fantastic 4 bedroom, 3.5 bathroom home in Victoria Pointe for $245,000. I also sold a beautiful home in a 55 and over community called Tavistock. The home was 2 bedrooms, 2 baths and sold for $187,000. And even if you’re looking for something on a lower budget I sold a 3 bed, 2 bath manufactured home at The Fairways for $70,000. Also if you’re looking for a new home Artists Walk has homes starting in the low $200,000 range.
Mays Landing has a great location, reasonable home prices and low taxes. If you’re looking for a home consider Mays Landing. There are a variety of communities to fit your needs. Contact us for a consultation to see if Mays Landing would be a good fit for you.
New home ownership is more affordable than you may think.
If you’re looking for a new home now is a great time to buy a brand new home. We work with several new national and local home builders to help you find the right community and the right location. Several of our home builders are offering homes in the low to mid $200,000 price range. This price range is very competitive with resale homes. So for around the same price as a resale home you can buy a brand new energy efficient home with a 10 year warranty.
Our featured new home community is Artists Walk by Ryan Homes in Mays Landing, NJ. These homes are packed with all the features buyers want at a reasonable price. Visit our Artists Walk page for my depth video tours of each of the model homes. Contact us for a free consultation. With just a few quick questions we can help determine the best option and community for you. Best wishes, Matt
Here is a look at 2018 sales in Four Seasons Smithville, Galloway Township, NJ
Four Seasons Smithville is a fantastic 55 and over active adult community built by K. Hovnanian. This is the largest 55 and over community in Atlantic County and has some of the best amenities activities and clubs for active adult home buyers. Recently I met with a couple who will be relocating and wanted to know when would be the best time of year to sell their house. Their new home would not be ready until July or August and they wanted to time the sale of their Four Seasons home with the purchase of the new home. I studied the 2018 sales in the community to give them an idea of when they would need to put their house on the market for sale.
The chart shows the number of sales each month for the community. Average days on market for Four Seasons was 57 for the year. So that means it took 57 days on average for a home to sign a contract. Then typically it would take another 30-60 days to close from that date.
The biggest sales month was July followed by April and September. If you are looking to sell at one of the peak months March or April is a great time to list the house for sale. Who do you know that needs this kind of advice in selling their home? Contact me for a free consultation.
Here is the latest update for the real estate market for Mays Landing, Hamilton Township, NJ Atlantic County
So first let me say that this update is for Hamilton Township (AKA Mays Landing), Atlantic County, NJ. There are two Hamilton Townships in NJ so if you are looking for Atlantic County in South Jersey you’ve come to the right place! Mays Landing is located about 20 minutes east of Atlantic City and Ocean City. Mays Landing is also the regional shopping and retail hub of the county and home to The Hamilton Mall and many other strip centers and chain restaurants.
Here is an update for the Hamilton Township real estate market. New listings were down slightly for December. Closed sales were up. Days on market was down to just 63 days. The median sales price was lower for the month however it is up 14% year to date to a median sales price of $173,250.
This report also takes a look at condos and townhomes in Mays Landing. New listings were down for the month and median sales price is up 21%. Monthly supply of inventory is up slightly to 6 months.
If you or someone you know is thinking of buying or selling real estate in Mays Landing please let us know. We can help them analyze the real estate market in their neighborhood to see if this is a good time to buy or sell for them.
There are many reasons to buy and sell a home right now in Atlantic County, NJ. Let’s take a look at this from the perspective of home buyers and sellers.
Home Buyers In Atlantic County, NJ.
Interest rates are still low. You still have great buying power.
Atlantic County, NJ home prices are on the rise in many of our communities as inventory is shrinking. Purchase now before prices go up.
Right now there are less buyers looking for homes in the winter. Less buyers means less competition and you are less likely to get in bidding wars with other buyers. You can often negotiate a great price and terms this time of year.
Home Sellers In Atlantic County, NJ
Right now inventory is lower in Atlantic County. If your neighborhood has no other homes for sale or just a few for sale this could be a great time to sell before more homes come on the market in the Spring.
If you are moving up to a larger home this is the perfect market to move up to something bigger. Demand for lower price homes in the $200,000 range and below is high. Demand for higher priced home is not as great. That means you can get top dollar for your home and get a great deal when you purchase your next home.
Rates remain low. Higher interest rates mean less buying power for home buyer. If rates go up home prices will go down. Sell now before any likely interest rate hikes occur.
Figuring out when to buy and sell a home ultimately depends on your circumstances and situation. Contact me for a free consultation. I can ask a few simple questions to help you determine if this is the right time to buy or sell for you.
We review the pros and cons of real estate apps and look at the new KW app.
My KW.com app.
Everyone has an App these days. Banking, social media and even your favorite restaurants all have apps. They are convenient ways to stay connected and offer many conveniences. So when it comes to real estate Apps which one is best?
There are many large real estate websites that all have apps. And most of them work very well. Apps like Realtor.com, Zillow, Trulia etc. provide similar home search functions and capabilities. They are connected to GPS so when you are driving around or walking around you simple open your app and you’ll see all the homes for sale around you. You’ll also see photos, prices and details.
Here is the biggest problem with these apps… they are not connected to a local agent. These apps are not connected to a local real estate expert who is looking out for your needs and best interest. So if you have a question or want more details on a property you may be connected to the listing agent but most of the time you’ll be sent to an agent who has paid to advertise on the app that may know nothing about the property at all.
My app also has a map function where you can draw the area you are interested in and it will pull up all available homes.
So what’s the best real estate app? Mine of course! My KW app allows my clients and friends and family to have all the features and benefits of the big name real estate apps with a connection to a local agent who is looking out for your best interest. My app works nationwide. And if you’re looking at home outside of my area of coverage I can connect you with a local agent anywhere in the country through our network of over 150,000 highly trained agents.
For 2019 our app will be totally redesigned with direct connection to every Multiple Listing Service in the country we will have the most accurate data for our customers. If you would like a great real estate app connected with a great real estate agent download my free app now. When the new version of the app is released your app will automatically be uploaded to the new version. Click here to download now or Text KW2JXSUJJ to 87778.
Best wishes, Matt
In this video I answer one of the most common questions I get. Should I wait until Spring to buy or sell a home.