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