: December 2011

Little Egg Harbor NJ - Has the Housing Market Hit Bottom?

Little Egg Harbor NJ - Has the housing Market Hit Bottom?

The housing market in Little Egg Harbor slowed in 2011, and prices decreased.  But the question most asked, "Have we hit bottom?"

First let's look at the figures to date for the Little Egg Harbor Housing Market in 2011.

 Little Egg Harbor - 08087

Ocean County, NJ

 

 Date:

New
Listings

Under
Contract

Expired

Sold

Avg
Sold $

Days on
Market

Median
Sold $

Jan 2011

54

12

41

10

$173,590

227

$180,250

Feb 2011

78

22

22

12

$150,417

121

$138,000

Mar 2011

95

29

33

17

$194,476

160

$187,000

Apr 2011

77

27

28

25

$188,056

220

$173,000

May 2011

85

21

26

22

$210,456

134

$205,000

Jun 2011

53

28

23

26

$184,308

167

$184,000

Jul 2011

56

32

30

27

$216,435

130

$210,000

Aug 2011

54

31

50

15

$151,182

116

$146,500

Sep 2011

55

32

48

21

$202,843

184

$201,800

Oct 2011

57

20

56

24

$171,385

192

$152,500

Nov 2011

55

28

40

20

$164,871

143

$152,900

Dec 2011

30

24

37

15

$191,413

145

$157,000

So in looking at these figures, I'm looking at a reduced sale price range from 2010, but also a decreased number of homes for sale listed on the market in Little Egg Harbor. 

I know it's boring, but take a look at the 2010 figures.

   

 

Activity Date:

New
Listing

Under
Contract

Expired

Sold

Avg
Sold $

Days on
Market

Median
Sold $

Jan 2010

78

31

46

13

$200,388

130

$193,000

Feb 2010

60

21

39

17

$208,018

102

$225,000

Mar 2010

112

33

35

18

$183,250

150

$171,250

Apr 2010

85

34

20

18

$173,528

185

$181,500

May 2010

93

39

50

24

$196,804

101

$206,950

Jun 2010

64

16

35

38

$212,671

133

$212,500

Jul 2010

54

32

65

18

$193,039

138

$170,000

Aug 2010

71

22

53

15

$206,100

155

$185,000

Sep 2010

60

23

61

25

$213,342

158

$210,000

Oct 2010

50

18

62

18

$216,119

110

$204,500

Nov 2010

51

15

39

14

$188,414

159

$150,950

Dec 2010

19

16

37

19

$243,868

126

$250,000

 My read; We're ready for a rebound in real estatesales and prices in Little Egg Harbor, NJ. 

But take note; there will not be the extraordinary yearly/monthly increases in value that we've seen in passed year.  I think there's a leveling going on and we'll see a leveling in property values in 2012, and traditional increases in 2013 along the lines of 3% to 4%.

The unfortunate news for homeowners; that 3% to 4% increase is on your current value...not your assessed value or what you paid for the home.

If you'd like a current assessment of your home’s value Little Egg Harbor REALTOR® Laura Giannotta can provide a Comparative Market Analysis (CMA) to see how your home would be valued if it was for sale.  Or if you’re stay put you might qualify for an appeal of your tax assessment.  No guarantees, but I can provide that information to help YOU make the decision!

Laura Giannotta
Click on any of the links below to:

How to Proceed with a NJ Tax Appeal
Search the Jersey Shore MLS
Find out about buying or selling a home at the Jersey Shore
Contact a Little Egg Harbor REALTOR®

 
 
 
  

     
Comment balloon 2 commentsLaura Giannotta • December 29 2011 02:11PM
Little Egg Harbor NJ - Has the Housing Market Hit Bottom?
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Little Egg Harbor NJ - Has the housing Market Hit Bottom? The housing market in Little Egg Harbor slowed in 2011, and prices decreased. But the question most asked, "Have we hit bottom? " First let's look at the figures to date for… more