OCNJ Market Update - April 10, 2018
The first quarter of 2018 has finished lacking the expectations set from 2017. The slow start to the year was mainly due to the harsh winter that has kept potential buyers at bay and off the island. But do not take this in a negative way, as we are STILL experiencing a very positive market. Numbers are keeping pace, only falling 10 sales short compared to last year's first quarter. Days on market has dropped by 7% and the competitive market has driven the sale-to-list price ratio up to a little better than 95%. The arriving Spring market has increased the listing inventory in Ocean City slightly and the growing amount of pending properties indicates positive signs moving forward. This will continue to increase with the summer season fast approaching.
Want to take advantage of these positive market conditions? Click here for a free property valuation or give us a call direct @ 609.398.9912. You may be surprised to find out the value of your home!
*Market statistics are based on reported listing data in the South Jersey Shore Regional Multiple Listing Service as of 04/10/2018
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