SmartCharts Spotlight: Ocean County, NJ September 2020

Whether they’re buying or selling a home or just want to keep up with their local market to know what their home is worth, your clients rely on you to share your market knowledge. Your access to SmartCharts provides you with the ability to customize market data to meet your client’s needs whether they want regional, county or city data, or want even more specific data about a school district or Zip code. 

To show you how this can work, we’ll look today at the latest data for Ocean County, New Jersey, which has been one of the fastest growing counties in the state since 1990. 

 

Data provided by Bright MLS. 

For the entire county, key metrics for August 2020 show that new pending sales are up, active listings are down and the months’ supply of homes has dipped lower than the five-year average, while closed sales were lower than the five-year average. Like many markets across the country, buyer demand is outpacing the limited number of listings.  

New Listings 

Unfortunately, new listings were also down in August to 453, a 5% drop compared to August 2019. But not every city in the county is the same. In Tuckerton, for example, there were 93 new listings in August, a 19.2% jump over the 78 new listings in August 2019. You can search for new listings by city, Zip code or school district. 

Data provided by Bright MLS. 

New Pending Sales 

New pending sales can be a good gauge of how active a neighborhood is, so while there were 19% more new pending sales in August 2020 compared to August 2019 throughout the county, some areas were particular hot spots. 

For example, new pending sales were up 53.5% in August 2020 compared to August 2019 in Beach Haven, perhaps a reflection of the national trend in interest in buying second homes or even primary homes were buyers can work remotely. Other hot spots in the county include Barnegat, up 54.1% year-over-year, Manahawkin, up 34.1% and Tuckerton, up 20.7%. 

Data provided by Bright MLS. 

Median Sales Price 

Reflecting strong buyer demand and limited homes for sale, median sales prices spiked by 23.2% across Ocean County in August to $328,950, up from $267,000 in August 2019.  

Data provided by Bright MLS. 

Days on Market 

August was truly hot for the housing market with homes selling in a median of 28 days, which was 38 fewer days than the 66 median days on market  in August 2019. Out of the 28 Zip codes in Ocean County, homes sold in less than 45 days in  16 Zip codes. In Ocean Gate, homes sold in as little as a median of 10 days.  

Data provided by Bright MLS. 

Looking for data on a different market? 

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