The 2011 Ocean City Real Estate Market has been much stronger. Ocean City properties sold and settled through October 31st this year in Ocean City are up 20.3% over the same period last year, while the average price per property of $566,918 is up 1.9% over 2010. Total volume of real estate sold and settled for the 10 months ending October 31st, 2011 was over $352 million while in the same period of 2010 only $287 million of real estate sold and settled; an increase of 22% year over year.
The MILLION DOLLAR and above real estate market in Ocean City real estate has also improved with 51 Ocean City properties sold over $1 million through October 31st, 2011; a total volume of over $82,000,000. During the same period in 2010, 36 properties sold for over $1 million with a total volume of just over $60 million.
Currently interest rates remain near all time lows and prices though generally stable are still very attractive. It remains a BUYER'S market and if you want to catch a great time to buy, normally some of the best values are landed between mid November and the end of December. It always seems that once we reach the New Year, owners start thinking about their upcoming summer and frequently are less willing to negotiate and part with their beach home.
For a larger update on Ocean City, NJ visit of November newsletter - http://campaign.r20.constantcontact.com/render?llr=h4uhokgab&v=001A-vrUR0Y61sJ0pef95TJS0Ux9sX-tFTAgEQyljBJG-w3QQxRBUpr_PeV7hBJuSUm812y6xkvtZ3hwp2_BIlFQcu_in19IMQauPR5eMIvrLo%3D
Sincerely,
Burton F. Wilkins
Broker/Owner
No comments:
Post a Comment