Tuesday, February 3, 2009

Monthly Market Report for Toms River, NJ-January 2009

Toms River, NJ, Monthly Market Report (January 2009)

January 2009 saw an increase in buyer activity after a dismal December 2008! Apparently, the First Time Homebuyer finally accepted the fact that mortgage rates were not going to get much lower, despite what some of the National Media had misreported in December. Unfortunately, January's numbers reflect the fear and uncertainty felt by the American Consumer in November and December. We'll have to wait and see in the next two months, how many buyers actually came off the fence in January!

Compared to the same time last year in Toms River, NJ (January 2008 vs January 2009):

Sales of Single Family Homes were down from 60 to 49
The Average Sales Price was down from $310,261 to $300,244
Days on the market remained steady at 102 to 105
The Sales Price to List Price Ratio fell from 95% to 92%

There was, however, an INCREASE in activity in ONE PARTICULAR category; Sales of Single family Homes in the $200,000 to $250,000, INCREASED by 50% over the same time last year (from 6 to 9)!

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