Thursday, October 1, 2009

Monthly Real Estate Market Report for Toms River, NJ – September 2009

September 2009 MARKED the 3rd consecutive month that sales of single family homes, in Toms River, NJ, exceeded the same month of the previous year! Given the fact that this past September also MARKED the one year anniversary of the collapse of FREDDIE MAC and FANNIE MAE, we must acknowledge the influence of the $8,000 Tax Credit for "First Time Home Buyers", despite what some political pundits may believe!

September by the numbers:

• 61 The number of Single Family Homes CLOSED during the month

• $364,011 Average LIST price for September*

• $342,037 Average SALES price for the month*

• 96 Average DAYS ON the MARKET for September

• 93.96% The SALES price to LIST price RATIO for the month

• 754 Number of Single Family Homes ACTIVE on the market in September

• 12.36 Number of MONTHS it would take to SELL OFF the existing supply of homes on the market, in Toms River, at this rate, if NONE were to come on the market!

September 2009, saw 61 Single Family Homes CLOSE in Toms River, as compared with 59 in September of 2008 (a slight increase but an increase none-the-less)! THIS MARKS THE THIRD MONTH IN A ROW; WHERE SALES HAVE SURPASSED THE SAME MONTH OF THE PREVIOUS YEAR! Of those 61 homes, 24 were in the price range of $200,000 to $299,999 (39%). Combined with the CLOSINGS from the First 3 Quarters of 2009, this represents an INCREASE in SALES of 38%, in this particular price range, over the same time last year!

*These averages include Single Family Homes from the beach communities of Ortley, Normandy and Ocean, etc.

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