Monday, April 6, 2009

March Madness, in real estate, in Toms River, NJ

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

March by the numbers:

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

• $372,063 Average LIST price for March*

• $348,028 Average SALES price for the month*

• 116 Average DAYS ON the MARKET for March

• 93.54% The SALES price to LIST price RATIO for the month

• 722 Number of Single Family Homes ACTIVE on the market in March

• 20.62 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!

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

March, 2009, saw 35 Single Family Homes CLOSE in Toms River, as compared with 58 in March of 2008. Of those 35 homes, 14 were in the price range of $200,000 to $250,000 (17%). Combined with the CLOSINGS from January and February 2009, this represents an increase in SALES of 37%, in this particular price range, over the same time last year!

Tomorrow, I will post the same breakdown as last month; as to what percentage of these SALES were “distressed” properties (bank owned and/or short sales).

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