How's the Market in Toms River, NJ, this week (Aug 27th, 2010)?

How's the real estate market in Toms River, NJ, for the week of August 27th, 2010? As the saying goes, "All real estate is LOCAL" and despite the dismal headlines last week, sales of Single Family Homes in Toms River continue to surpass our neighbors! It is still a phenomenal "Buyer's Market" with an abundance of inventory, low home prices and record low mortgage rates. As long as new listings continue to outpace the number of homes absorbed (sold), the market will favor the buyer and it looks as if this "Extreme Buyer's Market" will be here a while. Let's take a look at ALL of the Toms River zip codes which includes South Toms River, Holiday City Berkeley and Pine Lake Park (Note; Altos Research does not distinguish between Single Family Homes and Adult Communities):



Fortunately, the Condo Market in Toms River was stable this week, with the same number of homes coming on the market as those selling off(2). Tighter lending requirements and competition from the Single Family Home Market will continue to weaken the Condo Market, in Toms River, for the foreseeable future:



As far as prices in Toms River go, we are experiencing a steep decline in prices due to the "Post Tax Credit Affect"; without the artificial demand created by the Tax Credit, the Law of Supply and Demand has resumed it's natural course of action and the result is diminishing home prices. This "affect" was not unexpected and prices are expected to continue to diminish as we enter the last third of the year:



So, "How's the Market in Toms River, NJ"? If you are in the market to buy a home, "it just doesn't get much better than this!" If you MUST sell your home, PRICE IT RIGHT now as prices WILL continue to fall. If you WANT to sell but don't HAVE TO sell, take your home OFF the market and allow your neighbor to MOVE ON with their lives. That's how the market is in Toms River, NJ, this week!

How's the Market in Manchester, NJ, this week (Aug 27th, 2010)?

How's the real estate market in Manchester, NJ, for the week of August 27th, 2010? As the saying goes, "All real estate is LOCAL" and despite the dismal headlines last week, sales of Single Family Homes in Manchester appear to be stabilizing in certain price ranges. It is still a "Buyer's Market" with an abundance of inventory, lower home prices and record low mortgage rates. Let's take a look (Note; Altos Research does not differentiate between Single Family Homes and Adult Community Homes):



Fortunately, the Condo Market in Manchester appears to be stabilizing as 5 units sold in the last week and only 1 new unit came on the market:



Home prices appear to be stabilizing, across the board, in Manchester, over the last 6 months:



So, "How's the Market in Manchester, NJ"? If you are in the market to buy a home, don't wait too long as it appears home prices may be stabilizing! If you MUST sell your home, price it right now as prices may begin to fall again in the fall? If you WANT to sell but don't HAVE TO sell, take your home off the market and allow your neighbor to MOVE ON with their lives. That's how the market is in Manchester, NJ, this week!

How's the Market in Island Heights, NJ, this week (Aug 27th, 2010)?

How's the real estate market in Island Heights, NJ, for the week of August 27th, 2010? As the saying goes, "All real estate is LOCAL" and despite the dismal headlines last week, sales of Single Family Homes in Island Heights appear to be stabilizing, in certain price ranges. It is still a "Buyer's Market" with an abundance of inventory (33 is an abundance in Island Heights), lower home prices and record low mortgage rates . Let's take a look:



Fortunately, the Condo Market in Island Heights is specific and stable; there is only one community. There are currently 3 units on the market with no new sales and no new listings:



As far as prices in Island Heights go, we are experiencing a steeper decline in the higher price points while the lower end (under $400,000) appears to be stabilizing:



So, "How's the Market in Island Heights, NJ"? If you are in the market to buy a home, "it just doesn't get much better than this!" If you MUST sell your home, price it right now as prices will continue to fall. If you WANT to sell but don't HAVE TO sell, take your home off the market and allow your neighbor to MOVE ON with their lives. That's how the market is in Island Heights, NJ, this week!

How's the Market in Brick, NJ, this week (Aug 27, 2010)?

How's the real estate market in Brick, NJ, for the week of August 27th, 2010? As the saying goes, "All real estate is LOCAL" and despite the dismal headlines last week, sales of Single Family Homes in Brick appear to be stabilizing. It is still a phenomenal "Buyer's Market" with an abundance of inventory, low home prices and record low mortgage rates but sales outpaced new listings in Brick last week. Let's take a look:



Unfortunately, the Condo Market in Brick was not as fortunate this week, with more homes coming on the market than those selling off. Tighter lending requirements and competition from the Single Family Home Market will continue to "soften" the Condo Market in Brick for the foreseeable future:



As far as prices in Brick go, we are experiencing a steep decline in prices due to the "Post Tax Credit Affect"; without the artificial demand created by the Tax Credit, the Law of Supply and Demand has resumed it's natural course of action and the result is diminishing home prices. This "affect" was expected and prices are expected to continue to diminish as we enter the last third of the year:



So, "How's the Market in Brick, NJ"? If you are in the market to buy a home, "it just doesn't get much better than this!" If you MUST sell your home, price it right now as prices will continue to fall. If you WANT to sell but don't HAVE TO sell, take your home off the market and allow your neighbor to MOVE ON with their lives. That's how the market is in Brick, NJ, this week.

Housing Market Trends in Toms River, NJ, for the week of August 20th, 2010