Barnegat Housing Market Trends March 2019

Market Trends

Barnegat Home Values Up Almost 7%

The Barnegat housing market has reached a “neutral state.” Median list price is marginally up for the start of the year, but median sale price has dropped slightly. While the total number of  homes sold in January and February has declined slightly, pending homes (sold, yet to close) are up significantly in comparison to January and February of 2018  Reminder: over 550 Barnegat homes have sold in the last 12 months!

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Barnegat Housing Market Summary: Year to Date Comparison: (Note – this is a very limited look at the Barnegat Real Estate Market since we are only looking at the first 2 months of the year)

•          Median List Price: Up 0.04%

•          Median Sale Price: Down 13.63%

•          Median Days on Market: 60 (# of days on market before property sells)

•          Sold Listings: 49, Down 5.8%

•          Pending Sold Listings: Up 20.0%

•          Active Listings: Up 3.6%

•          New Listings: Up 35.8%

Barnegat Market Activity: The Market Activity Report is a snapshot of all the changes in a local real estate market over the last 24 months

•          Estimated Home Values: Up 6.98%

•          Sales Price: Up 28.18%

•          List Price: Up 10.06%

Bottom Line: The above statistics point to a “neutral” or “balanced” market - the number of buyers and sellers in the marketplace are equalized. The scales don't tip in either direction, meaning the market is normal without experiencing volatile swings.

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Important Note: Economists seem to think there may be a recession in late 2019 or early 2020, so if you are thinking of selling, NOW may be the time!!

If you have any questions, please contact me at your convenience. Karl Hess provides expert real estate services to residential buyers and sellers in Barnegat and the surrounding communities. Contact us today for more information on Barnegat Real Estate and for professional assistance navigating this complex home market.

As always, thank you for your time and feel free to get in touch if you have any questions. Karl Hess, Your Realtor on The Jersey Shore in Ocean County