Barnegat Housing Market Trends May 2019

Market Trends

Barnegat Home Sales Price Up Over 12% in the Last 24 Months

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, February, March and April is up slightly, pending homes (sold, yet to close) are up significantly in comparison to the same time in 2018  Reminder: over 600 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 limited look at the Barnegat Real Estate Market since we are only looking at the first 4 months of the year)

•          Median List Price: Up 0.50%

•          Median Sale Price: Down 7.45%

•          Median Days on Market: 56 (# of days on market before property sells)

•          Sold Listings: 139, Up 7.8%

•          Pending Sold Listings: Up 16.0%

•          Active Listings: Down 7.2%

•          New Listings: Down 7.1%

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

•          Estimated Home Values: Up 4.89%

•          Sales Price: Up 12.16%

•          List Price: Up 14.11%

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 downturn in the next 12 months, 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