By Gary Simmens
Broker /Associate at Keller Williams Atlantic Shore Realtors
Known for its annual popular Bayfest in the spring season, bayfront dining and beach concerts in the summer, the city of Somers Point is surrounded by Ocean City, Egg Harbor township and Linwood. Somers Point has been an increasing choice of second home buyers, especially those who want to enjoy the boardwalk and beach of nearby Ocean City. Just before the “corona virus pandemic” started very recently, the market was really starting to heat up, with multiple offers going on and homes moving quicker compared to last spring which was the best in over 10 years for sellers. The median sales price of homes has gone up 11.5% from 2018 to 2019 year for single family homes, and days on the market have gone down 29.6% for much faster sales. The condo townhouse segment saw a nice 37.1 % jump in much shorter marketing time and less days on the market. The most expensive single-family home to sell last year sold for $1.1 million. The 3400 square foot luxury home was appointed with 5 Bedrooms and 3.5 baths on the water in the Anchorage Point area, along with a 50-foot boat slip.
The city of Somers Point has been aggressive with making improvements to roadways in the last few years. It enhanced the lifestyle of health minded people who love the outdoors. For this reason, homes are always in demand near the bike path and bay area. Locals love cycling or walking, crabbing, fishing over the scenic 9th street bridge to Ocean City, NJ. Shore Medical Center has been the main employer and has expanded with major improvements over the years near the bay area. Two large grocery stores, many retail stores, top restaurants and vibrant bar scene attract folks from the entire region.
Somers Point’s location off the Parkway surrounded by fabulous waterways has helped them earn and deserve their slogan” The Shore Starts Here!”. Interest rates are extremely low now, and prices stable, with creates a great time for investing in real estate.
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