By Gary Simmens
Egg Harbor Township, New Jersey, located right in the middle of Atlantic County, NJ, is home to such diversified landscaping, diverse scenic looks, and various home communities: from Harbor Acres, to the Harbor Pines Golf Course community, to Village of Little Mill with 55 plus living, to scenic waterfront homes along the Great Egg Harbor River, to the community of Seaview Harbor which borders Longport, to the area in West Atlantic City area along the Black Horse Pike.
Comparing the year of 2018 to 2019, the statistics show exactly 100 less sold properties in single family homes for 10% less inventory moved, compared to 2018 in Egg Harbor Township. “Days on the market until sold” have improved and gone down to an average of 63 days for an 8.7% improvement. Great news for owners, the median sales price has risen up 12.8% from $195,000 in 2018 to $220,000 for 2019, and the percent of list price received was up some to a solid 97.9%. Months supply of inventory improved to a lower amount of 7.2 months.
The market is very good now and has picked for sellers in the $270,000. and below in E.H.T. and in the first-time home buyers price range. I recently did a two-hour open house on a Saturday for a nice 4 Bedroom, 3 full bath home in E.H.T. that I had listed for $269,750.00. I had a fabulous turn out of 26 different buyer parties, consisting of 63 people total during the two-hour open house. The nice home was priced right and in fabulous condition, and honestly, I have not seen that kind of strong turn out for one home in the mainland area on just a two-hour open house since year 2006. Glad to see the home sold for full price quickly with just seven days on the market.
The townhouse-condo segment showed improvement with more inventory sold, up a strong 29% and closed sales up 6.8%. The adult community 55 plus living segment had the best improvement number overall. New listings were up 34.7% and closed sales year-to-year were up a whopping 51.6%. Ironically, the days on the market for 55 plus sales were slightly up from 50 to 59 days on the market till sold. The median sales price in the 55 plus segment jumped up a healthy 8.9% from $225,000. to $245,000. Also, a good sign in this segment was a vast improvement of 20.5% where the month’s supply of inventory of homes for sale was lowered from 8.3 months to just 6.6.months.
Recently on February 18th, a judge ruled that the waterfront community of Seaview Harbor cannot leave being part of Egg Harbor Township and become a part of Longport, NJ`s tax rolls in the future. This ruling will help keep E.H.T. stable again for property taxes, as it has been for many years as the middle anchor area of Atlantic County.
Gary D. Simmens is a Broker/Associate at Keller Williams Atlantic Shore with over 40 years experience. See more at helpful website : www.GarySimmens.com
