Most realtors agree that the best time to purchase a home in Ocean City, NJ is the fall. The summer vacationers have cleared out, and tired landlords are ready to sell. You are more likely to get a home for below the asking price during the autumn when many people’s thoughts have turned from the beach and toward the holidays.
It is also a lot easier for realtors to show you homes when they are not filled up with renters. Realtors have more time available for you because their schedules are not filled up by vacationers dreaming of owning their own home on the shore.
Ocean City real estate market trends
According to realtor.com the average price for homes in OCNJ is on the rise, while inventory is decreasing. From September 2015 to September 2018, the number of properties on the market in Ocean City, NJ has decreased by 37%. The average list price has increased by more than 5% in the past year.
Get the best prices on homes in the fall
While fall is the best time to purchase a home if you’re looking for the best price, late winter/early spring is the better time if you are looking for the greatest selection. There are more people selling their homes knowing that this is the time of year potential buyers are looking ahead to summer. The increase in buyers, also means that sellers are more likely to get their full asking price. Since 2015, March has been the month with the most properties on the market in Ocean City, NJ.
Why Ocean City New Jersey is popular
Ocean City, NJ is the perfect spot for a family vacation home. Since OCNJ is a dry town, there won’t be late night parties to keep the kids awake at night. Ocean City prides itself on offering wholesome family fun. Voted America’s #1 Beach by Coastal Living in 2016, Ocean City offers nostalgia for all ages. Shriver’s has been offering the taste of vacation with its fudge and taffy for 120 years. There’s an intergenerational vacation memory! Playland’s Castaway Cove offers the triple launch Gale Force roller coaster for the thrill seekers in the family. And the beach itself offers wholesome family fun. Head to the beach on the Saturday before Labor Day to see if one of your children or grandchildren can be crowned King or Queen of Plop. In this Ocean City style end of summer tradition, children take turns falling onto the sand. These aren’t ordinary falls, though. They have been planned and choreographed, all in an effort to be awarded the crown at the end of the competition. To be King or Queen of Plop would be quite the addition to an “all about me” poster at back to school night.
With interest rates on the rise again, in addition to increasing list prices, now is the time to get the best price for a beach house in Ocean City, New Jersey. Imagine putting a beach house under the tree! That would be a holiday season not quickly forgotten. in summary, the perfect time to buy is when you're savings are in check and you are emotionally ready for a beach home. The time of year will always have pros and cons. Contact Chris Pustizzi at 609-741-1156 for any of your real estate questions or needs.