The South Jersey Shore real estate market saw the number of homes sold increase in April, according to the Long & Foster Market Minute reports. The South Jersey Shore market includes Atlantic and Cape May counties. The Long & Foster Market Minute reports are based on data provided by the South Jersey Shore and Cape May County multiple listing services and their member associations of Realtors and include residential real estate transactions within specific geographic regions, not just Long & Foster sales.

When compared to the same month in 2015, the number of units sold in the South Jersey Shore region increased, rising by 20 percent in Cape May County and 16 percent in Atlantic County.  Median sale prices declined in the area compared to April 2015, with Atlantic County seeing a 4 percent decrease and Cape May County seeing a 6 percent decline.

In Cape May County, active inventory decreased by 9 percent, while it increased by 2 percent compared to the previous year in Atlantic County. The days on market (DOM) average for Atlantic County was 97 days and Cape May County saw a DOM average of 152 days.

“Low inventory is causing frustration for many homebuyers but we are continuing to see some positive trends otherwise, including in the Jersey Shore region,” said Jeffrey S. Detwiler, chief operating officer of The Long & Foster Companies. “Many are seeing home prices increase, which is excellent for those looking to sell, new home sales are high and home improvement stores are reporting strong earnings. With mortgage rates continuing to remain low, we anticipate the market will remain healthy as we move into summer.”

The Long & Foster Market Minute is an overview of market statistics based on residential real estate transactions and presented at the county level. The easy-to-read and easy-to-share reports include information about each area’s units sold, active inventory, median sale prices, months of supply, new listings, new contracts, list to sold price ratio, and days on market. Featuring reports for more than 500 local areas and neighborhoods in addition to more than 100 counties in eight states, The Long & Foster Market Minute is offered to buyers and sellers as they aim to make well-informed real estate decisions.

The Long & Foster Market Minute reports are available at www.LongandFoster.com, and you can subscribe to free updates for the reports in which you’re interested. Information included in this report is based on data supplied by SJS and CMC, which is not responsible for its accuracy. The reports do not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of SJS, CMC or Long & Foster Real Estate.