The South Jersey Shore real estate market saw increased home sales in November, 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 last year, the number of units sold in the South Jersey Shore region increased. In Atlantic County, the number of homes sold rose by 15 percent, while Cape May County experienced a 13 percent increase. The median sale price also increased in Atlantic County, rising by 7 percent, although it fell by 8 percent in Cape May County.

In November, Cape May County experienced a 12 percent decrease in active inventory, and Atlantic County saw a 5 percent decline in inventory. The days on market (DOM) average for Atlantic County was 89 days in November, and Cape May County saw a DOM average of 160 days.

“November was another good month for the United States economy, with consumer confidence hitting one of its highest numbers since 2007. In the Mid-Atlantic and Northeast housing market, we saw a number of positive trends as well, including in the South Jersey Shore region,” said Jeffrey S. Detwiler, chief operating officer of The Long & Foster Companies. “Although inventory is still sparse, many people are choosing to buy a home, taking advantage of mortgage rates while they remain low.”

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.