The number of units sold increased in the South Jersey Shore real estate market in June, 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 compiled from data from residential real estate transactions within specific geographic regions, not just Long & Foster sales.

 

When compared to the same month in 2014, the number of units sold in the South Jersey Shore region increased. Cape May County experienced an 11 percent jump and Atlantic County saw a 2 percent increase. Median sale prices in the area stayed the same or fell compared to June 2014, with no change seen in Atlantic County, and a 10 percent decline in Cape May County.

Active inventory varied in the region when compared to year-ago levels. In Cape May County, active inventory decreased by 13 percent, while it increased by 11 percent in Atlantic County. In Atlantic County the days on market (DOM) average was 117 days, followed by Cape May County with a DOM average of 192 days.

“The United States’ economy has been doing well this year, and as of June, consumer confidence has remained up 16 percent over last year. This positivity has shown in the real estate market, including in the south Jersey Shore region, where we saw an increase in the number o fhomes sold,” said Jeffrey S. Detwiler, president and chief operating officer for The Long & Foster Companies. “Many industry experts are predicting rising interest rates in the fall, and I’m optimistic that the second half of 2015 will bring more improvements.”

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.