Our Summary report of the Broad Atlantic County Market includes Single Family Residential Homes and Condominium Homes.  Excluded from the date are Multi-Family, Commercial and Land Transactions.

At a Glance, 1Q17 is UP 18% in terms of Total Transactions Year over Year.  There were more sales in the First Quarter of 2017 than any other Q1 dating all the way back to 2006! 

In addition, the First Quarter Historically Represents just under 20% of the total sales for the calendar year.  At the current pace, Atlantic County is poised to see more sales take place since pre-bubble.


2014
2015
2016
2017
First Quarter Sales
552
620
779
919
% Change y/o/y
-less than 1%
+12%
+26%
+18%
Total Year Sales
2813
3399
4210
4837*
1Q Sales as Percentage of Total Year
20%
18%
19%
*Projected Pace

Median Sales Price

Median Sales Price took another sharp decline across the broad market.  However, Median sales price was influenced by the sharp increase in the number of Bank Foreclosed sales.  The Number of Sales of Bank Owned Properties in 1Q17 represented 27% of all sales.  This was an increase in bank owned sales of 47% year of year for the First Quarter.  The Result was a decline in Median Sale Price of 8% Year of Year.


First Quarter
Number of First Quarter Sales
Median Sale Price
2017
919
$135,900
2016
779
$147,500
2015
620
$173,750
2014
552
$166,700
2013
554
$174,950
2012
571
$193,000
2011
488
$188,500
2010
518
$199,000

 The Bank Owned Impact

While the increase in Bank Owned inventory certainly positively increased the number of total sales for the First Quarter, it also negatively impacted the Median Sales Prices Countywide.  The is identified when we separate the Bank Owned Sales from the Non-Distressed Sales for the First Quarter in Atlantic County.

First Quarter
Number of Bank Owned Sales
Percentage of Total Sales
Median Sale Price of Bank Owned
Median Sale Price of Non-Distressed
2017
249
27%
$77,000
$210,000
2016
169
22%
$85,000
$200,000
2015
71
11%
$93,299
$220,000
2014
47
7.5%
$110,000
$200,000
2013
31
5.5%
$112,799
$202,000
2012
37
6.5%
$161,500
$220,000
2011
65
13.3%
$123,000
$225,000
2010
54
10.4%
$175,750
$221,000

For a Detailed Look at Your Southern New Jersey Community, View our Town Details Portion:

1Q17 MARKET UPDATE - Southern New Jersey Town Details

Sales in Atlantic County in the First Quarter Hit the Highest Level and are off to the fas...

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Data Source is Sales Reported to South Jersey Shore Regional MLS.