Real Estate Market Look at Somers Point, NJ By REALTOR® Gary Simmens 03-24-2020

Dated: 03/24/2020

Views: 70

Somers Point, NJ--Known for its annual popular Bayfest in the spring season,(which is cancelled this year because of public safety concerns of the corona virus pandemic), bayfront dining and beach concerts in the summer, the city of Somers Point is surrounded by Ocean City, Egg Harbor township and Linwood, NJ.

It has been an increasing choice of second home buyers, especially those who want to enjoy the boardwalk and beach of nearby Ocean City. Just before the "corona virus pandemic" started very recently, the real estate market was really starting to heat up, with multiple offers going on and homes moving quicker compared to last spring which was the best in over 10 years for sellers. The median sales price of homes has gone up 11.5% from 2018 to 2019 year for single family homes, and days on the market have gone down 29.6% for much faster sales. The condo townhouse segment saw a nice 37.1 % jump in much shorter marketing time and less days on the market. The most expensive single family home to sell last year sold for $1.1 million. The 3400 square foot luxury home had 5 Bedrooms and 3.5 baths on the water in the Anchorage Point area, along with a 50 foot boat slip.

The city of Somers Point, NJ has been aggressive with making improvements to roadways in the last few years. Its enhanced the lifestyle of health minded people who love the outdoors. For this reason, homes are always in demand near the bikepath and bay area. Locals love cycling or walking, crabbing, fishing over the scenic 9th street bridge to Ocean City, NJ.  Shore Memorial Hospital has been the main employer and has expanded with major improvements over the years near the bay area.
Somers Point location off the NJ Parkway surrounded by fabulous waterways has helped them earn and deserve their slogan ” The Shore Starts Here! ” Interest rates are extremely low now, and prices stable, with creates a great time for investing in real estate.
See more at: www.GarySimmens.com and if you like, join Facebook Group “South Jersey Shore Living-Community & Real Estate Update

 

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Gary Simmens

Licensed since 18 years young, and a broker honors in NJ since his early 20`s, Gary has now, over 44 years experience, diversified in all aspects in real estate, including owning two offices and ma....

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