Beach Home Sales Are Booming During COVID-19 — Now is the Time to Sell!

The Jersey Shore housing market is seeing a surge in demand as city-dwellers are looking to escape the crowded confines of metropolitan and urban areas by moving into the spacious and comfortable suburbs. This comes as no surprise considering the real estate industry has been booming, despite the COVID-19 pandemic, largely due to the fact that mortgage interest rates are the lowest they’ve been in years. Now, homeowners are looking to cash in by taking a trip to the shore and staying there — permanently. 

What Does the Jersey Shore Housing Market Look Like?

Homes are selling quickly! That’s the feedback across all New Jersey mortgage companies. New and existing homeowners are excited to take advantage of the low interest rates, which now sit at a comfortable 3.04 percent for 30-year fixed-rate mortgages and 2.54 percent for 15-year fixed-rate mortgages. 

In fact, the real estate industry as a whole is moving at such an unprecedented rate that prospective buyers are told to put in strong offers and do not hesitate! A home that’s just been put up for sale today may already be under contract tomorrow. That’s how things play out in a seller’s market, where demand is extremely high, yet supply remains low. 

According to New Jersey Realtors, the average sales prices rose by 8.1 percent across all properties in New Jersey, but single-family homes had the best numbers with a 9.0 percent increase. Prospective buyers are willing to pay more to beat the competition and get their hands on the home of their dreams, which gives sellers the upper hand. 

Ocean County, Atlantic County, Cape May County, and Monmouth County saw especially good numbers in the month of July with new listings, closed sales, and median sales prices increasing year-to-date for single-family homes, as well as some townhouse-condo and adult community homes. 

What does it all mean? It means now is the time to sell!

Are You Interested in Selling? We’d Love to Help!

There’s no better time to get a piece of the real estate action if you’re a homeowner who is interested in selling their beach house in New Jersey or any of the surrounding areas. The best part is that you’re not alone! 

Maria Kirk may have been your go-to source for affordable vacation rentals in New Jersey, but she’s also an expert on the real estate industry. As a licensed New Jersey referral real estate agent, Maria has the knowledge and the connections to help you get the most out of your home sale. She works closely with very experienced agents who know the ins and outs of the NJ Shore real estate market, and she would be more than happy to connect you to some of the best agents that she trusts wholeheartedly. She and her team are committed to taking great care of you and making your home selling experience stress-free. 

Learn what your home is worth today by contacting Maria!