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Market Stats for Ocean Twp Condos: June-August 2021

It has been another strong month of sales for condos and townhomes in Ocean Township but not breaking sales records when compared to the prior two months. Inventories are still anemically low with demand far exceeding supply. June and July closed record-breaking sales in both Cotswold ($430k) and Hidden Meadows (480k). August closed a couple of homes near the record highs.

June 2021

2 New Condo Listings
3 Condos Under Contract

4 Condos Sold
Average Days on Market: 5 Days

Cotswold on the Green: $385,000 – $430,000
Hidden Meadows: $412,500 – $478,000

July 2021

2 New Condo Listings
2 Condos Under Contract

2 Condos Sold
Average Days on Market: 8 Days

Cotswold on the Green: $410,000
Hidden Meadows: $480,000

August 2021

1 New Condo Listing
2 Condos Under Contract

2 Condos Sold
Average Days on Market: 10 Days

Manor at Wayside: $390,000
Hidden Meadows: $465,000

As you can see above, the early summer market was very strong and has peaked in late July/early August. Listings are down and days on the market are increasing. Still, inventory remains at historic lows which does still favors the seller. Bidding wars are still commonplace but from what our team has seen, there are definitely fewer offers on the individual homes. Our listing in June broke a sales record with 13 offers in a week. Our latest sale was still quite high but only received 5 offers (all within 2 days on the weekend).

As we continue through the Fall to Winter, I expect less demand (mostly because people get busy with the holidays).

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