This chart displays the sales and inventory of Homes in all of the Adult Communities in Ocean County, NJ.Â The high-lighted area focuses on the first quarter of 2011.Â As we can see, sales dipped in February but rebounded strongly in March.Â Both of these factors could be attributed to a â€œsnowierâ€ than usual January in 2011. The most significant factor to observe is the â€œMonths Inventoryâ€, which SOLD OFF 3 months worth of supply of homes in one single month (March)!
Notice the major differences, between this year and last, are the number of sales in January of this year (137 over 115) and the HUGE DIP in the â€œMonths Inventoryâ€ in March of last year.Â The latter is because we were entering the lastÂ 2 months of the â€œExtended Home-Buyer Tax Creditâ€ here in Ocean County.Â So, even with the Federal Government offering between $6,500 and $8,000 to home-buyers of Adult Communities at this time last year, Ocean County isÂ 29 sales ahead of last year!Â Why?
As we can easily see, there was a SURGE in sales UNDER $100,000 in the Adult Communities of Ocean County in the first quarter of 2011!Â There were also significant increases in sales between $350,000 and $450,000.
In a nutshell; without the artificial demand created by the â€œExtended Home-Buyer Tax Creditâ€, home prices in the Adult Communities have depreciated to levels that have made them attractive to two â€œdistinctâ€ classes of retirees.Â Remember, beginning January 1, 2011; 10,000 â€œBaby Boomersâ€ turn 65 each and every day, and will do so for the next 19 years! Obviously, they are finding what they want, need and can AFFORD in the Adult Communities of Ocean County, NJ.