Steven Tupe, Other/Just Looking in Brigantine City, NJ


Asked by Steven Tupe, Brigantine City, NJ Thu Jan 19, 2012

Help the community by answering this question:


Joanne Bernardini’s answer
Sales in Ocean City, NJ are doing well! Smart buyers know that property in a resort town is a good investment. They have been taking advantage of the record breaking low mortgage rates to scoop up good properties they can use for themselves and also rent to others! Ocean City has a fabulous reputation and families return year after year and generation after generation! If you have been "on the fence" as to whether to purchase a home, I encourage you to get off the fence and buy! I would be happy to show you properties in your price range! Whether you are looking for a small condotel or a multi-million dollar beach front , Ocean City has something for everyone! I invite you to start your search on my MLS connect at
Joanne Bernardini
Sales Associate
Keller Williams Oceanside Realty
One Atlantic Avenue
Ocean City, NJ 08226
1 vote Thank Flag Link Mon Jan 30, 2012
Hi Steven. Thanks for the question, it's one that I enjoy answering. The year 2011 was the 2nd consecutive year of increased property sales, Furthermore, Inventory has decreased significantly since the market bubble burst. To me this indicates that the market, actually stabilized in 2008 and 2009 and turned in 2010. The overall average selling price has remained steady for the past few years. Certain niche markets, however, have declined more recently. After all, the average selling price includes anything from a hotel/condo efficiencie under $30,000, up to a multi million dollar luxury property. The "condotel" market is extremely difficult driving prices down and the high end market has taken the biggest hits. The greatest demand is the $400,000 $600,000 range. Feel free to call me on my cell phone anytime 609-665-2031 or email me directly and I would be glad to provide more specific details. You can also visit my web site
0 votes Thank Flag Link Thu Jan 19, 2012
Hi Steven,
Ocean City's real estate market is healthy. We had about 20% more transactions in 2011 than in 2010, and single family homes were the hottest part of the market. About 33% more singles sold in 2011 than in 2010, and condo sales were up about 15%. About 80% of the Ocean City market is condos, mostly in duplex configuration. The developers are starting to buy again, mostly duplex lots, but those looking for more modest single family homes on conforming lots are not yet having to compete with developers.
Our market has been stable for some time with about 1,000 residential properties (condos, singles and multi-family residential properties) on the market at any given time.
If you would like more details, you can e-mail me and I will send you a copy of my latest e-newsletter, with a full summary of market performance by segment for the last 10 years. If you want someone to help you look, I can do that too!

Joan Farrell
Monihan Realty
0 votes Thank Flag Link Thu Jan 19, 2012

Don't want to be difficult but can you be more specific? I'm assuming you are asking about sales in the Ocean City market? I can probably take that answer in ten directions based on specifics but overal we are holding steady. Our average sale price in 2011 of $584K is almost the same as 2010, $585K. We sold 90 more homes in 2011 (743) that we did in 2010 (653). More expensive homes, beach-front and bay-front, continue to adjust while the average homes, $400-$600K seem to be stabilizing. Feel free to call or email me with any additional or more specific questions.

Kevin Redmond
Ocean City Realty
609-513-6220 or
0 votes Thank Flag Link Thu Jan 19, 2012
The Ocean City Real Estate market has enjoyed year over year increases in the number of sales for the years of 2009, 2010, 2011. If you would like me to send you the statistics , I would be glad to do that for you.The rental market is always strong, recession or not.

Rick Adams, REMAX at the Shore
3301 Bay Avenue
Ocean City, NJ 08226
0 votes Thank Flag Link Thu Jan 19, 2012
Ocean City and all surrounding areas are doing well. Contact me on my SELL at 609-972-3628 if you are interested in Selling or Buying a home.
Thanks, Dave Schick
0 votes Thank Flag Link Thu Jan 19, 2012
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