Some complexes are selling well, while others are not. In particular, in Ocean County where there are many 55+ communities, there has been a slow down.
Further north, the 55+ communties are doing better. Select communities are doing very well.
Our slow down came as a result of the halt in downsizing. A few years ago, sellers were cashing out on the sale of their single family homes, socking away $$,a nd paying cash for an adult community property.
Today, sellers sometimes elect to hold tight ini their exisitng homes, awaiting a stronger market in which to sell. Because these sellers do not have to move, there has been a slowdown in some adult communities.
Our beta site is dedicated to this segment of the market.
We are quite commited to serving this market niche and closed on a few properties just last week in adult communites.