Berkeley Township Adult Communities- 1st Quarter Market Update

In August 2005, the Ocean County housing market began a price readjustment stimulated by double digit inflationary prices for the 5 years prior. The effect of this was decreasing prices, an increasing inventory of homes for sale, longer days on the market and stronger buyer negotiations. We believe by mid-summer, prices should reflect a stable holding pattern and by 2008, should begin to see a modest appreciation of homes based on 2007 prices. With inventory still adjusting to this downturn in the market, correct pricing is crucial to attract potential buyers. Buyers continue to appreciate upgrades of newer windows, neutral décor and a very clean, well maintained appearance.
Spring is the best season to list your home for sale. Curb appeal is enhanced by flowering trees and shrubs and the feeling of optimism surrounds us. If you are thinking of selling, call to discuss a comprehensive marketing plan including extensive internet exposure and Crossroads’ proven sale strategies.


Holiday City

Berkeley- Closed 25 Low $117,000 High $310,000
Carefree- Closed 12 Low $134,000 High $194,000
Holiday Heights- Closed 10 Low $155,000 High $319,000
South- Closed 16 Low $147500 High $225,000
West- Closed 12 Low $110,000 High $388,000

Compared to the first quarter of 2006 with 103 sales, the market has slowed by 25%+. The average days on the market have lengthened from 68 in ‘06 to 87 in ‘07.

Silver Ridge Park

East- Closed 3 Low $110,000 High $155,000
North- Closed 4 Low $175,000 High $217,000
West- Closed 9 Low $126,775 High $210,000
Westerly- Closed 7 Low $125,000 High $219,000

Average days on the market has gone from 74 in ’06 to 105 in ’07. Average sales price in ’06 was $185,539, $169,000 in “07.

Available For Sale By Model on March 28, 2007
Sarasota 18 homes, Lakeview 83 homes, Sussex 19 homes,
Monterey 3 homes, Manhattan 6 homes, Chatham 10homes,
Shoreview 21 homes, Castle Harbor 23homes, Rochester 2 homes
Capri 45 homes, Yellowstone 36 homes, Yorkshire 20 homes,
Greenwich 2 homes, Lexington 7 homes, Glen Ridge 5 homes

A total of 297 Holiday City Homes For Sale
A total of 65 Silver Ridge Park Homes For Sale