From the Press of Atlantic City:
Homes sold faster all over South Jersey last month, with the number of closed deals up sharply in most of the region from April 2015.
Atlantic County led the way with an increase of almost 27 percent in completed sales of single-family homes over the year before, but prices continued to drop in the county, according to data from the New Jersey Association of Realtors.
The median price of a single home fell to $168,500 this April, down more than 12 percent from last year.
Cumberland and Ocean counties also saw double-digit increases in their volume of closed sales, with Cumberland’s going up 10.3 percent and Ocean’s up by 13.2 percent.
Cape May County had the smallest increase the number of single-home sales, at 4.4 percent, and prices for those properties dropped by more than 10 percent. The median price went down to $269,000.
But in the category of townhouses and condos, a popular option near the beaches and bays in many of that county’s shore towns, the number of deals was up nearly 35 percent from the year before.
And prices for those places also increased 6 percent, to a median of $429,000, all according to monthly figures from the New Jersey Association of Realtors.