MONMOUTH COUNTY ANALYSIS OF CLOSED ADULT COMMUNTIES
AS REPORTED THROUGH THE MLS BY YEAR SINCE 2006 TO 2010
It’s time to tackle the Adult Community Market. Construction of these homes had been going up like no tomorrow. There were so many Adult Communities of all different price ranges from affordable to the luxury market. The over 55 demographics growing faster, the income greater in some cases, builders couldn’t build enough of them. Then the recession hit us and even those homes have been lingering unsold, dropping in prices with many seniors opting to leave the state because of the excessive cost of living. This market still had a Rocky Road but sales went up in 2010 most likely influenced by the tax credits offered to buyers. Even with that incentive prices on the low end and Luxury high end came down quite a bit since 2006. Look and see how this market has fared through the last five years.
January 1, 2006 – December 31, 2006
Status Total Avg Price Median Low High Avg DOM
CLS 360 $281,997 $219,500 $20,000 $1,150,000 66
January 1, 2007 – December 31, 2007
Status Total Avg Price Median Low High Avg DOM
CLS 387 $289,320 $235,000 $19,000 $1,350,000 105
January 1, 2008 – December 31, 2008
Status Total Avg Price Median Low High Avg DOM
CLS 384 $259,077 $187,500 $25,000 $786,843 108
January 1, 2009 – December 31, 2009
Status Total Avg Price Median Low High Avg DOM
CLS 386 $225,821 $188,950 $19,900 $800,000 117
January 1, 2010 – December 31, 2010
Status Total Avg Price Median Low High Avg DOM
CLS 449 $255,235 $215,000 $10,000 $619,000 101
This CMA is not an appraisal and should not be considered the equivalent of an appraisal.
--Information deemed reliable but not guaranteed--Copyright: 2011 by the Monmouth County Association of REALTORS®
Prompt, Professional and Personalized Service. Call me direct 732-684-1559 or email lucyk@remax.net. Check out my website, www.RealEstateLu.com for more great information.
--Information deemed reliable but not guaranteed--Copyright: 2011 by the Monmouth County Association of REALTORS®
Prompt, Professional and Personalized Service. Call me direct 732-684-1559 or email lucyk@remax.net. Check out my website, www.RealEstateLu.com for more great information.