Monday, June 27, 2011

Adult Community Sold Profile

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®

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