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Sea Isle City Real Estate Market: Is the Sea Isle Real Estate Market Changing?

Posted on Monday, December 12th, 2022

4914 Landis Ave Sea Isle City, NJ 08243 Direct: 609 263 1431 Office: 609 263 2267
Sea Isle City Market Update:
Will 2023 will be similar to 2008?
During the last housing market correction, the surge in subprime lending led to unprecedented numbers of homeowners ending up under water on their loans. This caused the property sale inventory to increase, partly due to foreclosures and short sales flooding the market. Consequentially, with the added inventory property prices fell by 30% or more in some places.
However, the situation as we move into 2023 is differentThe lending practices are much stricter than 15 years ago. The extreme seller’s market, due to the pandemic, allowed homeowners to build an extreme amount of equity in their properties. This may be an indication that the market will not become flooded with foreclosures and short sales. Presently, the property inventory situation is still at historically low levels and holding value.
Mortgage rates continue to move down. The 30-year fixed jumbo mortgage rate ($726,201 and above) is 5.75%.
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Sea Shore Team of Long and Foster RANKED #1 with OVER $95 MILLION in
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A Huge Thank You to Our Clients and Colleagues who helped us reach this Level Of Achievement!
We Sincerely Appreciate your Business and Partnership!
The SeaShore Team of Long and Foster Real Estate, Inc of Sea Isle City - continues to be Sea Isle City’s Highest Producing Real Estate Team. The Sea Shore Team’s success of Selling and Renting over $95 Million a Year is a result of the Service and Commitment to their Clients. The members of this team are experts in the community, offering valuable insight and understanding to the Buying, Selling and Renting Experience often connecting with their clients beyond the sale who highly recommend them.
Contact us today and let us put our Knowledge and Expertise to Work for You!
Seashore Team of Long & Foster Real Estate
4914 Landis Avenue, Sea Isle City, NJ 08243 | 609.263.1431 | 609.263.2267 |
If your property is currently listed with another broker, please consider this informational and not a solicitation.