Somers Point, NJ Foreclosures
How much do homes sell for in Somers Point, NJ?
The average home price is currently $448,968.
In Somers Point, NJ, how many homes are available?
There are currently 116 active home listings available in Somers Point.
What’s the average rental cost in Somers Point, NJ?
The average rental price in Somers Point is $1,630.
What is the most expensive home in Somers Point?
The most expensive home sold in Somers Point had a price of $21,199,716.
What is currently the cheapest priced home in Somers Point, NJ?
The cheapest home for sale in Somers Point is priced at $33,706.
Living in Somers Point, NJ
Somers Point, NJ is a delightful waterfront community known for its scenic beauty, rich history, and vibrant local culture. With excellent schools, ample outdoor activities, and a variety of dining and shopping options, it's a perfect place for families and individuals looking for a peaceful yet engaging lifestyle. Its proximity to Atlantic City adds to the allure, offering entertainment while maintaining a relaxed atmosphere.
Current Market Conditions in Somers Point, NJ
Somers Point has seen a steady rise in property values over the past year, indicative of a strong demand for housing in this area. The combination of desirable location, waterfront property, and community amenities make it an attractive market for buyers. Inventory remains relatively low, creating competitive bidding situations for desirable homes. Buyers are frequently seeking seasonal homes or investment properties, further boosting the market.
In the past month, the real estate market in Somers Point has remained active, with several homes being sold above asking price. This trend can be attributed to the increased interest in coastal districts as more people are looking to relocate after remote work avenues opened up opportunities for flexible living situations. Though there is some concern about rising interest rates, the demand continues to stay consistent.
Home Value Estimator For Somers Point, NJ
There are currently 4,268 real estate properties
in Somers Point, NJ,
with a median automated valuation model (AVM) price
of $404,180.00. What is an AVM? It is
a smart computer program that analyzes and predicts the approximate value of a home,
property or land in Somers Point, NJ, based on current market
trends, comparable real
estate sales nearby, historical data and, of course, property features, among other
variables. These automated home estimates are often very helpful, providing buyers
and
sellers with a better idea of a home’s value ahead of the negotiation process. For
example,
the average home price in Somers Point, NJ,
is $448,968.00, with the most expensive house
in Somers Point, NJ, topping out
at $21,199,716.00 and the cheapest home
in Somers Point, NJ,
clocking in at $33,706.00. In other words, there’s
something for every potential homebuyer
or savvy investor in Somers Point, NJ!
Rent Prices
In Somers Point, NJ
With the expiration of certain local, state and federal housing-related restrictions
and
mandated programs, the rental market in Somers Point, NJ, is on
a rollercoaster ride. The
average rent price in Somers Point, NJ,
is $1,630.00. Indeed, when looking to rent in
Somers Point, NJ, you can expect to pay as little
as $830.00 or as much
as $2,940.00,
with the average rent median estimated to
be $1,600.00. The good news is that finding
an affordable and desirable property to rent in Somers Point, NJ
-- whether it’s apartments,
townhomes, condominiums or single-family homes -- is made easier with knowledge of
the
local market and, of course, a little patience.
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