June closed the first half of the year with a positive outlook for Ocean County’s housing market, and July has continued the steady upward trend, according to the Ocean County Board of Realtors. Home values are continuing to rise and prospective home buyers are making more money to keep up with the housing market.

The Single Family Home market saw 1,122 new listings in July of 2014 and 1,160 in July of 2015, resulting in a 3.4% increase in the number of new listings. Single family homes saw a 25.8% increase in the number of closed sales, from 497 closed sales in July 2014 to 625 in July 2015. Adult communities also saw a 2.9% rise in the number of new listings—in July of 2014, there were 441 new listings, while July of 2015 saw 454 new listings. Adult communities had 305 closed sales in July 2014 and 311 in July of 2015, resulting in a 2.0% increase. Townhouse-condos saw a 4.4% decrease in the number of new listings, from 137 in July 2014 to 131 in July 2015. Closed sales for townhouse-condos increased by 49.1%, from 53 in July 2014 to 79 this July. The total market saw a 1.8% increase in the number of new listings, from 1,787 new listings to 1,820. Closed sales for the total market increased by 18.2%, from 877 in July 2014 to 1,037 in July 2015.

Townhouse-condo sellers, after an average of 104 days on the market, reported receiving 94.9% of the original asking price. After an average of 72 days on the market, adult community home sellers received 95.6% of the original asking price. Single family home sellers reported receiving 95.6% of the original asking price after an average of 93 days on the market. The total market reported receiving 95.4% of the original asking price after an average of 91 days on the market.

The total market reported that the affordability index reached 180 for July 2015, which means individuals are making an average of 1.8 times the amount needed to afford a home with the July 2015 median sales price $231,450.

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