Ocean City NJ Real Estate Listings & Homes for Sale

Jersey City is a top choice for real estate investors seeking a rewarding purchase. The city's diverse housing options, robust job market, and high quality of life make it a magnet for both tenants and property owners.

Due to limited land and a denser population, constructing a home in NJ is more expensive than in other areas. Building a house in New Jersey typically ranges from $250 to $650 per square foot, depending on the specific features and finishes you choose.

Ocean City's cost of living is significantly higher than the state and national averages. It's 20% more expensive than the New Jersey average and a whopping 45% higher than the national average. Housing costs are particularly elevated, reaching 150% above the national average. Despite this, the average household income in Ocean City is substantial at $112,837, with a relatively low poverty rate of 8.83%.

According to real estate experts, New Jersey's rapid housing price increases of recent years are expected to slow down in 2024. The market is predicted to stabilize as falling interest rates encourage more homeowners to put their properties up for sale, ultimately balancing out prices.

Absolutely! At the moment, the number of buyers in the New Jersey housing market is significantly lower than the available supply of homes. The high interest rates have deterred buyers, reducing the chances of bidding wars. With the expected stabilization of mortgage rates in 2024, more buyers are likely to re-enter the market. Therefore, it might be a good idea to consider purchasing a house now.