Atlantic City, NJ - Local Housing Data - Summary

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Atlantic City, NJ

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Atlantic City, NJ Local News

  • The Smartest People Move ... Period

    The Atlantic CityLab staffer Eric Jaffe looks at a new analysis from University of Helsinki psychologist Markus Jokela that finds that higher intelligence is linked with rural-to-city migration, and with city-to-suburb movement. Translation: "I think, therefore I move," we think.

  • Building and Buying in the Country's Richest Counties

    A closer look at the housing markets making up America's top 10 richest counties. Based on the building and buying in what are mostly booming submarkets, it looks like status quo for builders to follow the money, especially if it's federal.

  • 1Q14 DC Metro Area Housing Market Analysis

    According to the Metrostudy first-quarter market survey, the Northern Virginia, DC, and Suburban Maryland submarkets held steady in the first-quarter of 2014 despite low numbers in job growth across several counties.

New Home Sales and Prices Fall in Atlantic City According to Latest Data

Posted on: Jul 06, 2014 07:02:14 AM

In the Atlantic City, NJ market, closings of new homes sank year-over-year in April, falling after a rise in March 2014. New home closings moved from 15 a year earlier to 8 after the figure moved from 11 in March 2013 to 14 in March 2014.

A total of 204 new homes were sold during the 12 months that ended in April, down from 211 for the year that ended in March.

New home closings were 8 out of the 264 total closings, down on a percentage basis from 15 of 298 a year earlier. Following a year-over-year decline in March, closings of new and existing homes also dropped year-over-year in April.

Pricing and Mortgage Trends

The average per-unit price of new homes was $210,594, compared with $232,615 last year. This came after a 12.9% boost in March year-over-year.

Average mortgage size on new homes moved from $217,545 to $215,964. Average mortgage size on new homes went from $244,500 in March 2013 to $222,253 in March 2014.


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