Hot market? These NJ shore homes sold for $200,000 over asking price
Last year's red-hot housing market created some conditions not often seen in real estate.
People selling homes in the always-trendy Jersey Shore housing market benefitted greatly from that market trend. Some home sellers really benefitted.
Realtor Magazine says it's not unusual for potential buyers to offer a little more than the asking price if they really like a property in such a competitive market.
Some real estate professionals suggest offering 1% – 3% more than the asking price to make the offer competitive, while others suggest simply offering a few thousand dollars more than the current highest bid.
This is the story of one Jersey Shore town that had three homes sell for over $200,000 more than the asking price in 2021. That's 10 to 15% above the asking price!
That town is Ocean City, NJ.
HOUSE ONE: 244 Cresent Ave., Ocean City
This four-bedroom/three-bath home is in the very desirable Ocean City Gardens neighborhood. The real estate ad bragged of the home's tremendous curb appeal, spaciousness, tasteful interior, and stylish restorations. The home's list price was $1,295,000. It sold for $1.5 million, $205,000 over the asking price.
HOUSE TWO: 500 Seacliff Road, Ocean City
This Ocean City single home is also in Ocean City's Gardens. The buyers must have loved this luxurious home on a 70-by-100 corner lot with 5 bedrooms & 3.5 bathrooms. They paid $2,200,000 for the home in July 2021 — $201,000 more than the listing price.
HOUSE THREE: 8 Grenada Lane, Ocean City
This bayfront four-bedroom, four-bath home has an upside-down, open floor plan with vaulted ceilings, skylights, beautiful hardwood floors and designer touches throughout. The house sold in July 2021 for $2,200,000. That was $200,005 above the asking price.
Here's a photo gallery of these three beautiful homes.