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Elliman Report: Manalapan, Hypoluxo Island & Ocean Ridge Sales 4Q 2019

There was a noticeable pattern of lower sales across a region that is already characterized by limited turnover. Sales have averaged 15.6 per quarter over the past five years, so the 8-sale total in the current quarter injected volatility into the results. The number of sales fell 33.3% from the year-ago quarter for the second straight quarterly decline. Listing inventory slipped 1.4% to 73 for the third consecutive quarterly decline. In aggregate, the average size of a single-family sale surged…

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Housing Notes by Jonathan Miller

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