Berkeley Housing Sales Down 13.24 Percent, Housing Study Finds

Thinking about selling your Berkeley Township home soon?

You may want to wait.

Housing sales over since 2008 in Berkeley have dropped 13.24 percent since 2010. NJ Spotlight took a look at sale prices in New Jersey towns and the news is not good for most of us.

Berkeley residents were already suffering when the Great Recession hit in 2008. But Superstorm Sandy hit housing sales hard. Many of the waterfront and bayfront homes in Berkeley were heavily damaged or destroyed by the monster storm that roared ashore on Oct. 29, 2012.

And some residents are still not home. Others threw up their hands and walked away or tore down their homes and rebuilt. Berkeley's tax ratable base is still not up to what it was before the storm or tore there homes down.

The township's median home value is $172,300.

Berkeley is almost two towns. The Bayville section on the eastern side - especially on or near the waterfront - has higher home listings. The western side of the township had most of the senior citizen communities, homes you can buy for less or sell for less.

The median decline in residential values in New Jersey was close to 11 percent, according to the 2015 American Community Survey data released last week and published on NJ Spotlight.

Image: Patch file photo