It is clear by the comments made by realtors in this week’s News section that Hammonton is experiencing a sellers’ market. That means that people who want to sell their homes will benefit by the high demand for homes in Hammonton.
What’s creating that demand?
There are several factors. Chief among them is that Hammonton has spent the last quarter-century reinvesting whenever and wherever it can locally. It renewed its school district by remodeling, updating or building new schools. It revitalized its downtown through programs like MainStreet Hammonton and the Neighborhood Preservation Program along with a buy-in by residents, business owners and property owners. When that downtown core was revitalized, areas like uptown (the White Horse Pike (Route 30) and Route 206), Little Italy and the business park followed with similar economic development efforts.
While all that was happening, the housing stock was seeing its own turnround, one that drove prices higher. Even with higher prices (or perhaps because of them), the demand for houses only grew.
The novel coronavirus (COVID-19) pandemic became a factor in pushing prices to new heights as well. As people from northern New Jersey and New York as well as the metropolitan Philadelphia area began to search for more wide-open spaces, they chose small, rural towns like Hammonton. That trend has increased, not diminished, in recent months.
Hammontonians who want to sell their homes—and that isn’t a large group right now, although the increasing sales amounts may change some minds in the coming months—should try the market now and see what offers they receive. The realtors we spoke to said inventory is low and demand is high, so it appears there are people waiting to offer Hammonton homeowners significant money for their homes.
If you’re a seller, it’s your market now. Take advantage of the opportunity this sellers’ market presents.