Metropolitan Statistical Area (MSA):
Vineland-Bridgeton, NJ is a Metropolitan Statistical Area (MSA) comprising counties including .
There is no doubt that the real estate market in the Vineland-Bridgeton, NJ metropolitan statistical area (MSA) has been on a roller coaster ride over the past few years. After reaching record highs in 2006 and 2007, prices came crashing down during the Great Recession of 2008 and 2009. However, since bottoming out in 2010, prices have been steadily rising once again and are now approaching pre-recession levels.
One of the most notable trends in the MSA's housing market is the increasing popularity of "flipping" properties. This is where investors purchase homes at a low price, make some quick renovations, and then sell them for a profit. Due to the relatively low cost of properties in the area, as well as its proximity to larger cities like Philadelphia and New York, flipping has become a very lucrative business venture in recent years.
Another trend that is having an impact on the MSA's housing market is the rise of short-term rentals (STRs). Due to platforms like Airbnb and VRBO, it has become easier than ever for people to rent out their homes or apartments for short periods of time. This has led to an increase in demand for STRs in popular tourist areas like Cape May County.
Overall, it is clear that the real estate market in the Vineland-Bridgeton MSA is heating up once again after taking a hit during the Great Recession. Flipping properties and renting them out short-term have become popular trends among investors, while buyers are increasingly looking to take advantage of historically low interest rates. With prices expected to continue rising in the coming years, now may be a good time to consider investing in this vibrant market.