ESOU CES REAL ESTATE BROKER THE RESOURCES REPORT Monmouth County Real Estate Market Report 3rd Quarter 2014 THE RESOURCES REPORT
Apr 06, 2016
E S O U C E SR E A L E S T A T E B R O K E R
the RESOURCESreport
Monmouth CountyReal Estate Market Report3rd Quarter 2014
the RESOURCESreport
Thomas McCormackManaging Partner - [email protected]
I for one am sorry to see the passing of this recent summer season… truly it was one of my favorite summers since moving here from NYC almost 15 years ago. And perhaps instead of actively pursuing a new home, too many would-be buyers found themselves heading to the beach, biking in Hartshorne Woods or enjoying the endless schedule of food festivals, outdoor concerts and other events that make living in Monmouth County such a pleasure.
Whatever the cause, we found 3rd quarter Monmouth County single-family home sales were somewhat lackluster with 9 out of 12 towns in our market survey showing fewer sales than 3rd quarter last year. Indeed, overall Monmouth County single-family unit sales are down 5.75% year-to-date. On a brighter note, the county’s median sale price for the 12-month period ending in September was almost 4% higher than the same period in the previous year so homeowner equity continues to rebound from the hit taken during the recession. Despite what we are seeing elsewhere in the market at large, we’re proud to report that Resources sales year-to-date are up over 77% over last year for our listing clients.
I hope you enjoy reviewing this edition of our market report and encourage you to forward any questions you may have about the market regardless of whether you have any immediate plans to make a move. We enjoy providing a clear and independent focus on our local market.
Tom
(* For the 12 month period ending with third quarter 2014.)
Writing this from Boston at the Who’s Who in Luxury Real Estate annual Fall conference, where we are excited to be nominated in seven categories:Best Website
Best Website, Best Digital Marketing, Best Brand Integration, Extraordinary Philanthropist, Outstanding Social Media Savvy, Best Overall Marketing Package, Most Innovative Marketing Technique.
Every time I come to a conference I realize how much I can learn each day by asking questions. Even though I have been in the real estate business for 28 years, I still love learning. SO much has changed since I started Resources Real Estate in 2000, the technology especially. Thank goodness I enjoy learning, because in the Instagram, Twitter, Pinterest world that we live in these have been invigorating marketing avenues to market our listings and deliver our quarterly market report and our digital magazine. Exciting as it is to institute new technologies in our business — it still comes back to quality of service. The outcome of the transaction to the satisfaction of our clients. That will never change.
Looking forward to pumpkins, hot chocolate and nights in front of the fire in the coming months (albeit on my computer ) and look forward to sending you the final report for 2014. Please feel free to contact me directly [email protected] if you have any question about the report or to research your town.
Carolynn
Carolynn Ozar-DiakonBroker - Senior [email protected]
resourcesrealestate.com cover image mobile website: bit.ly/445drivewayocp
QuARTERLY REPORT2013 2014
1st Qtr 2nd Qtr 3rd Qtr 4th Qtr 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr
AtlAntic HigHlAnds
Number of Sales 6 14 14 19 9 10 18
Days on Market 223 106 90 116 105 176 52
Average Price $805,555 $656,374 $385,187 $475,960 $341,014 $488,902 $462,361
Median Price $765,000 $542,350 $396,042 $404,133 $330,250 $412,792 $338,500
Highest Price $1,150,000 $1,480,488 $745,000 $1,280,000 $510,000 $1,087,500 $1,475,000
colts neck
Number of Sales 21 31 47 25 22 22 39
Days on Market 105 134 115 134 155 79 74
Average Price $786,751 $951,222 $783,952 $852,680 $681,766 $781,278 $1,078,418
Median Price $634,375 $855,500 $673,150 $735,833 $572,283 $702,500 $725,000
Highest Price $2,200,000 $3,750,000 $2,450,000 $1,765,000 $1,800,000 $1,580,000 $5,400,000
FAir HAven
Number of Sales 16 23 39 30 19 31 23
Days on Market 93 74 85 71 105 53 101
Average Price $647,638 $932,338 $703,259 $919,854 $884,601 $778,042 $784,716
Median Price $586,763 $711,500 $692,333 $711,500 $691,166 $691,333 $723,333
Highest Price $1,352,000 $3,300,000 $1,479,000 $3,600,000 $2,250,000 $2,725,000 $2,250,000
Holmdel
Number of Sales 22 38 58 38 21 37 43
Days on Market 117 105 70 92 75 91 79
Average Price $716,528 $828,609 $718,749 $757,560 $750,407 $707,379 $759,902
Median Price $610,816 $698,500 $648,500 $694,167 $687,650 $642,417 $696,333
Highest Price $1,750,000 $2,582,200 $1,852,150 $2,750,000 $1,400,000 $2,017,500 $2,267,582
mobile website: bit.ly/35columbusdr
resourcesrealestate.com
QuARTERLY REPORT2013 2014
1st Qtr 2nd Qtr 3rd Qtr 4th Qtr 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr
little silver
Number of Sales 13 32 33 13 10 21 20
Days on Market 95 94 45 39 46 67 64
Average Price $577,394 $632,942 $726,596 $630,041 $601,875 $623,314 $814,755
Median Price $561,667 $586,067 $611,721 $521,750 $616,167 $590,833 $765,666
Highest Price $1,100,000 $1,575,000 $1,800,000 $1,670,000 $1,137,500 $1,170,000 $1,659,000
long BrAncH
Number of Sales 19 36 38 29 27 30 40
Days on Market 115 128 119 85 152 124 146
Average Price $262,542 $277,010 $365,869 $302,180 $261,630 $293,631 $247,886
Median Price $217,083 $240,500 $257,500 $248,300 $253,333 $282,800 $256,666
Highest Price $1,187,500 $750,000 $1,220,295 $1,500,000 $484,000 $1,850,000 $3,051,000
middletown
Number of Sales 103 163 208 148 77 166 185
Days on Market 87 99 67 77 91 89 66
Average Price $397,076 $441,599 $495,838 $450,906 $422,157 $471,400 $453,989
Median Price $355,600 $397,500 $416,333 $425,000 $374,667 $370,000 $422,000
Highest Price $1,352,000 $2,725,000 $6,100,000 $1,325,000 $1,835,000 $5,125,000 $2,700,000
monmoUtH BeAcH
Number of Sales 4 5 15 13 5 12 6
Days on Market 73 113 109 131 83 53 55
Average Price $865,500 $863,100 $597,694 $900,311 $1,042,708 $919,103 $893,722
Median Price $963,000 $863,100 $426,500 $862,207 $1,096,875 $782,083 $804,833
Highest Price $1,315,000 $1,275,000 $1,800,000 $1,575,000 $2,125,000 $2,175,000 $1,575,000
mobile website: bit.ly/52riverdale
resourcesrealestate.com
QuARTERLY REPORT2013 2014
1st Qtr 2nd Qtr 3rd Qtr 4th Qtr 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr
oceAnPort
Number of Sales 12 9 16 14 8 19 12
Days on Market 100 61 64 109 143 71 74
Average Price $396,075 $377,097 $526,507 $489,233 $579,000 $503,472 $523,015
Median Price $372,167 $350,750 $382,417 $443,500 $510,917 $400,833 $533,166
Highest Price $699,900 $770,000 $2,400,000 $805,000 $1,250,000 $1,950,000 $980,000
red BAnk
Number of Sales 14 21 18 20 6 18 15
Days on Market 201 105 90 57 46 81 55
Average Price $251,867 $475,638 $497,644 $527,553 $426,583 $351,073 $382,985
Median Price $264,583 $365,667 $388,000 $446,683 $422,166 $340,000 $387,666
Highest Price $535,100 $2,550,000 $1,650,000 $2,281,700 $724,000 $760,000 $785,000
rUmson
Number of Sales 20 32 38 38 17 31 30
Days on Market 93 87 86 79 115 86 71
Average Price $1,271,269 $1,063,287 $1,444,824 $1,178,908 $1,056,945 $1,202,513 $1,486,825
Median Price $1,095,833 $857,417 $1,358,417 $855,166 $1,127,500 $980,833 $1,467,500
Highest Price $3,034,000 $3,175,000 $3,200,000 $5,600,000 $2,125,000 $3,550,000 $3,125,000
sHrewsBUry
Number of Sales 6 8 12 10 5 9 17
Days on Market 86 150 63 89 154 53 59
Average Price $348,944 $653,633 $425,450 $664,436 $638,333 $460,711 $592,920
Median Price $328,500 $667,250 $444,167 $664,150 $640,000 $484,000 $566,750
Highest Price $490,000 $960,000 $515,000 $875,000 $950,000 $837,000 $982,500
resourcesrealestate.com
mobile website: bit.ly/135bingham
resourcesrealestate.com
mobile website: bit.ly/112lippincottANNuAL REPORT
2012 2013%
Change
monmoUtH coUnty
Number of Sales 4601 5192 13
Days on Market 107 91 -15
Average Price $472,637 $480,350 2
Median Price $371,875 $384,188 3
Highest Price $7,300,000 $6,425,000 -12
FAir HAven
Number of Sales 91 108 19
Days on Market 90 79 -12
Average Price $735,940 $805,139 9
Median Price $698,833 $667,000 -5
Highest Price $3,500,000 $3,600,000 3
Holmdel
Number of Sales 150 156 4
Days on Market 118 92 -22
Average Price $678,630 $757,940 12
Median Price $643,212 $658,500 2
Highest Price $1,975,000 $2,750,000 39
2012 2013%
Change 2012 2013%
Change
AtlAntic HigHlAnds
Number of Sales 45 53 18
Days on Market 107 120 12
Average Price $434,129 $522,798 20
Median Price $345,396 $420,000 22
Highest Price $1,650,000 $1,480,488 -10
colts neck
Number of Sales 87 124 43
Days on Market 117 121 3
Average Price $889,336 $831,089 -7
Median Price $672,345 $672,500 0
Highest Price $4,450,000 $3,750,000 -16
Monmouth County Price Comparisons
mobile website: bit.ly/108heulitt
resourcesrealestate.com
ANNuAL REPORT
2012 2013%
Change
little silver
Number of Sales 67 91 36
Days on Market 106 75 -29
Average Price $564,014 $670,679 19
Median Price $514,270 $555,000 8
Highest Price $1,800,000 $1,800,000 0
long BrAncH
Number of Sales 90 122 36
Days on Market 167 117 -30
Average Price $254,966 $311,803 22
Median Price $205,000 $236,000 15
Highest Price $1,900,000 $1,500,000 -21
middletown
Number of Sales 526 624 19
Days on Market 89 80 -10
Average Price $450,668 $456,357 1
Median Price $374,937 $399,250 6
Highest Price $7,300,000 $6,100,000 -16
monmoUtH BeAcH
Number of Sales 46 37 -20
Days on Market 135 119 -12
Average Price $879,905 $766,947 -13
Median Price $851,079 $634,000 -26
Highest Price $1,620,000 $1,800,000 11
2012 2013%
Change
oceAnPort
Number of Sales 58 51 -12
Days on Market 116 84 -28
Average Price $452,924 $446,027 -2
Median Price $394,500 $375,000 -5
Highest Price $1,200,000 $2,400,000 100
red BAnk
Number of Sales 58 74 28
Days on Market 80 109 36
Average Price $339,447 $435,018 28
Median Price $301,245 $333,500 11
Highest Price $1,640,000 $2,550,000 55
rUmson
Number of Sales 101 129 28
Days on Market 128 80 -38
Average Price $1,287,289 $1,280,255 -1
Median Price $1,171,833 $1,070,000 -9
Highest Price $4,090,000 $5,600,000 37
sHrewsBUry
Number of Sales 48 36 -25
Days on Market 88 87 -1
Average Price $503,429 $501,629 0
Median Price $481,950 $480,500 0
Highest Price $1,300,000 $960,000 -26
E S O U C E SR E A L E S T A T E B R O K E R
112 East River Road 36 Beach Rd Suite 3 4A West Front St 65 First AveRumson, NJ 07760 Monmouth Beach, NJ 07750 Red Bank, NJ 07701 Atlantic Highlands, NJ 07716
732-212-0440 resourcesrealestate.com
Information deemed reliable but not guaranteed. Data as of 10/7/14.Copyright 2014 by the Monmouth County Association of REALTORS®
mobile website: bit.ly/135emount
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