The 2011 Real Estate Market as of December 1st

The November sales statistics are in, and we now have 11 full months which we can compare to the same period in 2010. Breaking it down town by town, here are the numbers:

Town Type Year Closed Median $ % Change
Fair Haven SF 2010 52 657,500
2011 69 648,000 -1.4%
Little Silver SF 2010 72 550,000
2011 57 480,000 -12.7%
Little Silver Con 2010 13 570,000
2011 17 515,000 -9.6%
Monmouth Beach SF 2010 26 911,250
2011 26 796,250 -12.6%
Monmouth Beach Con 2010 29 380,000
2011 30 290,000 -23.7%
Oceanport SF 2010 44 487,500
2011 47 471,000 -3.4%
Red Bank SF 2010 58 375,000
2011 41 324,500 -13.5%
Red Bank Con 2010 28 258,250
2011 39 190,000 -26.4%
Rumson SF 2010 81 1,175,000
2011 94 1,132,500 -3.6%
Sea Bright SF 2010 7 1,600,000
2011 9 595,000 -62.8%
Sea Bright Con 2010 19 429,000
2011 15 329,000 -23.3%

As you can see, the median price of single-family homes has decreased in every town. The smallest decrease (1.4%) was in Fair Haven, followed by a 3.4% decrease in Oceanport and a 3.6% decrease in Rumson. Median prices of single family homes Little Silver, Monmouth Beach and Red Bank decreased by 12.7%, 12.6%and 13.5% respectively. To me, there were too few sales of single family homes in Sea Bright to draw any meaningful conclusions.

Median prices of condominiums decreased in all of our local towns, with Little Silver losing only 9.6%, but Monmouth Beach, Red Bank and Sea Bright condos decreasing by 23.7%, 26.4% and 23.3%.

In the next week or two we’ll look at what happened in each town quarter by quarter.

Leonard “Len” Dunikoski, SRES
Realtor Associate
Diane Turton Realtors- Rumson Office
8 West River Road
Rumson, NJ 07760
(732) 530-6686 (office)
(732) 239-0739 (cell)

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This entry was posted in Fair Haven NJ Real Estate, Jersey shore, Little Silver Homes Sold, Oceanport Real Estate, Real Estate, Rumson NJ Real Estate, Rumson-Fair Haven and tagged , . Bookmark the permalink.

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