How’s the Market (in Monmouth County)?

List Your Home with Len Dunikoski

List Your Home with Len Dunikoski

The number one question that REALTORS® are asked is, “How’s the market?”. There are lots of ways to answer that question, and one of the best answers is that it depends whether you’re a Buyer, a Seller or an Investor. There are other good answers as well, and one of them is that all real estate is LOCAL. You can’t read an article in a national newspaper giving statistics for the housing market across the country, because real estate is doing well (i.e., prices are increasing) in some states more than in others. Within a given state you can see some counties that are doing better, and others that are doing worse. The same is true for towns within a given county.

The 2nd quarter statistics are in, and I thought I’d share some of the Monmouth County real estate information with you. I looked at 25 towns in the Eastern part of the county. If we compare the January 1 – June 30 median sales prices of single-family homes for this year to those from 2013, Long Branch has seen the greatest price increase (15.2%) and Eatontown the greatest price decrease (-10.2%). Five of the towns that I follow had fewer than 20 home sales in one or both years, so I didn’t calculate the percentage changes for those towns because I feel those numbers wouldn’t be statistically significant.

Here’s the town by town information for the 25 Monmouth County towns I follow:

Six of the towns saw the median sales price increase by more than 10%, 3 saw increases between 5% and 10%, 6 saw price increases less than 5%, 5 saw median price decreases, and the last 5 had too few sales to calculate a percentage change.

Town Jan 1 – Jun 30 2014
Homes Sold Median Price 
Long Branch 57 $265,000 15.2%
Wall 88 $447,500 14.8%
Little Silver 32 $617,950 12.4%
Fair Haven 50 $678,500 12.1%
Colts Neck 44 $689,850 11.6%
Rumson 48 $1,050,000 10.1%
Oceanport 27 $415,000 9.2%
Tinton Falls 44 $403,700 9.1%
Marlboro 107 $495,500 8.9%
Matawan 26 $312,500 4.2%
Hazlet 77 $285,000 3.6%
Red Bank 24 $337,500 2.3%
Manalapan 114 $456,500 1.4%
Howell 174 $307,500 0.8%
Holmdel 58 $660,750 0.3%
Middletown 241 $375,000 -1.3%
Ocean 77 $350,000 -1.4%
Aberdeen 57 $284,900 -5.0%
West Long Branch 26 $355,500 -6.0%
Eatontown 40 $279,250 -10.2%
Asbury Park 34 $251,800
Atlantic Highlands 19 $375,000
Highlands 16 $217,750
Monmouth Beach 17 $825,000
Shrewsbury 14 $535,000

The bottom line is that real estate is doing very well in some towns and not in others. If you’re thinking of buying a home in Monmouth County, you’ll have to pay more than you would have a year ago in 15 towns but you’ll pay less than you would have in 5 other towns. The old adage about real estate is true: location, location, location.

Len

Dunikoski1212webLeonard “Len” Dunikoski, GRI
REALTOR® Associate
Diane Turton Realtors – Rumson Office
8 West River Road
Rumson, NJ 07760

(732) 239-0739  (cell)    (732) 530-6686 (office)

ldunikoski@dianeturton.com

http://www.rumsonfairhavenhome.com

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