The Monmouth County Real Estate Market

Monmouth County

Although we’re primarily interested in the real estate market in Rumson-Fair Haven, we also look at nearly towns like Little Silver, Shrewsbury, etc. Occasionally it’s good to take a look at an ever bigger area of Monmouth County.

The overall median sales price of Monmouth County residential real estate increased 2.0% between 2014 and 2013, not a very big change. However, there were some real winners and losers. Here’s what happened in 22 Monmouth County towns (Source: Monmouth County MLS):

 

Town                        Sales        2014 Median     2013 Median     % Change

Aberdeen                  195          $265,000              $300,000            -11.7%

Asbury Park              179           $225,000              $250,000            -10.0%

Atlantic Highlands     46           $359,500              $459,000            -13.4%

Colts Neck                 118           $683,750              $572,500                1.7%

Eatontown                139           $263,000              $256,000                2.5%

Fair Haven                   92           $715,000              $667,000                7.2%

Hazlet                         223           $286,000              $270,000                5.9%

Highlands                     81           $195,000              $198,315              -1.7%

Holmdel                     177           $630,000              $587,000                7.3%

Little Silver                   89           $630,500              $532,500             18.4%

Long Branch               258           $317,500              $270,000             17.6%

Marlboro                    452           $435,450              $421,000                3.4%

Matawan                      80           $310,000              $278,750              11.2%

Middletown               726           $350,000              $357,500               -2.1%

Monmouth Beach       79           $485,000              $437,600              10.9%

Ocean                          270           $353,950             $349,000                 1.4%

Oceanport                    66           $400,000              $370,000                 8.1%

Red Bank                    103           $280,000              $302,500                -7.4%

Rumson                      108         $1,130,000          $1,060,000                 6.6%

Shrewsbury Boro        65            $502,248             $458,000                  9.7%

Tinton Falls                242            $286,250             $285,750                  0.2%

West Long Branch     70            $361,500              $346,500                  4.3%

There are a lot of things you can gain from reviewing information like this. For example, you can see that 6 of the 22 towns saw decreases in the median residential sales prices, with Atlantic Highlands seeing the largest decrease (-13.4%). On the other hand, 16 of the 22 towns saw median price increases for residential real estate, with the biggest winner being neighboring Little Silver (+18.4%). Note that 13 of the 22 towns had residential median price increases that were greater than the Monmouth County overall median increase of 2.0%.

Rumson and Fair Haven did quite well, with median increases of 6.6% and 7.2% respectively. The data just reaffirms what we know to be true: all real estate is LOCAL, and you can’t make decisions based on what the national news media report for nationwide trends. If you’re looking to buy a home in a specific town, make sure you work with a local expert who has the specific knowledge you need to find the right property at the right price.

If you’re looking for a home in Morris County or Union County, etc., I’m not the local expert there, and I’d be glad to refer you to a Realtor® who is. However, if you’re looking for a local expert for the Rumson-Fair Haven area, you’ve found the right Realtor®.

Len

#rumsonfairhavenLeonard “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

@ListWithLen

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This entry was posted in Fair Haven NJ Real Estate, Rumson Fair Haven Real Estate Agent, Rumson Fair Haven Realtor, Rumson Homes Sold and tagged . Bookmark the permalink.

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