the
RESOURCES
report
Monmouth County Real Estate Market Report 4th Quarter 2014
ESOU CES R E A L E S TAT E B R O K E R
I am happy to say that I got an early start on 2015 as I was in Australia for New Year’s. It was a great way to start and I was able to visit several real estate offices there and in LA on my way back to beautiful Monmouth County. As much as I love travel, meeting new people and seeing new sights, I never cease to marvel at the beauty of our area. The ice on the river reflecting the sunshine as I come across the Oceanic Bridge is breathtaking. When I meet with other innovative brokers from around the globe I always marvel at the similarity of our passions, and commitment to client loyalty. Our ability to move quickly with the market benefits our clients. Our willingness to try “out of box” thinking is apparent in our International Innovative Marketing Award and the fact that we are shamelessly copied by other agencies in Monmouth County. If imitation is the sincerest form of flattery, then a big thank you to........................!!! Carolynn
Carolynn Ozar-Diakon Broker - Senior Partner carolynn@resourcesrealestate.com
I won’t lie: winter is not my favorite season. Maybe it’s a function of age. Maybe it’s the result of getting tackled face down in a snow bank by our oversized St Bernard, Gretchen, when I was a kid. I’m not sure. Let’s just say I moved to the shore because it reminds me of summer even when there’s snow on the ground. I guess it’s all a matter of perspective. Understanding where we are in the market is also sometimes about perspective: 2014 Monmouth County single-family sales were down 2.9% at year-end but that was a great improvement over being down 5.75% just three months prior ~ an improvement, yes, but still less than impressive at this point in the “recovery”. More definitively positive is the fact that the median sale price in 2014 was up 3% from 2013. Clearly we at Resources are finding a way to rise above the fray with our single-family unit sales up 64% in 2014. Our ongoing commitment to technology continues to produce results with more and more consumers accessing our touch screen window displays. And our commitment to having Exceptional Agents has resulted in hiring some of the best agents in our local market. We present this market report in the hope that it satisfies a need for clarity and perspective. If you have specific questions about your market area or about our report, please let us know. We’re happy to help. Tom
Thomas McCormack Managing Partner - Broker tom@resourcesrealestate.com
(* For the 12 month period ending with fourth quarter 2014.)
res ou rc esre a le st a te. c om
cover image mobile website: bit.ly/atlhighlandswaterview
mobile website: bit.ly/459locustpoint
Quarterly Report 2013 1st Qtr
2014
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
4
Days on Market
223
106
90
116
105
176
52
131
Average Price
$805,555
$656,374
$385,187
$475,960
$341,014
$488,902
$462,361
$494,874
Median Price
$765,000
$542,350
$396,042
$404,133
$330,250
$412,792
$338,500
$389,750
$745,000
$1,280,000
$510,000
Highest Price
$1,150,000 $1,480,488
$1,087,500 $1,475,000
$999,999
Colts Neck Number of Sales
21
31
47
25
22
22
39
35
Days on Market
105
134
115
134
155
79
74
75
Average Price
$786,751
$951,222
$783,952
$852,680
$681,766
$781,278
$1,078,418
$751,557
Median Price
$634,375
$855,500
$673,150
$735,833
$572,283
$702,500
$725,000
$630,000
Highest Price
$2,200,000 $3,750,000 $2,450,000 $1,765,000 $1,800,000 $1,580,000 $5,400,000 $1,900,000
Fair Haven Number of Sales
16
23
39
30
19
31
23
20
Days on Market
93
74
85
71
105
53
101
75
Average Price
$647,638
$932,338
$703,259
$919,854
$884,601
$778,042
$784,716
$837,650
Median Price
$586,763
$711,500
$692,333
$711,500
$691,166
$691,333
$723,333
$783,750
Highest Price
$1,352,000 $3,300,000 $1,479,000 $3,600,000 $2,250,000 $2,725,000 $2,250,000 $1,500,000
Holmdel Number of Sales
22
38
58
38
21
37
43
35
Days on Market
117
105
70
92
75
91
79
106
Average Price
$716,528
$828,609
$718,749
$757,560
$750,407
$707,379
$759,902
$793,439
Median Price
$610,816
$698,500
$648,500
$694,167
$687,650
$642,417
$696,333
$675,000
Highest Price
$1,750,000 $2,582,200 $1,852,150 $2,750,000 $1,400,000 $2,017,500 $2,267,582 $2,000,000
re source sre al es tate. co m
mobile website: bit.ly/80seneca
Quarterly Report 2013
2014
1st Qtr
2nd Qtr
3rd Qtr
4th Qtr
1st Qtr
2nd Qtr
3rd Qtr
4th Qtr
Number of Sales
13
32
33
13
10
21
20
15
Days on Market
95
94
45
39
46
67
64
67
Average Price
$577,394
$632,942
$726,596
$630,041
$601,875
$623,314
$814,755
$885,000
Median Price
$561,667
$586,067
$611,721
$521,750
$616,167
$590,833
$765,666
$660,000
Little Silver
Highest Price
$1,100,000 $1,575,000 $1,800,000 $1,670,000 $1,137,500 $1,170,000 $1,659,000 $2,450,000
Long Branch Number of Sales
19
36
38
29
27
30
40
34
Days on Market
115
128
119
85
152
124
146
115
Average Price
$262,542
$277,010
$365,869
$302,180
$261,630
$293,631
$247,886
$305,461
Median Price
$217,083
$240,500
$257,500
$248,300
$253,333
$282,800
$256,666
$282,500
Highest Price
$1,187,500
$750,000
Number of Sales
103
163
208
148
77
166
185
151
Days on Market
87
99
67
77
91
89
66
77
Average Price
$397,076
$441,599
$495,838
$450,906
$422,157
$471,400
$453,989
$414,826
Median Price
$355,600
$397,500
$416,333
$425,000
$374,667
$370,000
$422,000
$366,100
$1,220,295 $1,500,000
$484,000
$1,850,000 $3,051,000
$870,000
Middletown
Highest Price
$1,352,000 $2,725,000 $6,100,000 $1,325,000 $1,835,000 $5,125,000 $2,700,000 $1,300,000
MONMOUTH BEACH Number of Sales
4
5
15
13
5
12
6
14
Days on Market
73
113
109
131
83
53
55
122
Average Price
$865,500
$863,100
$597,694
$900,311
$1,042,708
$919,103
$893,722
$1,046,696
Median Price
$963,000
$863,100
$426,500
$862,207
$1,096,875
$782,083
$804,833
$975,000
Highest Price
$1,315,000 $1,275,000 $1,800,000 $1,575,000 $2,125,000 $2,175,000 $1,575,000 $1,637,500
res ou rc esre a le st a te. c om
mobile website: bit.ly/277prospect
Quarterly Report 2013
2014
1st Qtr
2nd Qtr
3rd Qtr
4th Qtr
1st Qtr
2nd Qtr
3rd Qtr
4th Qtr
Number of Sales
12
9
16
14
8
19
12
16
Days on Market
100
61
64
109
143
71
74
75
Average Price
$396,075
$377,097
$526,507
$489,233
$579,000
$503,472
$523,015
$450,531
Median Price
$372,167
$350,750
$382,417
$443,500
$510,917
$400,833
$533,166
$368,500
Highest Price
$699,900
$770,000
$2,400,000
$805,000
$980,000
$1,025,000
Number of Sales
14
21
18
20
6
18
15
12
Days on Market
201
105
90
57
46
81
55
92
Average Price
$251,867
$475,638
$497,644
$527,553
$426,583
$351,073
$382,985
$336,791
Median Price
$264,583
$365,667
$388,000
$446,683
$422,166
$340,000
$387,666
$329,750
Highest Price
$535,100
$724,000
$760,000
$785,000
$500,000
OCEANPORT
$1,250,000 $1,950,000
RED BANK
$2,550,000 $1,650,000 $2,281,700
Rumson Number of Sales
20
32
38
38
17
31
30
30
Days on Market
93
87
86
79
115
86
71
59
Average Price
$1,271,269 $1,063,287 $1,444,824 $1,178,908 $1,056,945 $1,202,513 $1,486,825 $1,292,716
Median Price
$1,095,833
Highest Price
$3,034,000 $3,175,000 $3,200,000 $5,600,000 $2,125,000 $3,550,000 $3,125,000 $4,300,000
$857,417
$1,358,417
$855,166
$1,127,500
$980,833
$1,467,500 $1,022,000
Shrewsbury Number of Sales
6
8
12
10
5
9
17
11
Days on Market
86
150
63
89
154
53
59
64
Average Price
$348,944
$653,633
$425,450
$664,436
$638,333
$460,711
$592,920
$583,772
Median Price
$328,500
$667,250
$444,167
$664,150
$640,000
$484,000
$566,750
$550,000
Highest Price
$490,000
$960,000
$515,000
$875,000
$950,000
$837,000
$982,500
$750,000
re source sre al es tate. co m
mobile website: bit.ly/atlhighlandswaterview
ANNUAL Report 2013
2014
% Change
Monmouth County Price Comparisons
MONMOUTH COUNTY Number of Sales
5192
5036
-3
Days on Market
91
80
-12
Average Price
$480,350
$507,047
6
Median Price
$384,148
$399,000
4
Highest Price
$6,425,000 $7,500,000
2013
2014
17
% Change
2013
2014
% Change
Fair Haven
Atlantic Highlands Number of Sales
53
41
-23
Number of Sales
108
93
-14
Days on Market
120
91
-24
Days on Market
79
74
-6
Average Price
$522,798
$470,923
-10
Average Price
$805,139
$827,075
3
Median Price
$420,000
$369,000
-12
Median Price
$667,000
$700,000
5
0
Highest Price
Highest Price
$1,480,488 $1,475,000
$3,600,000 $2,725,000
-24
HOLMDEL
Colts Neck Number of Sales
124
118
-5
Number of Sales
156
147
-6
Days on Market
121
82
-32
Days on Market
92
86
-7
Average Price
$831,089
$863,951
4
Average Price
$757,940
$748,302
-1
Median Price
$672,500
$683,750
2
Median Price
$658,500
$680,000
3
44
Highest Price
Highest Price
$3,750,000 $5,400,000
res ou rc esre a le st a te. c om
$2,750,000 $2,263,582
-18
mobile website: bit.ly/112lippincott
Annual Report 2013
2014
% Change
2013
2014
% Change
Oceanport
Little SIlver Number of Sales
91
67
-26
Number of Sales
51
57
12
Days on Market
75
60
-20
Days on Market
84
87
4
Average Price
$670,679
$756,579
13
Average Price
$446,027
$506,890
14
Median Price
$555,000
$670,000
21
Median Price
$375,000
$410,000
9
36
Highest Price
Highest Price
$1,800,000 $2,450,000
$2,400,000 $1,950,000
-19
Red Bank
LONG BRANCH Number of Sales
122
132
8
Number of Sales
74
51
-31
Days on Market
117
125
7
Days on Market
109
65
-40
Average Price
$311,803
$278,456
-11
Average Price
$435,018
$374,631
-14
Median Price
$236,000
$267,000
13
Median Price
$333,500
$335,000
0
Highest Price
$1,500,000
$870,000
-42
Highest Price
$2,550,000
$785,000
-69
rumson
middletown Number of Sales
624
581
-7
Number of Sales
129
108
-16
Days on Market
80
76
-5
Days on Market
80
76
-5
Average Price
$456,357
$447,072
-2
Average Price
$1,280,255 $1,285,986
0
Median Price
$399,250
$388,000
-3
Median Price
$1,070,000 $1,130,000
6
-16
Highest Price
$5,600,000 $4,300,000
-23
Highest Price
$6,100,000 $5,125,000
Shrewsbury
monmouth beach Number of Sales
37
37
0
Number of Sales
36
42
17
Days on Market
119
84
-29
Days on Market
87
76
-13
Average Price
$766,947
$983,860
28
Average Price
$501,629
$561,559
12
Median Price
$634,000
$850,000
34
Median Price
$480,500
$550,000
14
21
Highest Price
$960,000
$982,500
2
Highest Price
$1,800,000 $2,175,000
re source sre al es tate. co m
mobile website: bit.ly/40navesink
Portfolio Homes
magazine
Resources Real Estate’s new quarterly interactive digital magazine with local lifestyle features, interviews with local design & build professionals, and, of course, some of the most beautiful homes currently available. If you would like to receive Portfolio Homes, please send your email address to PortfolioHomes@resourcesrealestate.com. Contact Deirdre Smith at 732-212-0440 x300 for advertising information.
View Portfolio Homes Here
ESOU CES R E A L E S TAT E B R O K E R
732-212-0440 112 East River Road Rumson, NJ 07760
resourcesrealestate.com 36 Beach Rd Suite 3 Monmouth Beach, NJ 07750
4A West Front St Red Bank, NJ 07701
Information deemed reliable but not guaranteed. Data as of 1/7/15. Copyright 2015 by the Monmouth County Association of REALTORSÂŽ
65 First Ave Atlantic Highlands, NJ 07716