the
RESOURCES
report
Monmouth County Real Estate Market Report 2nd Quarter 2015
ESOU CES R E A L E S TAT E B R O K E R
I am happy to announce that our company single family home sales are up 13.9%. year to date. I believe our continued growth is the result of careful strategic planning, downtown locations, careful hiring and excellent training. We are always mindful of hiring the best and the brightest. We offer training like no other company — in addition to our new agent training, we offer at least two workshops per week. In this beautiful area with access to waterfront living, we are committed to being knowledgeable of the latest rules, regulations and flood maps so our agents and clients are informed. We hire waterfront experts to keep us updated and give us important presentations to our group on a regular basis. Technology is key in today’s real estate business and we are constantly adding innovative products to our arsenal.
Carolynn Ozar-Diakon Broker - Senior Partner carolynn@resourcesrealestate.com
Ethics play an important role in all training and in all our decision making. Perhaps most importantly is the character of our agents and our company culture. I look forward to more growth in the market and the continued growth with Resources Real Estate. Carolynn
In January, summer seemed like a distant dream… and now it’s here. Following a winter that inspired few to venture outside to go buy a house, it came as no surprise that second quarter sales demonstrated an improvement with 75% of the towns in our market report posting higher unit sales and two thirds showing a higher median sale price. Since 2014 sales were pale in comparison to 2013, perhaps that’s not that impressive, but it’s welcome nevertheless. Indeed Monmouth County overall showed increases in both average and median sale prices, continuing a trend over the past few years. Once again we saw how capricious the market can be and how important timing is… Earlier in the season it felt as if someone had flipped the switch to begin the buying season, but by the end of June, while the switch hadn’t been turned off completely, it certainly had dimmed quite a bit. Spring sales saw a rebound of buyers in parts of the market that had been stagnant since mid-2014 but by mid-June much of this contract activity had already tapered off, even while everyone was keeping busy with closings on their early Spring contracts. Of course, summertime is primetime along the beach so we expect to see strong sales along the shore especially as the memory of Superstorm Sandy fades and newly built homes continue to come on the market ready for buyers eager to achieve their dream of a beach house. And with interest rates still low and prices still well under the market peak perhaps it’s time for some dreams to come true. Tom
res ou rc esre a le st a te. c om
Thomas McCormack Managing Partner - Broker tom@resourcesrealestate.com
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Quarterly Report 2014 1st Qtr
2015
2nd Qtr
3rd Qtr
4th Qtr
1st Qtr
2nd Qtr
3rd Qtr
4th Qtr
Atlantic Highlands Number of Sales
9
10
18
4
2
18
Days on Market
105
176
52
131
35
83
Average Price
$341,014
$488,902
$462,361
$494,874
$806,000
$516,588
Median Price
$330,250
$412,792
$338,500
$389,750
$806,000
$445,750
Highest Price
$510,000
$1,087,500 $1,475,000
$999,999
$1,100,000 $1,400,000
Colts Neck Number of Sales
22
22
39
35
20
26
Days on Market
155
79
74
75
115
59
Average Price
$681,766
$781,278
$1,078,418
$751,557
$787,495
$816,758
Median Price
$572,283
$702,500
$725,000
$630,000
$667,500
$725,610
Highest Price
$1,800,000 $1,580,000 $5,400,000 $1,900,000 $2,088,500 $1,950,000
Fair Haven Number of Sales
19
31
23
20
18
46
Days on Market
105
53
101
75
46
44
Average Price
$884,601
$778,042
$784,716
$837,650
$850,661
$773,104
Median Price
$691,166
$691,333
$723,333
$783,750
$766,250
$708,700
Highest Price
$2,250,000 $2,725,000 $2,250,000 $1,500,000 $1,750,000 $1,820,000
Holmdel Number of Sales
21
37
43
35
20
40
Days on Market
75
91
79
106
113
78
Average Price
$750,407
$707,379
$759,902
$793,439
$724,025
$804,352
Median Price
$687,650
$642,417
$696,333
$675,000
$693,000
$750,000
Highest Price
$1,400,000 $2,017,500 $2,267,582 $2,000,000 $1,200,000 $1,970,000
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Quarterly Report 2014
2015
1st Qtr
2nd Qtr
3rd Qtr
4th Qtr
1st Qtr
2nd Qtr
Number of Sales
10
21
20
15
9
19
Days on Market
46
67
64
67
84
54
Average Price
$601,875
$623,314
$814,755
$885,000
$751,000
$695,289
Median Price
$616,167
$590,833
$765,666
$660,000
$675,000
$535,000
Little Silver
Highest Price
$1,137,500 $1,170,000 $1,659,000 $2,450,000 $1,800,000 $1,850,000
Long Branch Number of Sales
27
30
40
34
19
29
Days on Market
152
124
146
115
105
128
Average Price
$261,630
$293,631
$247,886
$305,461
$281,732
$387,831
Median Price
$253,333
$282,800
$256,666
$282,500
$260,000
$315,000
Highest Price
$484,000
$870,000
$800,000
$2,700,000
$1,850,000 $3,051,000
Middletown Number of Sales
77
166
185
151
97
193
Days on Market
91
89
66
77
74
73
Average Price
$422,157
$471,400
$453,989
$414,826
$433,007
$447,673
Median Price
$374,667
$370,000
$422,000
$366,100
$350,000
$395,000
Highest Price
$1,835,000 $5,125,000 $2,700,000 $1,300,000 $1,900,000 $2,200,000
MONMOUTH BEACH Number of Sales
5
12
6
14
8
14
Days on Market
83
53
55
122
52
88
Average Price
$1,042,708
$919,103
$893,722
Median Price
$1,096,875
$782,083
$804,833
Highest Price
$2,125,000 $2,175,000 $1,575,000 $1,637,500 $1,675,000 $2,400,000
res ou rc esre a le st a te. c om
$1,046,696 $1,201,857 $1,170,714 $975,000
$1,230,000 $1,050,000
3rd Qtr
4th Qtr
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Quarterly Report 2014
2015
1st Qtr
2nd Qtr
3rd Qtr
4th Qtr
1st Qtr
2nd Qtr
Number of Sales
8
19
12
16
4
17
Days on Market
143
71
74
75
109
90
Average Price
$579,000
$503,472
$523,015
$450,531
$480,000
$597,617
Median Price
$510,917
$400,833
$533,166
$368,500
$495,000
$500,000
$980,000
$1,025,000
$575,000
$1,400,000
3rd Qtr
4th Qtr
OCEANPORT
Highest Price
$1,250,000 $1,950,000
RED BANK Number of Sales
6
18
15
12
9
21
Days on Market
46
81
55
92
77
48
Average Price
$426,583
$351,073
$382,985
$336,791
$328,211
$326,090
Median Price
$422,166
$340,000
$387,666
$329,750
$320,000
$305,900
Highest Price
$724,000
$760,000
$785,000
$500,000
$690,000
$999,000
Number of Sales
17
31
30
32
11
27
Days on Market
115
86
71
57
79
102
Rumson
Average Price
$1,056,945 $1,202,513 $1,486,825 $1,321,765 $1,099,666 $1,782,862
Median Price
$1,127,500
Highest Price
$2,125,000 $3,550,000 $3,125,000 $4,300,000 $2,725,000 $4,040,000
$980,833
$1,467,500 $1,022,000
$950,000
$1,182,500
Shrewsbury Number of Sales
5
9
17
11
7
13
Days on Market
154
53
59
64
48
58
Average Price
$638,333
$460,711
$592,920
$583,772
$514,285
$544,038
Median Price
$640,000
$484,000
$566,750
$550,000
$425,000
$435,000
Highest Price
$950,000
$837,000
$982,500
$750,000
$955,000
$930,000
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ANNUAL Report 2013
2014
% Change
Monmouth County Units Sold Price Comparisons
MONMOUTH COUNTY Number of Sales
5192
5047
-3
Days on Market
91
80
-12
Average Price
$480,350
$533,400
11
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/17robinrd
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
110
-16
Days on Market
80
76
-5
Days on Market
80
75
-6
Average Price
$456,357
$447,072
-2
Average Price
$1,280,255 $1,294,832
1
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
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Portfolio
lifestyle 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, 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 7/7/15. Copyright 2015 by the Monmouth County Association of REALTORSÂŽ
65 First Ave Atlantic Highlands, NJ 07716