the
Monmouth County Real Estate Market Report 1st Quarter 2014
RESOURCES
report
As we finally shake off the last vestiges of Winter and see the flashes of color of daffodils and crocus pushing their way up toward the light, we too feel the effects of inevitable growth and are excited about the real estate market budding along with the Spring. Despite the recent harsh weather, we are experiencing multiple bids on properties that are priced correctly, making it almost impossible for buyers to take a wait-and-see attitude. Sellers that overprice continue to see their homes take longer to sell and generally for less. Our market data is uncompromisingly clear and we spend time with each seller advising on their individual market, as well as recent trending. At Resources Real Estate, 2014 brings us exclusive windowfront interactive technology which, while still uncommon here, is widely used in Europe. We are confident our clients will again benefit from our continued leadership in technology development in our market. We bring things to our real estate clients, that no other companies offer, we are not afraid of being bold! Our agents are simply the best educated in the market. We continue to hire only the best available agents and our training is unparalleled.
Carolynn Ozar-Diakon Broker - Senior Partner carolynn@resourcesrealestate.com
The confidence our clients show in our agents is well evident: we’ve recently listed the most exclusive waterfront home in the area, a landmark home that delivers an exceptional lifestyle for the most sophisticated buyer in the market. We are honored to represent this spectacular property. We believe that every house has a story and we are honored to tell yours. Carolynn
As old man winter finally retreats and we find the Spring market upon us, we at Resources Real Estate eagerly await the annual rush of willing buyers into our marketplace. Like a seasonal migration, they come from around the corner and sometimes from around the globe to our corner of the world — this beautiful place called Monmouth County. The place we call home. And as our market continues to heat up, we know there’s a level of anxiety among buyers who understand that low inventory makes their task a very real competition. With unit sales gains of almost 12.5%, dollar volume sales up more than 19%, and available inventory diminished by 8%*, now more than ever, market knowledge and negotiating knowhow are key skills to achieving the goal. We take pride in helping our clients understand the market and what they need to do to be successful. So whether buyer or selling, when you need the services of an exceptional agent we hope you’ll think of Resources Real Estate.
Thomas McCormack
Tom (* For the 12 month period ending with first quarter 2014.)
res ou rc esre a le st a te. c om
Managing Partner - Broker tom@resourcesrealestate.com
bit.ly/rumsonwaterfront
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
Days on Market
223
106
90
116
105
Average Price
$805,555
$656,374
$385,187
$475,960
$341,014
Median Price
$765,000
$542,350
$396,042
$404,133
$330,250
$745,000
$1,280,000
$510,000
Highest Price
$1,150,000 $1,480,488
Colts Neck Number of Sales
21
31
47
25
21
Days on Market
105
134
115
134
178
Average Price
$786,751
$951,222
$783,952
$852,680
$719,127
Median Price
$634,375
$855,500
$673,150
$735,833
$618,116
Highest Price
$2,200,000 $3,750,000 $2,450,000 $1,765,000 $1,800,000
Fair Haven Number of Sales
16
23
39
30
19
Days on Market
93
74
85
71
105
Average Price
$647,638
$932,338
$703,259
$919,854
$884,601
Median Price
$586,763
$711,500
$692,333
$711,500
$691,166
Highest Price
$1,352,000 $3,300,000 $1,479,000 $3,600,000 $2,250,000
Holmdel Number of Sales
22
38
58
38
21
Days on Market
117
105
70
92
75
Average Price
$716,528
$828,609
$718,749
$757,560
$750,407
Median Price
$610,816
$698,500
$648,500
$694,167
$687,650
Highest Price
$1,750,000 $2,582,200 $1,852,150 $2,750,000 $1,400,000
re source sre al es tate. co m
bit.ly/7and11hillside
Quarterly Report 2013
2014
1st Qtr
2nd Qtr
3rd Qtr
4th Qtr
1st Qtr
Number of Sales
13
32
33
13
10
Days on Market
95
94
45
39
46
Average Price
$577,394
$632,942
$726,596
$630,041
$601,875
Median Price
$561,667
$586,067
$611,721
$521,750
$616,167
Little Silver
Highest Price
$1,100,000 $1,575,000 $1,800,000 $1,670,000 $1,137,500
Long Branch Number of Sales
19
36
38
29
26
Days on Market
115
128
119
85
154
Average Price
$262,542
$277,010
$365,869
$302,180
$257,368
Median Price
$217,083
$240,500
$257,500
$248,300
$251,167
Highest Price
$1,187,500
$750,000
Number of Sales
103
163
208
148
75
Days on Market
87
99
67
77
93
Average Price
$397,076
$441,599
$495,838
$450,906
$413,065
Median Price
$355,600
$397,500
$416,333
$425,000
$361,967
$1,220,295 $1,500,000
$484,000
Middletown
Highest Price
$1,352,000 $2,725,000 $6,100,000 $1,325,000 $1,835,000
MONMOUTH BEACH Number of Sales
4
5
15
13
5
Days on Market
73
113
109
131
83
Average Price
$865,500
$863,100
$597,694
$900,311
$1,042,708
Median Price
$963,000
$863,100
$426,500
$862,207
$1,096,875
Highest Price
$1,315,000 $1,275,000 $1,800,000 $1,575,000 $2,125,000
res ou rc esre a le st a te. c om
2nd Qtr
3rd Qtr
4th Qtr
bit.ly/459locustpoint
Quarterly Report 2013
2014
1st Qtr
2nd Qtr
3rd Qtr
4th Qtr
1st Qtr
Number of Sales
12
9
16
14
8
Days on Market
100
61
64
109
143
Average Price
$396,075
$377,097
$526,507
$489,233
$579,000
Median Price
$372,167
$350,750
$382,417
$443,500
$510,917
Highest Price
$699,900
$770,000
$2,400,000
$805,000
$1,250,000
Number of Sales
14
21
18
20
6
Days on Market
201
105
90
57
46
Average Price
$251,867
$475,638
$497,644
$527,553
$426,583
Median Price
$264,583
$365,667
$388,000
$446,683
$422,166
Highest Price
$535,100
2nd Qtr
3rd Qtr
4th Qtr
OCEANPORT
RED BANK
$2,550,000 $1,650,000 $2,281,700
$724,000
Rumson Number of Sales
20
32
38
38
17
Days on Market
93
87
86
79
115
Average Price
$1,271,269 $1,063,287 $1,444,824 $1,178,908 $1,056,945
Median Price
$1,095,833
Highest Price
$3,034,000 $3,175,000 $3,200,000 $5,600,000 $2,125,000
$857,417
$1,358,417
$855,166
$1,127,500
Shrewsbury Number of Sales
6
8
12
10
5
Days on Market
86
150
63
89
154
Average Price
$348,944
$653,633
$425,450
$664,436
$638,333
Median Price
$328,500
$667,250
$444,167
$664,150
$640,000
Highest Price
$490,000
$960,000
$515,000
$875,000
$950,000
re source sre al es tate. co m
bit.ly/80seneca
ANNUAL Report 2012
2013
% Change
Monmouth County Price Comparisons
MONMOUTH COUNTY Number of Sales
4601
5192
13
Days on Market
107
91
-15
Average Price
$472,637
$480,350
2
Median Price
$371,875
$384,188
3
Highest Price
$7,300,000 $6,425,000
2012
2013
-12
% Change
2012
2013
% Change
Fair Haven
Atlantic Highlands Number of Sales
45
53
18
Number of Sales
91
108
19
Days on Market
107
120
12
Days on Market
90
79
-12
Average Price
$434,129
$522,798
20
Average Price
$735,940
$805,139
9
Median Price
$345,396
$420,000
22
Median Price
$698,833
$667,000
-5
-10
Highest Price
Highest Price
$1,650,000 $1,480,488
$3,500,000 $3,600,000
3
HOLMDEL
Colts Neck Number of Sales
87
124
43
Number of Sales
150
156
4
Days on Market
117
121
3
Days on Market
118
92
-22
Average Price
$889,336
$831,089
-7
Average Price
$678,630
$757,940
12
Median Price
$672,345
$672,500
0
Median Price
$643,212
$658,500
2
-16
Highest Price
Highest Price
$4,450,000 $3,750,000
res ou rc esre a le st a te. c om
$1,975,000 $2,750,000
39
bit.ly/80wriver
Annual Report 2012
2013
% Change
2012
2013
% Change
Oceanport
Little SIlver Number of Sales
67
91
36
Number of Sales
58
51
-12
Days on Market
106
75
-29
Days on Market
116
84
-28
Average Price
$564,014
$670,679
19
Average Price
$452,924
$446,027
-2
Median Price
$514,270
$555,000
8
Median Price
$394,500
$375,000
-5
0
Highest Price
Highest Price
$1,800,000 $1,800,000
$1,200,000 $2,400,000
100
Red Bank
LONG BRANCH Number of Sales
90
122
36
Number of Sales
58
74
28
Days on Market
167
117
-30
Days on Market
80
109
36
Average Price
$254,966
$311,803
22
Average Price
$339,447
$435,018
28
Median Price
$205,000
$236,000
15
Median Price
$301,245
$333,500
11
-21
Highest Price
Highest Price
$1,900,000 $1,500,000
$1,640,000 $2,550,000
55
rumson
middletown Number of Sales
526
624
19
Number of Sales
101
129
28
Days on Market
89
80
-10
Days on Market
128
80
-38
Average Price
$450,668
$456,357
1
Average Price
$1,287,289 $1,280,255
-1
Median Price
$374,937
$399,250
6
Median Price
$1,171,833 $1,070,000
-9
-16
Highest Price
$4,090,000 $5,600,000
37
Highest Price
$7,300,000 $6,100,000
Shrewsbury
monmouth beach Number of Sales
46
37
-20
Number of Sales
48
36
-25
Days on Market
135
119
-12
Days on Market
88
87
-1
Average Price
$879,905
$766,947
-13
Average Price
$503,429
$501,629
0
Median Price
$851,079
$634,000
-26
Median Price
$481,950
$480,500
0
11
Highest Price
$1,300,000
$960,000
-26
Highest Price
$1,620,000 $1,800,000
re source sre al es tate. co m
bit.ly/53clubway
bit.ly/134ocean
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 4/3/14. Copyright 2014 by the Monmouth County Association of REALTORS速
65 First Ave Atlantic Highlands, NJ 07716