The RESOURCES REPORT Monmouth County Real Estate Market Report
Annual Report 2013
Well 2013 will go down as the year to remember, for more ways than one. I won a personal battle with breast cancer and start 2014 with chemo behind me. In all the time from finding the lump through surgery and chemo, I constantly marveled at the wonderful community I live in and how much help and support I received. It was heartwarming and personally very fulfilling to find such a silver lining in such a gloomy cloud. Beyond the beauty of our area, the schools, proximity to Manhattan, I strongly believe we have an unbelievable quality of lifestyle not just due to those factors, but to the warmth and kindness of the people that this area houses and continues to attract. During my “ down� time, I worked on new technology and big picture ideas to grow our company even stronger and forged some important cross promotion relationships with high end partners all of which we plan to roll out in 2014.
Carolynn Ozar-Diakon Broker of Record - Senior Partner Carolynn@resourcesrealestate.com
The things you will see coming from Resources Real Estate will continue to impress you. A quick look back at 2013 and an attitude of gratitude keep us healthy and strong. We were nominated for three marketing awards by Who’s Who in Luxury Real Estate including best website. We opened a downtown Atlantic Highlands office, officially opened our downtown Red Bank office and re-opened after the Superstorm Sandy our Monmouth Beach office. Growing our company into the communities that we serve, as part of the fabric of that community is very important to us, as are the agents that we hire to be a part of our special team. Buyers felt the pressure of a low inventory market by the third quarter and I believe we will see home prices rise in certain towns as we see the shortage continue of good inventory. Now is definitely the time to sell, mortgage rates are still at all time lows, buyers are out there, they are educated and we just need more inventory to provide them. There has not been a better time to sell in over 8 years. we look forward to working with you and providing you with the Resources difference that has become synonymous with our name. Regards, Carolynn 1
2012 1st Qtr
Quarterly Report
2012 2nd Qtr
2012 3rd Qtr
2012 4th Qtr
2013 1st Qtr
2013 2nd Qtr
2013 3rd Qtr
2013 4th Qtr
Atlantic Highlands Number of Sales
12
8
16
9
6
14
15
19
Days on Market
57
97
104
172
223
106
90
116
Average Price
$299,267
$266,512
$418,433
$752,305
$805,555
$656,374
$385,187
$475,960
Median Price
$216,667
$228,333
$325,917
$610,667
$765,000
$542,350
$396,042
$404,133
Highest Price
$1,500,000
$912,223
$950,000
$745,000
$1,280,000
Number of Sales
14
34
18
21
21
31
47
25
Days on Market
182
107
87
90
105
134
115
134
Average Price
$1,131,111
$761,736
$672,979
$991,521
$786,751
$951,522
$783,952
$852,680
Median Price
$749,833
$595,633
$588,333
$755,583
$634,375
$855,500
$673,150
$735,833
$1,650,000 $1,150,000 $1,480,488
Colts Neck
Highest Price
$4,450,000 $2,500,000 $1,575,000 $3,100,000 $2,200,000 $3,750,000 $2,450,000 $1,765,000
Fair Haven Number of Sales
13
25
31
22
16
23
39
30
Days on Market
98
111
75
75
93
74
85
71
Average Price
$642,988
$711,873
$677,175
$911,726
$647,638
$932,338
$703,259
$919,854
Median Price
$628,000
$660,167
$715,417
$791,750
$586,763
$711,500
$692,333
$711,500
Highest Price
$1,300,000 $1,210,000 $1,250,000 $3,500,000 $1,352,000 $3,300,000 $1,479,000 $3,600,000
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Quarterly Report
2012 1st Qtr
2012 2nd Qtr
2012 3rd Qtr
2012 4th Qtr
2013 1st Qtr
2013 2nd Qtr
2013 3rd Qtr
2013 4th Qtr
Number of Sales
27
29
60
34
22
38
58
36
Days on Market
133
111
103
125
117
105
70
92
Average Price
$539,618
$761,313
$731,880
$681,711
$716,528
$828,609
$718,749
$772,697
Median Price
$515,683
$742,083
$676,250
$638,833
$610,816
$698,500
$648,500
$695,000
Holmdel
Highest Price
$1,300,000 $1,875,100 $1,975,000 $1,650,000 $1,750,000 $2,582,200 $1,852,150 $2,750,000
Little Silver Number of Sales
11
22
22
12
12
32
33
13
Days on Market
113
70
113
127
103
94
45
39
Average Price
$527,042
$597,444
$596,044
$535,528
$581,867
$632,942
$726,596
$630,041
Median Price
$501,083
$502,833
$533,833
$519,333
$570,000
$586,067
$611,721
$521,750
Highest Price
$1,125,000 $1,635,000 $1,800,000 $1,125,000 $1,100,000 $1,575,000 $1,800,000 $1,670,000
Middletown Number of Sales
85
144
163
135
99
163
208
147
Days on Market
110
80
70
97
87
99
67
77
Average Price
$398,373
$434,694
$483,158
$486,438
$395,691
$441,599
$495,838
$450,906
Median Price
$353,583
$385,333
$395,000
$369,167
$356,433
$397,500
$416,333
$425,000
Highest Price
$1,385,000 $2,875,000 $4,475,000 $7,300,000 $1,352,000 $2,725,000 $6,100,000 $1,325,000
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2012 1st Qtr
Quarterly Report
2012 2nd Qtr
2012 3rd Qtr
2012 4th Qtr
2013 1st Qtr
2013 2nd Qtr
2013 3rd Qtr
2013 4th Qtr
Monmouth Beach Number of Sales
9
16
13
8
4
5
15
13
Days on Market
89
127
187
138
49
113
109
131
Average Price
$832,700
$848,728
$857,194
$981,000
$577,000
$863,100
$597,694
$900,312
Median Price
$741,633
$871,683
$836,333
$954,667
$642,000
$863,100
$426,500
$862,207
Highest Price
$1,620,000 $1,265,000 $1,425,000 $1,240,000 $1,315,000 $1,275,000 $1,800,000 $1,575,000
Red Bank Number of Sales
9
16
15
17
14
21
18
20
Days on Market
104
75
47
100
200
105
90
57
Average Price
$384,319
$399,819
$222,797
$340,034
$251,866
$475,638
$497,644
$527,553
Median Price
$345,917
$308,500
$219,167
$328,300
$264,583
$365,667
$388,000
$446,683
$700,000
$840,000
$535,100
Highest Price
$1,100,000 $1,640,000
$2,550,000 $1,650,000 $2,281,700
Rumson Number of Sales
24
28
25
24
20
32
38
38
Days on Market
89
87
115
182
93
87
86
79
Average Price
$1,132,754 $1,439,682 $1,156,518 $1,420,205 $1,271,269 $1,063,287 $1,444,824 $1,178,908
Median Price
$1,131,667 $1,133,167 $1,058,750 $1,363,750 $1,095,833
Highest Price
$2,050,000 $4,090,000 $2,350,000 $2,750,000 $3,034,000 $3,175,000 $3,200,000 $5,600,000
$857,417
$1,358,417
$855,166
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Resources Real Estate Annual Market Report
Monmouth County Annual Report Number of Sales 2011 .........................3928 Number of Sales 2012 .........................4601 Days on Market 2011 ..........................110 Days on Market 2012...........................107 Average Price 2011 ............................$475,305 Average Price 2012 ............................$472,637 Median Price 2011 ............................$374,167 Median Price 2012 ............................$371,875 Highest Price 2011 ............................$12,000,000 Highest Price 2012 ............................$7,300,000 2011
2012
Atlantic Highlands Number of Sales Days on Market Average Price Median Price Highest Price
Colts Neck
30 112 $343,850 $329,270 $1,383,500
2011
45 107 $434,129 $345,396 $1,650,000
Number of Sales Days on Market Average Price Median Price Highest Price
75 104 $892,945 $711,423 $3,410,000
87 117 $889,336 $672,345 $4,450,000
Number of Sales Days on Market Average Price Median Price Highest Price
76 98 $710,369 $594,061 $2,975,000
91 90 $735,940 $698,833 $3,500,000
Number of Sales Days on Market Average Price Median Price Highest Price
107 126 $791,182 $749,272 $2,382,000
150 118 $678,630 $643,212 $1,975,000
Fair Haven
Holmdel
Rumson
Number of Sales Days on Market Average Price Median Price Highest Price
Little Silver
Number of Sales Days on Market Average Price Median Price Highest Price
2012
62 94 $583,535 $523,935 $1,250,000
67 106 $564,014 $514,270 $1,800,000
Number of Sales Days on Market Average Price Median Price Highest Price
457 97 $408,480 $372,200 $5,600,000
526 89 $450,668 $374,937 $7,300,000
Number of Sales Days on Market Average Price Median Price Highest Price
31 102 $847,337 $870,112 $1,985,000
46 135 $879,905 $851,079 $1,620,000
Number of Sales Days on Market Average Price Median Price Highest Price
47 99 $325,550 $349,166 $1,750,854
58 80 $339,447 $301,245 $1,640,000
Middletown
Monmouth Beach
Red Bank
99 91 $1,370,980 $1,150,854 $12,000,000
101 128 $1,287,289 $1,171,833 $4,090,000
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A new year is always a bit more welcome when there’s good news to report. The feeling of positive momentum is contagious and sometimes self-perpetuating which has been a good thing for the real estate market. 2013 delivered a fair amount of positive market activity overall with unit sales gains and modest price increases in many markets, especially those markets that are not coastal and in Superstorm Sandy’s wake.
Thomas McCormack Managing Broker Tom@resourcesrealestate.com
By year end, Monmouth County posted a 12.67% increase in the number of homes sold relative to the previous year. Indeed, monthly sales figures were showing positive growth even prior to 2013: there have been unit sales increases in 21 of the past 24 months. Although sometimes just a modest bump up from the same period the year before, this growth is welcome nonetheless. Coupled with increased demand has been lower inventory of available homes – down 14% from 2012 - a factor that certainly contributed to a median sale price increase of 3.3% county-wide for single-family homes. While some markets have seen the return of multiple contracts, brisk competition, and even above-asking offers, even those areas that simply witnessed renewed buyer activity rejoiced that their market was improving. Resources Real Estate continued in 2013 on its mission to be Monmouth County’s premier independent residential brokerage with the addition of two more branch offices, dozens of new agents and an increased market share. Our presence has never been stronger and we are very pleased by the response. Resources showed an even greater sales increase than the county, selling over 16% more homes in 2013 than we did in 2012. Resources was in the top 4% of all Monmouth County residential real estate brokerages in 2013 and our average sale price for our listing clients remains high -- over 42% higher than that of Monmouth County as a whole. We thank all of our past clients, friends and supporters who continue to help us grow, refer us new business and spread the word that Resources Real Estate is the best choice for professional representation if you are buying or selling a home in Monmouth County. Tom 6
112 East River Road Rumson, NJ 07760 36 Beach Rd Suite 3 Monmouth Beach, NJ 07750 4A West Front St Red Bank, NJ 07701 65 First Ave Atlantic Highlands, NJ 07716
732-212-0440 www.resourcesrealestate.com info@resourcesrealestate.com Information deemed reliable but not guaranteed -Copyright: 2013 by the Monmouth County Association of REALTORS速