2009 Monmouth County Luxury Home Market Report

LUXURY HOME MARKET REPORT 2009

MONMOUTH COUNTY, NEW JERSEY PREPARED BY THOMAS MCCORMACK, SALES ASSOCIATE

2

2009 HOME MARKET REPORT: Monmouth County Overview

Despite the economic downturn, Monmouth County continues to be a highly desirable real estate market within the New York metropolitan area, allowing for a relatively easy commute to Manhattan with varied transportation options that include high-speed ferry to Wall Street.

Equally important is its location: with the north Jersey Shore as its eastern border, Monmouth County is one of the closest oceanfront regions to Manhattan, providing many areas of interest to both primary and secondary homeowners. Its fine schools are an example of New Jersey’s exemplary public education system and relative to many northern New Jersey counties, Monmouth is perceived as providing some welcome tax relief.

In the market overall, much of 2009 has been about returning to where we were at the close of 2008. Across all price tiers, six of the last seven months of 2009 have shown an increase in sales over the previous year, with the total year ending at much the same place it was at the end of 2008. Interestingly, this pattern was mirrored in sales above $1 million although the luxury segment of the market still finished the year significantly down. Overall dollar sales were down about 12% ($1.9 billion vs. $2.15 in 2008) while the number of homes sold was basically the same as the year before.

The highest price paid for a home in Monmouth County in 2009: $5,558,500 for an oceanfront, 8800 square foot 2-year old home which closed in October. (It sold for about 20% off the asking price of $6,999,900 without a mortgage.) The highest sale price in 2008? $5.6 million.

Thomas McCormack Sales Associate

2009 Luxury Home Market Report: Monmouth County Š 2010 Thomas McCormack. All rights reserved. All data provided by Monmouth County Association of Realtors. Information is deemed reliable but not guaranteed.

3

Sales and Inventory Single-Family Sales for all of Monmouth County from 1/1/2008 - 12/31/2009 Month Year Sales Volume Avg List Avg Sale Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008

227 226 302 342 377 434 449 433 338 341 248 249

$137,712,131 $124,287,239 $157,095,747 $194,027,208 $214,297,873 $221,735,822 $254,638,374 $240,931,457 $178,061,284 $169,546,744 $126,015,008 $128,865,981

$650,604 $589,150 $552,640 $600,195 $603,870 $541,385 $603,241 $589,879 $561,255 $528,491 $546,390 $565,809

$606,661 $549,943 $520,184 $567,331 $568,429 $510,912 $567,123 $556,423 $526,808 $497,204 $508,125 $517,534

$429,900 $405,417 $415,000 $436,000 $449,900 $440,000 $455,000 $455,000 $400,000 $405,000 $402,500 $390,000

107 112 115 97 95 89 95 94 92 99 103 103

93.24% 93.34% 94.12% 94.52% 94.13% 94.37% 94.01% 94.32% 93.86% 94.08% 92.99% 91.46%

3672 3862 4029 4288 4516 4594 4573 4597 4484 4388 4199 3946

Months Inventory 16.17 17.08 13.34 12.53 11.97 10.58 10.18 10.61 13.26 12.86 16.93 15.84

Annual:

2008

3966

$2,147,214,868

$576,955

$541,405

$425,000

99

93.83%

4262

12.89

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

2009 2009 2009 2009 2009 2009 2009 2009 2009 2009 2009 2009

176 151 251 245 303 435 483 402 391 423 366 346

$77,258,404 $67,469,390 $105,089,344 $118,513,971 $149,244,681 $217,284,243 $229,552,284 $197,268,101 $202,392,486 $216,297,660 $169,029,336 $173,242,693

$474,331 $483,174 $448,469 $527,803 $530,022 $533,344 $504,612 $526,075 $558,899 $546,230 $495,963 $538,186

$438,968 $446,817 $418,682 $483,730 $492,556 $499,504 $475,263 $490,716 $517,627 $511,341 $461,828 $500,701

$368,750 $379,900 $355,000 $370,000 $390,000 $385,000 $400,000 $425,000 $400,000 $380,000 $350,000 $396,250

104 116 106 108 118 89 92 100 98 107 98 104

92.54% 92.47% 93.35% 91.64% 92.93% 93.65% 94.18% 93.27% 92.61% 93.61% 93.11% 93.03%

3660 3884 4019 4231 4338 4481 4450 4449 4383 4366 4224 3997

20.79 25.72 16.01 17.26 14.31 10.3 9.21 11.06 11.2 10.32 11.54 11.55

Annual:

2009

3972

$1,922,642,593

$519,499

$484,048

$385,000

102

93.17%

4184

12.64

Notes:   

Median Sold

Avg DOM

% Sold/List

Inventory

The Current Inventory columns reflect the number of Active (on market) listings on the 3rd day of each month.

The Months Inventory column values equal Current Inventory divided by Monthly Sales. This reflects how many months it would take to sell out of inventory at the current month's rate of sale.

Total Months Inventory = Total Current Inventory / (Total Monthly Sales/12 Months)

2009 Luxury Home Market Report: Monmouth County © 2010 Thomas McCormack. All rights reserved. All data provided by Monmouth County Association of Realtors. Information is deemed reliable but not guaranteed.

4

The first half of the year reflected the mood of the overall economy with significant sales decreases relative to 2008, ending the period flat in June.

600 400 200 0

Unit Sales were higher than the previous year during 6 of the last 7 months of 2009 ending the year at about 2% under the previous year.

Unit Sales: 2009 vs 2008 JAN

FEB MAR APR MAY JUN

JUL

AUG SEP

OCT NOV DEC

2009 176

151

251

245

303

435

483

402

391

423

366

346

2008 227

226

302

342

377

434

449

433

338

341

248

249

Unit Sales: 2009 vs 2008 percentage differential 2009 2008 % Change:

JAN

FEB

MAR

APR

MAY

JUN

JUL

AUG

SEP

OCT

NOV

DEC

TOTAL

176 227

151 226

251 302

245 342

303 377

435 434

483 449

402 433

390 338

424 341

362 248

94 74

3716 3791

-22.46%

-33.18%

-16.88%

-28.36%

-19.62%

0.23%

7.57%

-7.15%

15.38%

24.34%

45.96%

27.02%

2009 Luxury Home Market Report: Monmouth County Š 2010 Thomas McCormack. All rights reserved. All data provided by Monmouth County Association of Realtors. Information is deemed reliable but not guaranteed.

-1.98%

5

Millions

Dollar Volume: 2009 vs 2008 $300 $200 $100 $0

2009

2008

2009

2008

Diff

% Chg

$77,258,404

$137,712,131

($60,453,727)

-43.90%

FEB

$67,469,390

$124,287,239

($56,817,849)

-45.71%

MAR

$105,089,344

$157,095,747

($52,006,403)

-33.10%

APR

$118,513,971

$194,027,208

($75,513,237)

-38.92%

MAY

$149,244,681

$214,297,873

($65,053,192)

-30.36%

way through the end of summer with

JUN

$217,284,243

$221,735,822

($4,451,579)

-2.01%

rebounds starting in September and

JUL

$229,552,284

$254,638,374

($25,086,090)

-9.85%

carrying thru the end of the year.

AUG

$197,268,101

$240,931,457

($43,663,356)

-18.12%

SEP

$202,392,486

$178,061,284

$24,331,202

13.66%

OCT

$216,297,660

$169,546,744

$46,750,916

27.57%

NOV

$169,029,336

$126,015,008

$43,014,328

34.13%

DEC

$173,242,693

$128,865,981

$44,376,712

34.44%

JAN

Dollar volume took a major hit all the

2009 Luxury Home Market Report: Monmouth County Š 2010 Thomas McCormack. All rights reserved. All data provided by Monmouth County Association of Realtors. Information is deemed reliable but not guaranteed.

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Sales by Area Single-Family Home Sales by Town in Monmouth County from 1/1/2009 to 12/31/2009 as reported in Monmouth MLS. Area

ABERDEEN ALLENHURST ALLENTOWN ASBURY PARK ATLANTIC HIGHLANDS AVON-BY-THE-SEA BELMAR BRADLEY BEACH BRIELLE COLTS NECK DEAL EATONTOWN ENGLISHTOWN FAIR HAVEN FARMINGDALE FREEHOLD BORO FREEHOLD TWP HAZLET HIGHLANDS HOLMDEL HOWELL INTERLAKEN KEANSBURG KEYPORT LAKE COMO

# of Sales

136 2 15 36 32 23 32 17 39 88 1 58 6 57 8 68 221 174 21 93 328 11 67 58 16

Total Volume

Avg Sales $

$40,736,840 $3,449,000 $5,996,000 $7,817,875 $13,881,400 $22,788,400 $22,711,500 $6,889,900 $31,905,000 $79,729,490 $537,500 $19,324,900 $2,251,500 $42,901,180 $2,769,000 $18,052,900 $111,798,272 $48,606,711 $7,562,464 $73,033,455 $111,570,400 $6,593,250 $9,827,215 $13,447,300 $5,535,900

$299,535 $1,724,500 $399,733 $217,163 $433,793 $990,800 $709,734 $405,288 $818,076 $906,016 $537,500 $333,187 $375,250 $752,652 $346,125 $265,483 $505,874 $279,348 $360,117 $785,305 $340,153 $599,386 $146,674 $231,850 $345,993

Median Sales $

$305,000 $1,724,500 $330,000 $157,500 $361,000 $925,000 $491,000 $380,000 $665,000 $735,000 $537,500 $334,000 $381,250 $620,000 $290,000 $270,000 $464,900 $300,000 $313,000 $700,000 $322,000 $540,000 $147,000 $216,000 $310,000

2009 Luxury Home Market Report: Monmouth County © 2010 Thomas McCormack. All rights reserved. All data provided by Monmouth County Association of Realtors. Information is deemed reliable but not guaranteed.

Highest

$549,900 $2,800,000 $730,000 $970,000 $1,515,000 $2,400,000 $1,950,000 $725,000 $3,662,500 $3,031,000 $537,500 $625,000 $460,000 $3,500,000 $745,000 $460,000 $1,290,000 $538,000 $1,290,000 $2,827,882 $950,000 $1,275,000 $265,000 $655,000 $725,000

7

Area

LITTLE SILVER LOCH ARBOUR VILLAGE LONG BRANCH MANALAPAN MANASQUAN MARLBORO MATAWAN MIDDLETOWN MILLSTONE MONMOUTH BEACH NEPTUNE CITY NEPTUNE TWP OCEAN OCEANPORT RED BANK ROOSEVELT RUMSON SEA BRIGHT SEA GIRT SHREWSBURY BORO SPRING LK HEIGHTS SPRING LAKE TINTON FALLS UNION BEACH UPPER FREEHOLD WALL WEST LONG BRANCH

# of Sales

45 3 106 224 56 265 75 429 67 35 21 202 139 33 51 6 70 11 26 34 19 52 93 61 41 158 43

Total Volume

Avg Sales $

$27,105,500 $1,812,000 $29,281,537 $117,240,450 $37,312,027 $155,631,674 $24,286,933 $178,033,725 $38,804,086 $27,612,404 $4,770,000 $67,833,800 $56,263,150 $13,698,900 $18,090,660 $1,565,500 $89,759,000 $10,361,500 $37,479,240 $15,272,650 $7,811,100 $89,320,936 $35,559,620 $14,735,100 $20,176,240 $77,303,684 $15,803,825

$602,344 $604,000 $276,240 $523,394 $666,286 $587,289 $323,825 $414,997 $579,165 $788,925 $227,142 $335,810 $404,770 $415,118 $354,718 $260,916 $1,282,271 $941,954 $1,441,509 $449,195 $411,110 $1,717,710 $382,361 $241,559 $492,103 $489,263 $367,530

Median Sales $

$540,000 $720,000 $254,000 $487,000 $605,000 $520,000 $325,000 $375,000 $585,000 $700,000 $233,000 $290,000 $360,500 $370,000 $325,000 $266,000 $995,000 $850,000 $1,232,500 $395,000 $375,000 $1,413,500 $375,000 $245,000 $475,000 $443,500 $350,000

2009 Luxury Home Market Report: Monmouth County © 2010 Thomas McCormack. All rights reserved. All data provided by Monmouth County Association of Realtors. Information is deemed reliable but not guaranteed.

Highest

$1,080,000 $765,000 $1,598,755 $1,350,000 $1,900,000 $2,500,000 $672,000 $3,100,000 $1,010,000 $2,160,000 $355,000 $1,600,000 $1,450,000 $805,000 $830,000 $415,000 $3,850,000 $2,865,000 $3,3,25,000 $1,100,000 $665,000 $5,558,500 $885,000 $399,900 $1,100,000 $1,275,000 $720,000

8

Monmouth County Monthly Sales: 2009 vs. 2008 All Prices

2009 2008 % Change:

JAN 176 227

FEB 151 226

MAR 251 302

APR 245 342

MAY 303 377

JUN 435 434

JUL 483 449

AUG 402 433

SEP 391 338

OCT 423 341

NOV 366 248

DEC 346 249

TOTAL 3972 3966

-22.47%

-33.19%

-16.89%

-28.36%

-19.63%

0.23%

7.57%

-7.16%

15.68%

24.05%

47.58%

38.96%

0.15%

Monmouth County Monthly Sales: 2009 vs. 2008 Sold for more than $1,000,000

2009 2008 % Change:

JAN 8 23

FEB 7 15

MAR 9 19

APR 14 32

MAY 17 33

JUN 30 15

JUL 23 35

AUG 19 29

SEP 24 23

OCT 29 19

NOV 23 16

DEC 22 18

TOTAL 225 277

-65.22%

-53.33%

-52.63%

-56.25%

-48.48%

100.00%

-34.29%

-34.48%

4.35%

52.63%

43.75%

22.22%

-18.77%

Monmouth County Monthly Sales: 2009 vs. 2008 Sold between $1 - $2 million

2009 2008 % Change:

JAN 8 14

FEB 7 8

MAR 8 13

APR 10 25

MAY 12 24

JUN 22 12

JUL 21 27

AUG 16 19

SEP 17 19

OCT 22 14

NOV 18 13

DEC 18 12

TOTAL 179 200

-42.86%

-12.50%

-38.46%

-60.00%

-50.00%

83.33%

-22.22%

-15.79%

-10.53%

57.14%

38.46%

50.00%

-10.50%

Monmouth County Monthly Sales: 2009 vs. 2008 Sold for more than $2,000,000

2009 2008 % Change:

JAN 1 9

FEB 0 7

MAR 1 6

APR 5 7

MAY 5 9

JUN 8 3

JUL 2 8

AUG 3 10

SEP 8 5

OCT 7 5

NOV 5 3

DEC 4 6

TOTAL 49 78

-88.89%

-100.00%

-83.33%

-28.57%

-44.44%

166.67%

-75.00%

-70.00%

60.00%

40.00%

66.67%

-33.33%

-37.18%

2009 Luxury Home Market Report: Monmouth County Š 2010 Thomas McCormack. All rights reserved. All data provided by Monmouth County Association of Realtors. Information is deemed reliable but not guaranteed.

9

LUXURY MARKET REVIEW

Typically, the term “luxury real estate” refers to the top 10% value-tier of a given market. For Monmouth County in 2008 this price point for homes that had sold started just under $850,000; in 2009 the top 10% mark fell closer to $800,000. Despite this, given that several towns’ average sale price was well over $1 million (see “Sales by Area” in this report) we’ve rounded the cut-off up to the $1 million mark with an additional focus on sales above $2 million.

While the county as a whole remained essentially flat with a less than 1% increase in annual unit sales above that of 2008, the “high-end” of the market ~ above the $1 million mark ~ experienced severe sales losses relative to the year before. The first half of the year proved especially daunting when sales for the period were down 38%. The second half of the year proved much more promising with sales increases in each of the last four months of the year relative to 2008. As a whole, the luxury segment seemed to be showing some signs of a rebound: sales ended the year at about 19% lower than the previous year, reducing the first half of the year’s loss by half.

In examining the segment of the market above $2 million we see a less promising year-end tally with sales 37% down from 2008, but we also see a similar market improvement in the tail-end of the year, with 3 of the last 4 months of the year showing significant gains over sales for the same period the year before. This segment of the market was down 51% at the mid-year mark, so while progress was measured, it is certainly welcome and hopefully a sign of improvement in 2010. Indeed, in January 2010 there were already 5 homes that closed over $2 million… already a big increase over the same time last year.

If there are any trends to note among the highest price homes that sold last year, it’s the frequency of waterfront, water view and new or newer construction. See charts for the top prices, top waterfront and new construction.

2009 Luxury Home Market Report: Monmouth County © 2010 Thomas McCormack. All rights reserved. All data provided by Monmouth County Association of Realtors. Information is deemed reliable but not guaranteed.

10

2009 Sales by Town $2 million & above

2009 Sales by Town between $1 - $2 mil

Rumson

13

Spring Lake

13

Colts Neck

6

Marlboro

4

Middletown

2

Brielle

2

Allenhurst

1

Avon by the Sea

1

Fair Haven

1

Holmdel

1

Monmouth‌

1

Sea Bright

1

View all available homes listed above $2 million, the highest-priced home currently available is $16,800,000.

Spring Lake Colts Neck Rumson Marlboro Holmdel Sea Girt Wall Avon by the Sea Brielle Manasquan Fair Haven Middletown Belmar Monmouth Beach Sea Bright Upper Freehold Atlantic Highlands Highlands Little Silver Millstone Neptune Ocean

13 12 11 10 9 8 5 4 4 4 3 3

2 2 2 2 1 1 1 1 1 1

View all available homes listed between $1 - $2 million.

2009 Luxury Home Market Report: Monmouth County Š 2010 Thomas McCormack. All rights reserved. All data provided by Monmouth County Association of Realtors. Information is deemed reliable but not guaranteed.

11

Luxury Top Ten 2009

Highest # of Sales $2 million & Above ~ All types

Rumson Spring Lake

13 13

Highest # of Sales Above $1 million ~ All types

Rumson

33

Highest # of Sales Above $1 million ~ Waterfront

Rumson

9

Highest # of Sales Above $1 million: New Construction

Holmdel

5

Highest Sale Price

Spring Lake

$5,558,500

Highest Median Price

Allenhurst

$1,724,500

Highest Average Price

Allenhurst

$1,724,500

Towns with Median Sale Price Above $1 million

Allenhurst Sea Girt Spring Lake

$1,724,500 $1,232,500 $1,413,500

Towns with Average Sale Price Above $1 million

Allenhurst Rumson Sea Girt Spring Lake

$1,724,500 $1,282,271 $1,441,509 $1,717,710

2009 Luxury Home Market Report: Monmouth County Š 2010 Thomas McCormack. All rights reserved. All data provided by Monmouth County Association of Realtors. Information is deemed reliable but not guaranteed.

12

Top 15 highest selling homes in Monmouth County in 2009 TOWN

SPRING LAKE SPRING LAKE SPRING LAKE SPRING LAKE SPRING LAKE RUMSON RUMSON BRIELLE FAIR HAVEN SEA GIRT RUMSON RUMSON RUMSON SPRING LAKE MIDDLETOWN

SOLD DATE

ADDRESS

10/30/2009 11/23/2009 9/14/2009 8/5/2009 5/4/2009 10/15/2009 6/30/2009 9/4/2009 5/1/2009 6/30/2009 12/11/2009 10/1/2009 6/16/2009 5/18/2009 8/13/2009

2222 OCEAN AVE 2000 ADRIAN AVE 205 TUTTLE AVE 2103 OCEAN AVE 101 MONROE AVE 150 RUMSON RD 7 BUTTONWOOD LN E 804 ASHLEY AVE 117 BATTIN RD 210 PHILADELPHIA BLVD 31 SHREWSBURY DR 7 N ROHALLION DR 5 TYSON LN 38 VROOM AVE 51 BLOSSOM COVE RD

SOLD PRICE

$5,558,500 $4,500,000 $4,500,000 $4,500,000 $4,112,500 $3,850,000 $3,675,000 $3,662,500 $3,500,000 $3,325,000 $3,300,000 $3,275,000 $3,250,000 $3,100,000 $3,100,000

BEDROOMS

BATHS

YEAR BUILT

WATER FRONT

WATER VIEW

LISTING PRICE

ORIGINAL PRICE

6 6 5 4 5 7 6 7 5 6 5 6 5 8 5

8 5 5 5 4 9 8 7 5 7 7 8 8 7 8

2007 1988 n/a 2000 2000 2005 2002 n/a n/a 2009 1998 2003 2009 2003 2000

Y N N Y N N N Y Y N Y N N N Y

Y Y N Y Y N N Y Y N Y N N N Y

$6,999,900 $4,999,000 $4,989,900 $5,400,000 $4,550,000 $3,950,000 $3,799,000 $3,999,999 $3,750,000 $3,399,000 $3,550,000 $3,400,000 $3,499,000 $3,498,900 $3,950,000

$6,999,900 $4,999,000 $4,989,900 $6,200,000 $4,550,000 $3,950,000 $3,799,000 $5,875,000 $3,750,000 $3,399,000 $3,750,000 $3,849,000 $3,499,000 $3,650,000 $6,450,000

2009 Luxury Home Market Report: Monmouth County © 2010 Thomas McCormack. All rights reserved. All data provided by Monmouth County Association of Realtors. Information is deemed reliable but not guaranteed.

13

WATERFRONT

The top ten highest selling waterfront homes in Monmouth County in 2009 Town

SaleDate

SPRING LAKE

10/30/2009

SPRING LAKE

8/5/2009

BRIELLE

9/4/2009

FAIR HAVEN

5/1/2009

RUMSON

12/11/2009

MIDDLETOWN

8/13/2009

COLTS NECK

8/17/2009

SEA BRIGHT

5/1/2009

BRIELLE

5/13/2009

MONMOUTH BEACH

12/4/2009

Address

2222 OCEAN AVE 2103 OCEAN AVE 804 ASHLEY AVE 117 BATTIN RD 31 SHREWSBURY DR 51 BLOSSOM COVE RD 100 RICHDALE RD 13 TRADEWINDS LN 1020 QUAIL PL 90 OCEAN AVE

SqFt

BR

YrBlt

WF

SalePrice

LPrice

OrgPrice

8,800

6

2007

OCEAN

$5,558,500

$6,999,900

$6,999,900

139/139

n/a

4

2000

OCEAN

$4,500,000

$5,400,000

$6,200,000

98/350

n/a

7

RIVER

$3,662,500

$3,999,999

$5,875,000

503/503

n/a

5

RIVER

$3,500,000

$3,750,000

$3,750,000

9/9

6,200

5

1998

RIVER

$3,300,000

$3,550,000

$3,750,000

160/160

n/a

5

2000

RIVER

$3,100,000

$3,950,000

$6,450,000

817/817

n/a

6

2009

RIVER

$3,031,000

$3,195,000

$3,195,000

58/58

5,500

5

2008

RIVER

$2,865,000

$3,149,999

$3,149,999

25/25

n/a

5

2007

RIVER

$2,189,000

$2,189,000

$2,995,000

206/206

5,098

7

1905

OCEAN

$2,160,000

$2,000,000

$2,895,000

224/224

Currently available waterfront properties: View all available waterfront homes listed above $1 million ~ all types.

View all available Oceanfront homes listed above $1 million.

View all available Riverfront homes listed above $1 million.

View all available Bayfront homes listed above $1 million.

2009 Luxury Home Market Report: Monmouth County Š 2010 Thomas McCormack. All rights reserved. All data provided by Monmouth County Association of Realtors. Information is deemed reliable but not guaranteed.

DOM/CDOM

14

LUXURY NEW CONSTRUCTION

Top ten highest selling new construction homes in Monmouth County in 2009 Town

SaleDate

SEA GIRT

6/30/2009

RUMSON

6/16/2009

COLTS NECK

8/17/2009

SEA BRIGHT

5/1/2009

HOLMDEL

7/22/2009

SEA GIRT

3/16/2009

RUMSON

4/30/2009

RUMSON

4/15/2009

RUMSON

6/18/2009

AVON BY THE SEA

9/18/2009

Address

210 PHILADELPHIA BL 5 TYSON LN 100 RICHDALE RD 13 TRADEWINDS LN 14 HOP BROOK LN 216 BEACON BLVD 21 CONOVER LN 1 BELKNAP LN 2 SUGAR MPALE LN 40 FIRST AVE

SqFt

BR

YrBlt

WF

SalePrice

LPrice

OrgPrice

5,000

6

2009

NO

$3,325,000

$3,399,000

$3,399,000

251/251

6,700

5

2009

NO

$3,250,000

$3,499,000

$3,499,000

182/182

n/a

7

2009

YES

$3,031,000

$3,195,000

$3,195,000

58/58

5,500

5

2008

YES

$2,865,000

$3,149,999

$3,149,999

25/25

7,870

5

2007

NO

$2,827,882

$2,474,000

$2,574,900

366/366

5,200

5

2008

NO

$2,803,740

$3,125,000

$3,125,000

123/197

n/a

4

2006

NO

$2,800,000

$2,999,000

$3,850,000

457/457

6,800

5

2008

NO

$2,650,000

$2,895,000

$2,975,000

25/25

5,200

5

2008

NO

$2,565,000

$2,600,000

$2,500,000

120/120

5,000

5

n/a

NO

$2,400,000

$2,650,000

$2,650,000

59/59

View all available new construction homes listed above $1 million.

2009 Luxury Home Market Report: Monmouth County © 2010 Thomas McCormack. All rights reserved. All data provided by Monmouth County Association of Realtors. Information is deemed reliable but not guaranteed.

DOM/CDOM

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For an honest, ongoing discussion about life and living in Monmouth County visit The Resourceful Realtor blog at www.ResourcefulRealtor.com.

For more information:

Thomas McCormack Sales Associate 732-212-0440 x212 ThomasMcCormack.com ResourcefulRealtor.com tom@thomasmccormack.com

Resources Real Estate 112 East River Road Rumson, NJ 07760 ResourcesRealEstate.com

All contents © 2010 Thomas McCormack. May not be excerpted or distributed without permission.

Data provided by Monmouth County Association of Realtors for period 1/1/2009 – 12/31/2009.

Sales data © 2010 Monmouth Association of Realtors.

2009 Luxury Home Market Report: Monmouth County © 2010 Thomas McCormack. All rights reserved. All data provided by Monmouth County Association of Realtors. Information is deemed reliable but not guaranteed.

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2009 Luxury Home Market Report: Monmouth County Š 2010 Thomas McCormack. All rights reserved. All data provided by Monmouth County Association of Realtors. Information is deemed reliable but not guaranteed.