The Resources Report: 4th Quarter 2014 Market Report

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