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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


The Resources Report