Monmouth County, NJ, is experiencing a dynamic housing market, showing significant growth and resilience compared to 2023.
Here’s an in-depth look at the current trends and key statistics for buyers, sellers, and renters.
Market Overview
In June 2024, the median listing home price in Monmouth County was $795,000, a 6.5% increase from the previous year. The median listing home price per square foot stands at $371. On average, homes in the area sold for approximately $660,800.
Key Metrics:
- Sale-to-List Price Ratio: 98.06%
- Average Sale Price: Homes sold for 1.94% below the asking price.
- Median Days on Market: 33 days
Market Trends
Homes in Monmouth County are selling faster compared to previous months, with the median days on market decreasing. This indicates a high demand and a competitive market environment, making it a favorable time for sellers.
Current Inventory
- Homes for Sale: 3,317 listings
- New Listings: 312 added in the past week
- Rentals: 1,903 rental properties, with monthly rents ranging from $900 to $100,000
Community Highlights
For Beach Lovers:
Monmouth County is renowned for its stunning beaches. Towns like Asbury Park, Manasquan, and Sea Girt attract visitors and residents alike with their beautiful shorelines and lively boardwalks.
Family-Friendly Focus:
Communities such as Wall Township and Spring Lake Heights offer spacious properties, excellent public schools, and a variety of neighborhoods. These areas provide easy access to beaches, marinas, and local restaurants, making them ideal for family life.
Cultural & Culinary Scene:
Asbury Park is a cultural hotspot with a diverse music scene, vibrant art world, trendy shops, and an eclectic mix of restaurants. It’s a paradise for foodies and culture enthusiasts.
Cost of Living Considerations
Monmouth County offers a high quality of life, and it comes with a higher cost of living compared to the national average. Housing costs, especially near the beachfront in towns like Avon, Belmar, and Spring Lake, can be significantly higher.
Embrace the Seasons
Monmouth County is lively in the summer andt also boasts off-season charm. Spring and fall offer mild weather and fewer crowds, while winter transforms the coastline into a tranquil wonderland.
School Systems
Monmouth County boasts some of the top-ranked public schools in the nation. Researching school districts in your chosen area is crucial to ensure they meet your family’s needs. Check out this link for the school performance report. https://www.nj.gov/education/schoolperformance/
Embrace the Local Flavor
Monmouth County’s culinary scene is diverse and vibrant. Don’t miss local favorites like fresh lobster, delicious pizza, boardwalk food stands, and homemade ice cream.
Monmouth County’s housing market continues to show resilience and growth. Whether you’re buying, selling, or renting, now is an opportune time to explore your options in this dynamic market. For personalized assistance, consider reaching out to a local real estate expert who can guide you through the process and help you find the perfect home in this vibrant community.
