August 2022 – Monmouth/Ocean County Real Estate Market Report

📈Let’s compare how the real estate market in Monmouth and Ocean counties performed in August compared to last year.

📉As summer comes to a close, many buyers are still hoping and waiting for the real estate market to cool off. The market does show signs of slowing BUT data shows we are still in a seller’s market. Things are just not *as* extreme as we have seen in the last year or two.

↗️Higher interest rates are still a concern for buyers and some have opted to wait to see if they go down before re-entering the market. However, some are using this time to continue searching, feeling hopeful with less competition, it will make it easier to finally secure a home after months of dealing with the buying frenzy.

📊Check out the infographics I created based on the information supplied by the Monmouth/Ocean Regional Realtors (MORR) as well as a current market snapshot taken from data from the Monmouth/Ocean MLS this morning.