Monthly market reports
📈 Let’s compare how the real estate market in Monmouth and Ocean counties performed in May compared to last year. COVID-19 continues to have an effect on the real estate market, but we did see an increase in the number of listed homes from last month. In April 2020, there were 560 new homes listed in Monmouth County, while May new listings increased to 1,167. In Ocean County, there were 680 new homes listed in April 2020, while in May that number increased to 1294. The number of listings are down from 2019 by about 27-31%, but the data shows, the housing market is still moving.
As we continue to deal with low inventory levels and buyers wanting to take advantage of low-interest rates, we have seen an increase in buyer demand. As one article from Forbes.com stated, Monmouth County saw a 22% increase in demand. These factors might suggest why the average sales price continues to rise in almost every category on the graph below.
If you have specific questions about the market in your town, feel free to call me anytime and I can send you an analysis.
🏠Check out the infographic below for more details!
