Let’s compare how the real estate market in Monmouth and Ocean counties performed in October 2020 compared to last year.
“It should start slowing down soon.”
That is what I figured would happen as we approach the fall holidays, but so far, that has not been the case.
I am still working with buyers encountering multiple offer situations, lots of cash transactions and real estate moving quickly.
As it has been in previous months, we continue to see lower levels of inventory, larger quantities of homes sold, an increase in pricing and decrease in the time a home stays on the market compared to October 2019.
Real Estate Market Reports
MONMOUTH COUNTY SPECIFIC:
Here is a breakdown of single-family home sales in Monmouth County, comparing towns from the start of the year to the present compared to the same time frame in 2019.
MONMOUTH COUNTY SPECIFIC:
Here is a breakdown of condo sales in Monmouth County, comparing towns from the start of the year to the present compared to the same time frame in 2019.
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MORR October 2020 Monthly Recap video below:
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Now with the holidays officially just weeks away, it will be interesting if we do see the slow down in buyer/sales until we begin 2021. With COVID-19 placing us in unprecedented times, we will have to continue to wait and see.
Interest rates are still INSANELY low and buyers abound, so if you are thinking of selling, now is a good time.
If you have specific questions about the market in your town, feel free to call me anytime!
Call me! 732-508-7402 #BuySellRentWithMC
