$811,500. $610,000. TWO SHORE COUNTIES. TWO DIFFERENT MARKETS.
That’s the median single-family sale price in Monmouth and Ocean County for September. Same coastline, $201,500 apart, and the trend lines aren’t moving together. Here’s what’s behind the numbers.
Monmouth is still climbing.
The median single-family price rose 2.7% year over year to $811,500. Homes took 31 days to sell, down from 34 a year ago. Sellers received 100.9% of asking. Inventory sits at 1,280 homes, about 3 months of supply. Year to date, the median is up 5.2% to $810,000.
Ocean is giving a little back.
The median single-family price slipped 1.6% to $610,000. Homes still moved faster, 33 days versus 39 last year, and sellers got 99.9% of asking. Closed sales dropped 9.4% to 494. Year to date, the median is still up 3.1% at $629,000.
The condo and townhouse side of Ocean is where it gets interesting.
The median jumped 20.8% to $414,495. Inventory rose 23.7% to 261 homes, and months of supply climbed to 4.2. Those homes took 52 days to sell, up from 44. Higher prices and more choice at the same time. In Monmouth, the same category rose 6.9% to $566,600 with homes selling in 29 days.
The takeaway.
Fast doesn’t mean flat, and flat doesn’t mean slow. Both counties are selling quicker than last September, yet one is still pushing price and the other is holding steady. Pricing a Jersey Shore home off a county-wide headline is how listings sit. Price it off the street, the town, and what closed last month.
Thinking about a move at the Shore? We’ll run the numbers on your town and your timeline. Message us or call us office at 267-246-9729.
Another deal. Another Bograd Experience.
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