Real Estate Market Trends

Marlboro Township: More Single Family Detached Homes For Sale in 2017

We have been struggling with low inventories of homes for a long time now.  The lack of available homes has affected prices as well as sales and market times, and has been frustrating for buyers competing for their dream home.

We have a bit of good news in the Single Family Detached category of homes in Marlboro Township . . . new listings have increased by 23.3% for the first four months of 2017 compared to the same period last year.  As a result, closed sales have also increased by 52.7%.  It is taking on average 73 days from listing to sale, down by 10 days from last year, and the median sales price in Marlboro Township (including Morganville) was $508,000.  At the end of April there was 6.1 months supply of inventory, which is considered a 'normal' level of inventory for a healthy real estate market.

Manalapan Single Family Home Sales Up 26.7% in First Quarter 2017

It's good to keep up with what's happening in the real estate market in your community, whether or not you are currently in the market to buy or sell.  Residential and commercial real estate activity affects the overall economic health of the community in many ways.

Here are the most significant single-family detached homes statistics for Manalapan Township's housing market, provided by the New Jersey Association of Realtors®, comparing the first quarter of 2017 to the first quarter of 2016:

What Will Fuel Housing Demand Growth For The Next 10 Years?

A Mortgage Bankers Association study has estimated that between 13.9 and 15.9 million additional households will be formed by 2024, making the next ten years one of the strongest periods of growth in housing in U.S. history.

In their white paper, Housing Demand: Demographics and the Numbers Behind the Coming Multi-Million Increase in Households, the MBA’s researchers conclude that the housing demand surge will be driven by Hispanics, Baby Boomers, and Millennials.  They report that household formation has been depressed recently by unfavorable economic conditions, and that improving employment markets as well as major demographic trends will create strong growth in both owner and rental housing over the next decade.

Monmouth County Housing Market Update -- May 2016

The real estate market keeps moving forward in Monmouth County, and we are busy helping buyers buy and sellers sell.  Year to date through the end of April we have seen significant increases in sales of single family detached homes, townhomes, condos, and homes in adult communities.

Lets take a look at the significant market statistics through the end of April 2016, compared to the same period in 2015.  Here's a quick visual to sum it up:

So now lets drill down and look at the actual statistics for single family detached homes, townhomes/condos, and adult community homes.

Monmouth County Housing Market Update -- January 2016

Steady growth in the Monmouth County housing market is what we should expect in 2016.  Here are some of the fast facts from the latest real estate market statistics report for January 2016, provided by New Jersey REALTORS®.  We have separate statistics for Single Family Detached Homes, Condos & Townhomes, and homes in Adult Communities.  

  ►  Key Metrics for Single Family Detached Homes in Monmouth County - January 2016 compared to January 2015:

  • Closed sales were up 47.1%, from 244 in January of 2015 to 359 in January 2016.
  • The median sales price remained about the same at $370,000, as did the days on market until sale at 91 days.
  • 804 new listings entered the market last month, up slightly from January of 2015.
  • The inventory of available homes for sale was down 14.7%, to 2,883 homes, which represents a 5.9 months' supply.

Monmouth County Real Estate Market Statistics Year-End 2015

Let's take a quick look at what happened in the real estate market in Monmouth County for the year 2015 compared to 2014.  

Across all residential property types -- Single Family Detached Homes, Townhomes/Condos, and Adult Community Homes -- there were consistencies of note.  All three categories had increases in new listings, closed sales, and median sales prices.  All three categories also had decreases in days on market and inventories.  

We're entering into 2016 with low inventories and moderately-increasing prices.  Buyers looking for homes in Monmouth County should not hesitate to view and make offers on homes that meet their requirements as we expect clean, well-maintained homes that are priced fairly will continue to sell quickly and the best homes will often receive multiple offers.

Let's take a closer look at what happened in each of the residential real estate categories:

Monmouth County Real Estate Market Update -- October 2015

The real estate market keeps moving forward in Monmouth County, and the agents are busy helping buyers buy and sellers sell.  

Lets take a look at the significant market statistics through the end of September 2015, compared to the same period in 2014.  Here's a quick visual to sum it up:

So now lets drill down and look at the actual statistics for single family detached homes, townhomes/condos, and adult community homes.

Monmouth County Real Estate Market Update -- August 2015

Lets take a look at the Monmouth County real estate market statistics for Single Family Detached Homes, Townhouses/Condos, and Adult Community Homes comparing year-to-date through August 2015 to the same period in 2014.

Overall the real estate market has provided many good opportunities for buyers as well as sellers and has kept us all busy helping our clients achieve their goals.