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:

  • 154 new listings were taken in the first quarter of 2016, compared to 149 in 2017, so new listings were down slightly, by 3.2%
  • There were also less listings overall, with only a 3.4 months supply of inventory, 105 active homes for sale at the end of March
  • In spite of the decrease in homes available to buy, closed sales were up 26.7% in 2017, evidence that buyers are buying in spite of the diminishing selection
  • The average days on the market decreased significantly, from 89 days in 2016 to 58 days this year. Attractive properties are selling fast.
  • The median sales price for the first quarter of 2017 was $440,000.  It was $490,000 for the first quarter of 2016, but that may have more to do with what is available to purchase than any kind of comparison of home values.

If you have questions about the real estate market in Manalapan, Monmouth County, or surrounding communities, talk to a CENTURY 21 Mack Morris Iris Lurie real estate professional.  Our agents are on top of what's happening in your neighborhood.