Resources Real Estate - The Resources Report

E S O U C E SR E A L E S T A T E B R O K E R

the RESOURCESreport

Monmouth CountyReal Estate Market Report4th Quarter 2014

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Thomas McCormackManaging Partner - [email protected]

I won’t lie: winter is not my favorite season. Maybe it’s a function of age. Maybe it’s the result of getting tackled face down in a snow bank by our oversized St Bernard, Gretchen, when I was a kid. I’m not sure. Let’s just say I moved to the shore because it reminds me of summer even when there’s snow on the ground. I guess it’s all a matter of perspective.

Understanding where we are in the market is also sometimes about perspective: 2014 Monmouth County single-family sales were down 2.9% at year-end but that was a great improvement over being down 5.75% just three months prior ~ an improvement, yes, but still less than impressive at this point in the “recovery”. More definitively positive is the fact that the median sale price in 2014 was up 3% from 2013.

Clearly we at Resources are finding a way to rise above the fray with our single-family unit sales up 64% in 2014. Our ongoing commitment to technology continues to produce results with more and more consumers accessing our touch screen window displays. And our commitment to having Exceptional Agents has resulted in hiring some of the best agents in our local market.

We present this market report in the hope that it satisfies a need for clarity and perspective. If you have specific questions about your market area or about our report, please let us know. We’re happy to help.

Tom(* For the 12 month period ending with fourth quarter 2014.)

I am happy to say that I got an early start on 2015 as I was in Australia for New Year’s. It was a great way to start and I was able to visit several real estate offices there and in LA on my way back to beautiful Monmouth County.

As much as I love travel, meeting new people and seeing new sights, I never cease to marvel at the beauty of our area. The ice on the river reflecting the sunshine as I come across the Oceanic Bridge is breathtaking.

When I meet with other innovative brokers from around the globe I always marvel at the similarity of our passions, and commitment to client loyalty. Our ability to move quickly with the market benefits our clients. Our willingness to try “out of box” thinking is apparent in our International Innovative Marketing Award and the fact that we are shamelessly copied by other agencies in Monmouth County. If imitation is the sincerest form of flattery, then a big thank you to........................!!!

Carolynn

Carolynn Ozar-DiakonBroker - Senior [email protected]

resourcesrealestate.com cover image mobile website: bit.ly/atlhighlandswaterview

QUARTERLY REPORT2013 2014

1st Qtr 2nd Qtr 3rd Qtr 4th Qtr 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr

AtlAntic HigHlAnds

Number of Sales 6 14 14 19 9 10 18 4

Days on Market 223 106 90 116 105 176 52 131

Average Price $805,555 $656,374 $385,187 $475,960 $341,014 $488,902 $462,361 $494,874

Median Price $765,000 $542,350 $396,042 $404,133 $330,250 $412,792 $338,500 $389,750

Highest Price $1,150,000 $1,480,488 $745,000 $1,280,000 $510,000 $1,087,500 $1,475,000 $999,999

colts neck

Number of Sales 21 31 47 25 22 22 39 35

Days on Market 105 134 115 134 155 79 74 75

Average Price $786,751 $951,222 $783,952 $852,680 $681,766 $781,278 $1,078,418 $751,557

Median Price $634,375 $855,500 $673,150 $735,833 $572,283 $702,500 $725,000 $630,000

Highest Price $2,200,000 $3,750,000 $2,450,000 $1,765,000 $1,800,000 $1,580,000 $5,400,000 $1,900,000

FAir HAven

Number of Sales 16 23 39 30 19 31 23 20

Days on Market 93 74 85 71 105 53 101 75

Average Price $647,638 $932,338 $703,259 $919,854 $884,601 $778,042 $784,716 $837,650

Median Price $586,763 $711,500 $692,333 $711,500 $691,166 $691,333 $723,333 $783,750

Highest Price $1,352,000 $3,300,000 $1,479,000 $3,600,000 $2,250,000 $2,725,000 $2,250,000 $1,500,000

Holmdel

Number of Sales 22 38 58 38 21 37 43 35

Days on Market 117 105 70 92 75 91 79 106

Average Price $716,528 $828,609 $718,749 $757,560 $750,407 $707,379 $759,902 $793,439

Median Price $610,816 $698,500 $648,500 $694,167 $687,650 $642,417 $696,333 $675,000

Highest Price $1,750,000 $2,582,200 $1,852,150 $2,750,000 $1,400,000 $2,017,500 $2,267,582 $2,000,000

mobile website: bit.ly/459locustpoint

resourcesrealestate.com



little silver

Number of Sales 13 32 33 13 10 21 20 15

Days on Market 95 94 45 39 46 67 64 67

Average Price $577,394 $632,942 $726,596 $630,041 $601,875 $623,314 $814,755 $885,000

Median Price $561,667 $586,067 $611,721 $521,750 $616,167 $590,833 $765,666 $660,000

Highest Price $1,100,000 $1,575,000 $1,800,000 $1,670,000 $1,137,500 $1,170,000 $1,659,000 $2,450,000

long BrAncH

Number of Sales 19 36 38 29 27 30 40 34

Days on Market 115 128 119 85 152 124 146 115

Average Price $262,542 $277,010 $365,869 $302,180 $261,630 $293,631 $247,886 $305,461

Median Price $217,083 $240,500 $257,500 $248,300 $253,333 $282,800 $256,666 $282,500

Highest Price $1,187,500 $750,000 $1,220,295 $1,500,000 $484,000 $1,850,000 $3,051,000 $870,000

middletown

Number of Sales 103 163 208 148 77 166 185 151

Days on Market 87 99 67 77 91 89 66 77

Average Price $397,076 $441,599 $495,838 $450,906 $422,157 $471,400 $453,989 $414,826

Median Price $355,600 $397,500 $416,333 $425,000 $374,667 $370,000 $422,000 $366,100

Highest Price $1,352,000 $2,725,000 $6,100,000 $1,325,000 $1,835,000 $5,125,000 $2,700,000 $1,300,000

monmoUtH BeAcH

Number of Sales 4 5 15 13 5 12 6 14

Days on Market 73 113 109 131 83 53 55 122

Average Price $865,500 $863,100 $597,694 $900,311 $1,042,708 $919,103 $893,722 $1,046,696

Median Price $963,000 $863,100 $426,500 $862,207 $1,096,875 $782,083 $804,833 $975,000

Highest Price $1,315,000 $1,275,000 $1,800,000 $1,575,000 $2,125,000 $2,175,000 $1,575,000 $1,637,500

mobile website: bit.ly/80seneca




oceAnPort

Number of Sales 12 9 16 14 8 19 12 16

Days on Market 100 61 64 109 143 71 74 75

Average Price $396,075 $377,097 $526,507 $489,233 $579,000 $503,472 $523,015 $450,531

Median Price $372,167 $350,750 $382,417 $443,500 $510,917 $400,833 $533,166 $368,500

Highest Price $699,900 $770,000 $2,400,000 $805,000 $1,250,000 $1,950,000 $980,000 $1,025,000

red BAnk

Number of Sales 14 21 18 20 6 18 15 12

Days on Market 201 105 90 57 46 81 55 92

Average Price $251,867 $475,638 $497,644 $527,553 $426,583 $351,073 $382,985 $336,791

Median Price $264,583 $365,667 $388,000 $446,683 $422,166 $340,000 $387,666 $329,750

Highest Price $535,100 $2,550,000 $1,650,000 $2,281,700 $724,000 $760,000 $785,000 $500,000

rUmson

Number of Sales 20 32 38 38 17 31 30 30

Days on Market 93 87 86 79 115 86 71 59

Average Price $1,271,269 $1,063,287 $1,444,824 $1,178,908 $1,056,945 $1,202,513 $1,486,825 $1,292,716

Median Price $1,095,833 $857,417 $1,358,417 $855,166 $1,127,500 $980,833 $1,467,500 $1,022,000

Highest Price $3,034,000 $3,175,000 $3,200,000 $5,600,000 $2,125,000 $3,550,000 $3,125,000 $4,300,000

sHrewsBUry

Number of Sales 6 8 12 10 5 9 17 11

Days on Market 86 150 63 89 154 53 59 64

Average Price $348,944 $653,633 $425,450 $664,436 $638,333 $460,711 $592,920 $583,772

Median Price $328,500 $667,250 $444,167 $664,150 $640,000 $484,000 $566,750 $550,000

Highest Price $490,000 $960,000 $515,000 $875,000 $950,000 $837,000 $982,500 $750,000


mobile website: bit.ly/277prospect


mobile website: bit.ly/atlhighlandswaterviewANNUAL REPORT

2013 2014%

Change

monmoUtH coUnty

Number of Sales 5192 5036 -3

Days on Market 91 80 -12

Average Price $480,350 $507,047 6

Median Price $384,148 $399,000 4

Highest Price $6,425,000 $7,500,000 17

FAir HAven



Average Price $805,139 $827,075 3

Median Price $667,000 $700,000 5

Highest Price $3,600,000 $2,725,000 -24

Holmdel



Average Price $757,940 $748,302 -1

Median Price $658,500 $680,000 3

Highest Price $2,750,000 $2,263,582 -18

2013 2014%

Change 2013 2014%

Change

AtlAntic HigHlAnds



Average Price $522,798 $470,923 -10

Median Price $420,000 $369,000 -12

Highest Price $1,480,488 $1,475,000 0

colts neck



Average Price $831,089 $863,951 4

Median Price $672,500 $683,750 2

Highest Price $3,750,000 $5,400,000 44

Monmouth CountyPrice Comparisons

mobile website: bit.ly/112lippincott


ANNUAL REPORT

2013 2014%

Change

little silver



Average Price $670,679 $756,579 13

Median Price $555,000 $670,000 21

Highest Price $1,800,000 $2,450,000 36

long BrAncH

Number of Sales 122 132 8

Days on Market 117 125 7

Average Price $311,803 $278,456 -11

Median Price $236,000 $267,000 13

Highest Price $1,500,000 $870,000 -42

middletown



Average Price $456,357 $447,072 -2

Median Price $399,250 $388,000 -3

Highest Price $6,100,000 $5,125,000 -16

monmoUtH BeAcH



Average Price $766,947 $983,860 28

Median Price $634,000 $850,000 34

Highest Price $1,800,000 $2,175,000 21

2013 2014%

Change

oceAnPort


Days on Market 84 87 4

Average Price $446,027 $506,890 14

Median Price $375,000 $410,000 9

Highest Price $2,400,000 $1,950,000 -19

red BAnk



Average Price $435,018 $374,631 -14

Median Price $333,500 $335,000 0

Highest Price $2,550,000 $785,000 -69

rUmson



Average Price $1,280,255 $1,285,986 0

Median Price $1,070,000 $1,130,000 6

Highest Price $5,600,000 $4,300,000 -23

sHrewsBUry



Average Price $501,629 $561,559 12

Median Price $480,500 $550,000 14

Highest Price $960,000 $982,500 2

E S O U C E SR E A L E S T A T E B R O K E R

112 East River Road 36 Beach Rd Suite 3 4A West Front St 65 First AveRumson, NJ 07760 Monmouth Beach, NJ 07750 Red Bank, NJ 07701 Atlantic Highlands, NJ 07716

732-212-0440 resourcesrealestate.com

Information deemed reliable but not guaranteed. Data as of 1/7/15.Copyright 2015 by the Monmouth County Association of REALTORS®

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Resources Real Estate - The Resources Report

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