OCEAN COUNTY OCTOBER 2017
The new listings for single family homes jumped in October by 9.6%. The days-on-market metrics are showing that more buyers are snapping-up what is out there, while the median price received climbed by 9.8%. Inventory continues to be a major factor, which posted a 15.8% drop, and with the months-of-supply falling as well by 22.2% as compared to 2016.
Single Family October 2017
Key Market Metrics 2016 2017 Change
■ New Listings 905 992 + 9.6%
■ Closed Sales 627 639 + 1.9%
■ DOM* 95 84 – 11.6%
■ Median Px $287K $315K + 9.8%
■ % of Px Rec’d 96.4% 97.0% + 0.6%
■ Inventory 4,864 4,095 – 15.8%
■ Months of Inventory 8.1 6.3 – 22.2%
* Days on Market Until Sale
MONMOUTH OCTOBER 2017
Monmouth County new listings of single family homes jumped, year-over-year, by 2.4%. Closed sales for single family homes also grew by 4.9%, but where the numbers began to show real strength came in the days on market metrics, which fell by 11.8& year-over-year.
Inventory continues to get crushed, falling by nearly 22% as compared with 2016, and the months-supply-of-homes also fell precipitately by nearly 30% as compared to 2016. This is clearly a seller’s market in Monmouth and projections are pointing to a strong start for 2018.
Single Family October 2017
Key Market Metrics 2016 2017 Change
■ New Listings 832 852 + 9.6%
■ Closed Sales 535 564 + 4.9%
■ DOM* 72 64 – 11.1%
■ Median Px $400K $415K + 3.8%
■ % of Px Rec’d 96.2% 97.2% + 1.0%
■ Inventory 3,595 2,808 – 21.9%
■ Months of Inventory 6.7 4.7 – 29.9%
* Days on Market Until Sale
ABOUT COUNSELLORS TITLE AGENCY
Since 1996, Counsellors Title Agency has provided swift, proven and knowledgeable title insurance settlement and search expertise for thousands of New Jersey’s attorneys, loan officers, Realtors, borrowers and purchasers. CTA’s detail-oriented team of professionals streamlines the complexities of a real estate transaction to make each one stress and glitch-free.
If you have any questions about this information or title insurance, please contact Ralph Aponte: 732.914.1400.