Monmouth and Ocean County May Sales

Monmouth County single-family sales remain stable for the month of May on a year-to-year basis. Even though clothes sales dropped by 5.5% the number of new listings increased from 1263 to 1265 year of the year.
Median sales price also increased but only by 1.1% to $440,000. Inventory in Monmouth County also fell but just slightly by 3.6% to 3,020. Currently, the months supply of homes available is 5.2 months.

Monmouth County
Single Family Homes for May
Key Metrics    2018   2019   Change
New Listings  1,263   1,265  + 0.2%
Closed Sales     674      637   – 5.5%
DOM*              56        54      – 3.6%
Median PX     $435K  $440K  + 1.1%
% of PX      98.4%   97.9%    – 0.5%
Inventory     3,134  3,020   – 3.6%
Months Supply 5.2  5.2         %0
*Days on Market

Ocean County single-family sales skyrocketed for the month of May by 19% year-over-year.

New listings for Ocean County remained flat with 1,433 verses 1,427 in 2019.
Median sales price increased nearly 2% from $309,000 to $315,000. Inventory continues to slip and fell by 6.2% to 4,359 homes on the market versus to 4646 in 2018. Currently the month supply the single family homes in Ocean County is 6.2 months which is a 12.7% drop from 2018.

Ocean County
Single Family Homes for May
Key Metrics      2018     2019    Change
New Listings    1,433    1,427     + 3.2%
Closed Sales       678      690      + 3.1%
DOM*                72          74      – 5.2%
Median PX      $309K   $315K    + 2.3%
% PX Rec’d     97.1%     97.5%    + 0.9%
Inventory      4,646       4,359      – 6.4%
Month Supply   7.1          6.2       – 11.8%
*Days on Market

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