Check the Facts
A recent Asbury Park Press article stated that Monmouth County median home listed prices crossed the $800,000 threshold. Back in December 2023, the median sales price for a home in Monmouth County, according to New Jersey Realtor, was $670,000, which was up from 2022, with a price of $615,000. But now the Asbury Park Press is quoting that the median home price in Monmouth County listed for $808,750 in January 2024. There are so many reports running through the market that it’s hard to actually know what true market value is.
The Asbury Park Press stated that their statistics pertained only to houses listed for sale in Monmouth County, not that were sold. This makes such data difficult to accept since the median sales price and the listed-for-sale price appear to be at odds with each other.
According to the Asbury Park Press, Monmouth County’s median home was 1,960 sq ft, which listed its value at $388 per square foot.
There are also some discrepancies with respect to what the Asbury Park Press said about what Realtor.com said about Monmouth County. Realtor.com published that the home price in Monmouth County was $371 a square foot. They also posted that the median home price sold in January was $635,000. This all leads us to make sure that we go the extra mile and do our research, looking at various sources to find those sources that best represent what the actual market looks like.
Meanwhile Rocket Homes reported that median home price in Monmouth County, New Jersey was $609,000 or $320 a square foot.
All of this cautions us to do our own research always.
If you have any questions about this information or title insurance, please contact Ralph Aponte: 732.914.1400.
Counsellors Title Agency, www.counsellorstitle.net, founded in 1996, is one of New Jersey’s most respected title agencies, serving all 21 New Jersey counties with title insurance, clearing title, escrow, tidelands searches, and closing and settlement services for commercial or industrial properties, waterfront properties and marinas, condominiums, townhouses or residential single-family homes. Counsellors Title also features its own Attorney Settlement Assistance Program™ [ASAP], which is an individual resource customized to fit the needs specifically of real estate attorneys, including, Documentation, Preparation, Disbursement of Funds, Attendance at Closing, HUD Preparation or Post-Closing Matters.
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