In Monmouth County, the real estate market remained active in July, with homes selling at a median rate of just 32 days on the market, compared to the national median of 50 days. This is only a slight increase from June, when the median time on the market was 31 days. The county also saw a significant influx of new listings, with 852 homes hitting the market—a 15.8% increase from the 736 new listings in July 2023.
Median home prices, as reported by Realtor.com, provide a snapshot of the market, but it’s important to note that these figures might not reflect the entire market. They typically include single-family homes, condominiums, and townhomes, while excluding most new constructions, as well as pending and contingent sales.
Across the broader New York-Newark-Jersey City metro area, the median home price dropped slightly to $777,000. The typical home in this area offered 1,572 square feet of space, translating to a list price of $534 per square foot.
In New Jersey as a whole, the median home price remained steady at $599,000 from June to July. The average New Jersey home listed for sale in July had 1,762 square feet, with a price of $310 per square foot.
The real estate market in Monmouth County is clearly competitive, with homes selling quickly and new listings on the rise. If you’re considering buying or selling in this fast-paced market, now is the time to act. Reach out to a local real estate expert to explore your options and make informed decisions.
Here are the most expensive ZIP codes in New Jersey and where they fit into the top 250, based on Zillow’s most recent data. These numbers, released in mid-July, represent home values through June of 2024:
25. Deal (07723), Monmouth County
Typical home value: $3,669,176
47. Alpine (07620), Bergen County
Typical home value: $2,994,298
72. Avalon (08202) Cape May County
Typical home value: $2,571,839
83. Stone Harbor (08247), Cape May County
Typical home value: $2,355,265
114. Short Hills (07078), Essex County
Typical home value: $2,148,077
118. Allenhurst (07771), Monmouth County
Typical home value: $2,123,985
122. Sea Girt (08750), Monmouth County
Typical home value: $2,088,272
124. Mantoloking (08738), Ocean County
Typical home value: $2,082,745
137. New Vernon (07976), Morris County
Typical home value: $2,015,497
210. Avon by the Sea (07717), Monmouth County
Typical home value: $1,724,248
242. Long Beach Township (08008), Ocean County
Typical home value: $1,637,224
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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