Monmouth County
Single Family Homes for December
Key Metrics 2024 2025 Change
New Listings 461 268 – 46.2%
Closed Sales 494 460 – 6.9%
DOM* 42 37 – 11.9%
Median PX $702K $755K + 9.0%
% of PX 100.4% 100.4% + 0.0%
Inventory 1,320 765 – 40.5%
Months Supply 2.4 1.5 – 37.5%
*Days on Market
Ocean County
Single Family Homes for December
Key Metrics 2024 2025 Change
New Listings 403 372 – 7.7%
Closed Sales 510 497 – 2.5%
DOM* 41 45 + 9.8%
Median PX $560K $585K + 4.5%
% PX Rec’d 99.0% 99.0% + 0.0%
Inventory 1,239 1,101 – 11.1%
Month Supply 2.5 2.2 – 12.0%
*Days on Market
Special Analysis for Monmouth County
Here’s a read on what this data is really saying, beyond the surface stats.
Monmouth County’s December single-family market is still tight, but it’s starting to show behavioral shifts rather than structural weakness. The headline story is scarcity: new listings down 46% year over year and inventory down over 40%. That’s an enormous contraction in available supply, and it’s the main reason prices are still rising even as you’re seeing more price cuts at the listing level.
The median sale price being up 9% year over year to $755K, combined with homes still selling at 100.4% of list price, tells us demand hasn’t disappeared. Buyers are still competing once a home is perceived as “right.” The faster days on market (37 vs. 42) reinforces that properly priced homes are still moving quickly. This is not a market where buyers suddenly have leverage across the board.
Where things have changed is seller psychology. With months of supply at 1.5 — still firmly a seller’s market — many sellers appear to be anchoring to peak-market expectations from earlier periods. When those aspirational prices meet today’s more rate-sensitive buyers, listings sit just long enough to force price adjustments. That’s why you’re seeing more price cuts even though closed sales are only down about 7% and pricing metrics remain strong. These cuts are often corrective, not desperate.
The sharp drop in new listings is also important context for interpreting price reductions. Fewer sellers are willing to list unless they believe they can command top dollar. When those expectations aren’t met immediately, they adjust rather than withdraw — which creates the appearance of softening without actual excess supply. If this were a true downturn, you’d expect rising inventory, longer DOM, and declining sale-to-list ratios. None of that is happening.
Trajectory-wise, this looks like a tight but more selective market heading into 2025. Prices are likely to remain supported, but gains should moderate as buyers push back on overpricing. Expect more “micro-corrections” at the listing level, not broad declines in closed-sale prices. Sellers who price accurately from day one will continue to do very well; those who overshoot will chase the market slightly before landing where buyers are.
In short: Monmouth County isn’t weakening — it’s recalibrating. The leverage still favors sellers structurally, but tactically, buyers are less forgiving of optimism, and that’s where the recent price cuts are coming from.