Monmouth Real Estate, Hot or Flat?
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Lets talk about Monmouth Real Estate today in 2015. We have completed 4 months of Home Sales. The data is very interesting. We had rough winters in both 2014 and 2015 and the Spring real estate market is really just starting to take off. The data (Monmouth Ocean MLS) shows pricing for single family homes is about the same and inventory is about the same (more about this in a minute) but DOM (days on the market) has shortened considerably. The Market shows in the same time the days on market has reduced from 176 days on the market to 107. Homes in the Monmouth Real Estate market are selling in 2 months shorter time then the same time last year............. the question is why?
Why are homes selling faster in 2015? It could be a couple things. The medias influence on housing trends, interest rates are still low, or people are just ready to buy. I believe people have now realized housing prices, especially in Monmouth County NJ, are not going to go down anymore and have begun to rise. With rates still low and prices going up this is a great time to buy and to sell. Lets talk about inventory and some real life stories recently regarding to the Monmouth Real Estate market.
- Monmouth Real Estate Map
Inventory of homes is LOW. If you are even thinking about selling contact us today! Just last week we listed a home in Freehold NJ, it was priced right and in good condition. We had people calling within 30 minutes of the home hitting the market. We had 12 showings in 2 days and the home sold right at asking price. This is happening in Freehold, Manalapan, Marlboro, Howell etc. There has also been multiple offers on some of our NJMLS listed properties, some selling over asking.
So is the current Monmouth Real Estate market hot or flat? Based on the late Spring market hitting just now, I would say it is definitely hot. So if you are a buyer find a good Realtor (we can help you here), who is on top of the market and will know as inventory hits the market. If you are a seller, the same applies. Price your home right which usually will net you the most money
If you have any additional questions please contact us at 732-927-1515 or email us at homeshoppeconsulting@gmail.com
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