This is an update on the current Manahawkin Real Estate Market.
Manahawkin Housing Market Summary: Year to Date in Comparison to Last Year: (Note – “year to date” is a direct comparison between the first 4 months of 2020 to 2019)
- Median List Price: Up 6.25%
- Median Sale Price: 3.77
- Median Days on Market: 40 (# of days on market before property sells)
- Sold Listings: 175, Up 12.9%
- Pending Sold Listings for the Month: Down 52.3%
- Active Listings for the Month: Down 43.7%
- New Listings for the Month: Down 65.5%
Market Activity: The Market Activity Report is a snapshot of all the changes in a local real estate market over the last 24 months
- Estimated Home Values: Up 4.8%
- Sales Price: Up 11.76%
- List Price: Up 14.02%
Bottom Line: While median list and sold prices have increased since the new year; active listings - that is homes that are on the market in May, is down by over 43%, a staggering number. We’re in new territory with the current factors that are driving the market and there are two ways to look at this: (1) take a “wait and see” attitude to evaluate when the market returns to normal OR (2) if other sellers are removing or postponing listing their house, your home has a better chance of rising to the top of a buyer's search list and being seen. Keep in mind, most sellers are only planning to delay the process by a couple of months. If you need to sell soon, don't wait for the competition to get back into the market again.
If you have any questions, please contact me at your convenience.
Karl Hess provides expert real estate services to residential buyers and sellers in Manahawkin and the surrounding communities. Contact us today for more information on Stafford Twp Real Estate and for professional assistance navigating this complex home market.