E S O U C E SR E A L E S T A T E B R O K E R

the RESOURCESreport

Monmouth CountyReal Estate Market Report3rd Quarter 2014

the RESOURCESreport

Thomas McCormackManaging Partner - Brokertom@resourcesrealestate.com

I for one am sorry to see the passing of this recent summer season… truly it was one of my favorite summers since moving here from NYC almost 15 years ago. And perhaps instead of actively pursuing a new home, too many would-be buyers found themselves heading to the beach, biking in Hartshorne Woods or enjoying the endless schedule of food festivals, outdoor concerts and other events that make living in Monmouth County such a pleasure.

Whatever the cause, we found 3rd quarter Monmouth County single-family home sales were somewhat lackluster with 9 out of 12 towns in our market survey showing fewer sales than 3rd quarter last year. Indeed, overall Monmouth County single-family unit sales are down 5.75% year-to-date. On a brighter note, the county’s median sale price for the 12-month period ending in September was almost 4% higher than the same period in the previous year so homeowner equity continues to rebound from the hit taken during the recession. Despite what we are seeing elsewhere in the market at large, we’re proud to report that Resources sales year-to-date are up over 77% over last year for our listing clients.

I hope you enjoy reviewing this edition of our market report and encourage you to forward any questions you may have about the market regardless of whether you have any immediate plans to make a move. We enjoy providing a clear and independent focus on our local market.

Tom

(* For the 12 month period ending with third quarter 2014.)

Writing this from Boston at the Who’s Who in Luxury Real Estate annual Fall conference, where we are excited to be nominated in seven categories:Best Website

Best Website, Best Digital Marketing, Best Brand Integration, Extraordinary Philanthropist, Outstanding Social Media Savvy, Best Overall Marketing Package, Most Innovative Marketing Technique.

Every time I come to a conference I realize how much I can learn each day by asking questions. Even though I have been in the real estate business for 28 years, I still love learning. SO much has changed since I started Resources Real Estate in 2000, the technology especially. Thank goodness I enjoy learning, because in the Instagram, Twitter, Pinterest world that we live in these have been invigorating marketing avenues to market our listings and deliver our quarterly market report and our digital magazine. Exciting as it is to institute new technologies in our business — it still comes back to quality of service. The outcome of the transaction to the satisfaction of our clients. That will never change.

Looking forward to pumpkins, hot chocolate and nights in front of the fire in the coming months (albeit on my computer ) and look forward to sending you the final report for 2014. Please feel free to contact me directly carolynn@resourcesrealestate.com if you have any question about the report or to research your town.

Carolynn

Carolynn Ozar-DiakonBroker - Senior Partnercarolynn@resourcesrealestate.com

resourcesrealestate.com cover image mobile website: bit.ly/445drivewayocp

QuARTERLY REPORT2013 2014

1st Qtr 2nd Qtr 3rd Qtr 4th Qtr 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr

AtlAntic HigHlAnds

Number of Sales 6 14 14 19 9 10 18

Days on Market 223 106 90 116 105 176 52

Average Price $805,555 $656,374 $385,187 $475,960 $341,014 $488,902 $462,361

Median Price $765,000 $542,350 $396,042 $404,133 $330,250 $412,792 $338,500

Highest Price $1,150,000 $1,480,488 $745,000 $1,280,000 $510,000 $1,087,500 $1,475,000

colts neck

Number of Sales 21 31 47 25 22 22 39

Days on Market 105 134 115 134 155 79 74

Average Price $786,751 $951,222 $783,952 $852,680 $681,766 $781,278 $1,078,418

Median Price $634,375 $855,500 $673,150 $735,833 $572,283 $702,500 $725,000

Highest Price $2,200,000 $3,750,000 $2,450,000 $1,765,000 $1,800,000 $1,580,000 $5,400,000

FAir HAven

Number of Sales 16 23 39 30 19 31 23

Days on Market 93 74 85 71 105 53 101

Average Price $647,638 $932,338 $703,259 $919,854 $884,601 $778,042 $784,716

Median Price $586,763 $711,500 $692,333 $711,500 $691,166 $691,333 $723,333

Highest Price $1,352,000 $3,300,000 $1,479,000 $3,600,000 $2,250,000 $2,725,000 $2,250,000

Holmdel

Number of Sales 22 38 58 38 21 37 43

Days on Market 117 105 70 92 75 91 79

Average Price $716,528 $828,609 $718,749 $757,560 $750,407 $707,379 $759,902

Median Price $610,816 $698,500 $648,500 $694,167 $687,650 $642,417 $696,333

Highest Price $1,750,000 $2,582,200 $1,852,150 $2,750,000 $1,400,000 $2,017,500 $2,267,582

mobile website: bit.ly/35columbusdr

resourcesrealestate.com

QuARTERLY REPORT2013 2014

1st Qtr 2nd Qtr 3rd Qtr 4th Qtr 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr

little silver

Number of Sales 13 32 33 13 10 21 20

Days on Market 95 94 45 39 46 67 64

Average Price $577,394 $632,942 $726,596 $630,041 $601,875 $623,314 $814,755

Median Price $561,667 $586,067 $611,721 $521,750 $616,167 $590,833 $765,666

Highest Price $1,100,000 $1,575,000 $1,800,000 $1,670,000 $1,137,500 $1,170,000 $1,659,000

long BrAncH

Number of Sales 19 36 38 29 27 30 40

Days on Market 115 128 119 85 152 124 146

Average Price $262,542 $277,010 $365,869 $302,180 $261,630 $293,631 $247,886

Median Price $217,083 $240,500 $257,500 $248,300 $253,333 $282,800 $256,666

Highest Price $1,187,500 $750,000 $1,220,295 $1,500,000 $484,000 $1,850,000 $3,051,000

middletown

Number of Sales 103 163 208 148 77 166 185

Days on Market 87 99 67 77 91 89 66

Average Price $397,076 $441,599 $495,838 $450,906 $422,157 $471,400 $453,989

Median Price $355,600 $397,500 $416,333 $425,000 $374,667 $370,000 $422,000

Highest Price $1,352,000 $2,725,000 $6,100,000 $1,325,000 $1,835,000 $5,125,000 $2,700,000

monmoUtH BeAcH

Number of Sales 4 5 15 13 5 12 6

Days on Market 73 113 109 131 83 53 55

Average Price $865,500 $863,100 $597,694 $900,311 $1,042,708 $919,103 $893,722

Median Price $963,000 $863,100 $426,500 $862,207 $1,096,875 $782,083 $804,833

Highest Price $1,315,000 $1,275,000 $1,800,000 $1,575,000 $2,125,000 $2,175,000 $1,575,000

mobile website: bit.ly/52riverdale

resourcesrealestate.com

QuARTERLY REPORT2013 2014

1st Qtr 2nd Qtr 3rd Qtr 4th Qtr 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr

oceAnPort

Number of Sales 12 9 16 14 8 19 12

Days on Market 100 61 64 109 143 71 74

Average Price $396,075 $377,097 $526,507 $489,233 $579,000 $503,472 $523,015

Median Price $372,167 $350,750 $382,417 $443,500 $510,917 $400,833 $533,166

Highest Price $699,900 $770,000 $2,400,000 $805,000 $1,250,000 $1,950,000 $980,000

red BAnk

Number of Sales 14 21 18 20 6 18 15

Days on Market 201 105 90 57 46 81 55

Average Price $251,867 $475,638 $497,644 $527,553 $426,583 $351,073 $382,985

Median Price $264,583 $365,667 $388,000 $446,683 $422,166 $340,000 $387,666

Highest Price $535,100 $2,550,000 $1,650,000 $2,281,700 $724,000 $760,000 $785,000

rUmson

Number of Sales 20 32 38 38 17 31 30

Days on Market 93 87 86 79 115 86 71

Average Price $1,271,269 $1,063,287 $1,444,824 $1,178,908 $1,056,945 $1,202,513 $1,486,825

Median Price $1,095,833 $857,417 $1,358,417 $855,166 $1,127,500 $980,833 $1,467,500

Highest Price $3,034,000 $3,175,000 $3,200,000 $5,600,000 $2,125,000 $3,550,000 $3,125,000

sHrewsBUry

Number of Sales 6 8 12 10 5 9 17

Days on Market 86 150 63 89 154 53 59

Average Price $348,944 $653,633 $425,450 $664,436 $638,333 $460,711 $592,920

Median Price $328,500 $667,250 $444,167 $664,150 $640,000 $484,000 $566,750

Highest Price $490,000 $960,000 $515,000 $875,000 $950,000 $837,000 $982,500

resourcesrealestate.com

mobile website: bit.ly/135bingham

resourcesrealestate.com

mobile website: bit.ly/112lippincottANNuAL REPORT

2012 2013%

Change

monmoUtH coUnty

Number of Sales 4601 5192 13

Days on Market 107 91 -15

Average Price $472,637 $480,350 2

Median Price $371,875 $384,188 3

Highest Price $7,300,000 $6,425,000 -12

FAir HAven

Number of Sales 91 108 19

Days on Market 90 79 -12

Average Price $735,940 $805,139 9

Median Price $698,833 $667,000 -5

Highest Price $3,500,000 $3,600,000 3

Holmdel

Number of Sales 150 156 4

Days on Market 118 92 -22

Average Price $678,630 $757,940 12

Median Price $643,212 $658,500 2

Highest Price $1,975,000 $2,750,000 39

2012 2013%

Change 2012 2013%

Change

AtlAntic HigHlAnds

Number of Sales 45 53 18

Days on Market 107 120 12

Average Price $434,129 $522,798 20

Median Price $345,396 $420,000 22

Highest Price $1,650,000 $1,480,488 -10

colts neck

Number of Sales 87 124 43

Days on Market 117 121 3

Average Price $889,336 $831,089 -7

Median Price $672,345 $672,500 0

Highest Price $4,450,000 $3,750,000 -16

Monmouth County Price Comparisons

mobile website: bit.ly/108heulitt

resourcesrealestate.com

ANNuAL REPORT

2012 2013%

Change

little silver

Number of Sales 67 91 36

Days on Market 106 75 -29

Average Price $564,014 $670,679 19

Median Price $514,270 $555,000 8

Highest Price $1,800,000 $1,800,000 0

long BrAncH

Number of Sales 90 122 36

Days on Market 167 117 -30

Average Price $254,966 $311,803 22

Median Price $205,000 $236,000 15

Highest Price $1,900,000 $1,500,000 -21

middletown

Number of Sales 526 624 19

Days on Market 89 80 -10

Average Price $450,668 $456,357 1

Median Price $374,937 $399,250 6

Highest Price $7,300,000 $6,100,000 -16

monmoUtH BeAcH

Number of Sales 46 37 -20

Days on Market 135 119 -12

Average Price $879,905 $766,947 -13

Median Price $851,079 $634,000 -26

Highest Price $1,620,000 $1,800,000 11

2012 2013%

Change

oceAnPort

Number of Sales 58 51 -12

Days on Market 116 84 -28

Average Price $452,924 $446,027 -2

Median Price $394,500 $375,000 -5

Highest Price $1,200,000 $2,400,000 100

red BAnk

Number of Sales 58 74 28

Days on Market 80 109 36

Average Price $339,447 $435,018 28

Median Price $301,245 $333,500 11

Highest Price $1,640,000 $2,550,000 55

rUmson

Number of Sales 101 129 28

Days on Market 128 80 -38

Average Price $1,287,289 $1,280,255 -1

Median Price $1,171,833 $1,070,000 -9

Highest Price $4,090,000 $5,600,000 37

sHrewsBUry

Number of Sales 48 36 -25

Days on Market 88 87 -1

Average Price $503,429 $501,629 0

Median Price $481,950 $480,500 0

Highest Price $1,300,000 $960,000 -26

E S O U C E SR E A L E S T A T E B R O K E R

112 East River Road 36 Beach Rd Suite 3 4A West Front St 65 First AveRumson, NJ 07760 Monmouth Beach, NJ 07750 Red Bank, NJ 07701 Atlantic Highlands, NJ 07716

732-212-0440 resourcesrealestate.com

Information deemed reliable but not guaranteed. Data as of 10/7/14.Copyright 2014 by the Monmouth County Association of REALTORS®

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