The Long & Foster Market Minute

Focus On: Monmouth County Housing Market September 2021

Units Sold
905
Active Inventory
1,598
Median Sale Price
$565,000
Days On Market
25
Down -20%
Vs. Year Ago
Down -37%
Vs. Year Ago
Up 15%
Vs. Year Ago
Down -46%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in September, with 905 sold this month in Monmouth County Real Estate versus 959 last month, a decrease of 6%. This month's total units sold was lower than at this time last year, a decrease of 20% versus September 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 953 units or 37%. The total number of active inventory this September was 1,598 compared to 2,551 in September 2020. This month's total of 1,598 is lower than the previous month's total supply of available inventory of 1,824, a decrease of 12%.

Median Sale Price
Last September, the median sale price for Monmouth County Homes was $491,000. This September, the median sale price was $565,000, an increase of 15% or $74,000 compared to last year. The current median sold price is 4% higher than in August.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
954
Current Contracts
896
Sold Vs. List Price
101.1%
Months of Supply
1.8
Down -32%
Vs. Year Ago
Down -18%
Vs. Year Ago
Up 3.3%
Vs. Year Ago
Down -21%
Vs. Year Ago

Months of Supply
In September, there was 1.8 months of supply available in Monmouth County, compared to 2.2 in September 2020. That is a decrease of 21% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 954 homes newly listed for sale in Monmouth County compared to 1,396 in September 2020, a decrease of 32%. There were 896 current contracts pending sale this September compared to 1,091 a year ago. The number of current contracts is 18% lower than last September.

Sale Price to List Price Ratio
In September, the average sale price in Monmouth County was 101.1% of the average list price, which is 3.2% higher than at this time last year.

Days on Market
This month, the average number of days on market was 25, lower than the average last year, which was 46, a decrease of 46%.

The Long & Foster Market Minute Monmouth County are defined as properties listed in zip code/s .
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by MOMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of MOMLS or Long & Foster Real Estate, Inc.