The Spring Lake NJ Real Estate Market for 2020 was extraordinary! The volume of Single family home sales soared and at the same time home prices increased.
While 2020 wrecked havoc on the world with the Covid Pandemic, it created a flurry of home buyer activity in our New Jersey Shore towns. 2020 was seen as one of the best real estate markets at the Jersey Shore. The desire to leave the confines of the cities in search of the beach, coupled with the record low mortgage rates spurred the great surge in demand for Beach houses. We are entering into 2021 with a record low inventory of homes to sell.
In 2020, 88 single family homes sold for an average price of $2,844,473. This is an increase in sales price of 9% over 2019. The homes were on the market an average of 90 days and sold for 93% of the listing price.
The total sales volume of single family homes sold in Spring Lake in 2020 was $250,313,653. This was an incredible increase of 91% over 2019, where the total Sales Volume for single family home sales was $130,899,240.
Spring Lake is located in Monmouth County with close proximity to downtown shopping and beaches. You may enjoy the Spring Lake Boardwalk, the public library, and its fine downtown, as well as The Spring Lake Theater Company which has been providing 90 plus years of entertainment. Besides beautiful homes and beaches, Spring Lake has everything to offer new residents, whether you are here for the Summer Season, or full time. For more information on Spring Lake NJ Real Estate, please contact us at 732 361 0800.