Real Estate Market Update: First Quarter 2020

Real Estate Market Update: First Quarter 2020

Allenhurst

Starting off the first quarter of 2020, Allenhurst saw sales of 2 single family homes. The average sales price of $1,732,500 represents the sale of a $415,000 and a 3 million dollar home. These homes were sold at 91% of list price, which holds consistently with 2019 comparisons to asking versus sale prices. These homes were listed with an average of 33 days on market, which is a slight improvement over last year’s average DOM.

Asbury Park

During the first quarter of 2020, Asbury Park sold closings of 17 single family homes. The average sale price this quarter is $525,014, which is up last year’s average of $322,333. List time during this 2020 quarter have also shown less days on the market, decreasing to an average of 49 days on market from 65 days during the same quarter last year.

Avon by the Sea

With 7 homes sold in Avon by the Sea, we see an increase in sales volume from the same time last year, with only 1 home sold in 2019’s first quarter. Homes are selling at 91% of list prices with an average of 85 days on the market; half as long as in 2019. The average sales price is $1,751,964.

Belmar

Belmar reflects the sale of 20 homes in the 1st quarter of 2020, at 94% of list prices, with an average sales price of $836,475. Homes are spending an average of 81 days on market; a decrease from the same quarter in 2019 by 30%.

Bradley Beach

During the first quarter of 2020, 13 single family homes sold with an average of price of $712,223. This is a 2% decrease in average sales price with the same number of homes sold in the same quarter in 2019. Homes are spending an average of 80 days on the market.

Brielle

11 single family homes sold during the first quarter of 2020 with an average sale price of $677,740. This is a 5% increase in the average sales price as compared with the same quarter in 2019. Homes are listed for an average of 70 days on the market.

Lake Como

Lake Como records sales of 4 single family homes with an average list price of $320,474. Homes are selling at 4% below list price with an average of 51 days on the market.

Manasquan

Manasquan boasts the sale of 17 single family homes during the first quarter of 2020. Sales saw a 2% decrease in average sales price during the same quarter in 2019. Average sale price of $786,295 was recorded with an average of 44 days on the market. Homes sold for 97.5% of asking price.

Neptune City

Neptune City records the sale of 6 single family homes at the start of 2020. With an average sales price of $285,000 during the first quarter, this is a 1% increase as compared with the same quarter in 2018. Homes spent an average of 43 days on the market and sold at 95% of list prices.

Neptune Twp.

Sales of 71 single family homes were recorded during the first quarter of 2020 with an average sale price of $385,974. This is a 21% increase in sales prices from the same quarter in 2019. Averages show the homes were listed for about 57 days on the market.

Ocean Grove

The first quarter boasts the sale of 13 single family homes with an average sale price of $617,461. Homes were sold at less than 4% below list prices, with an average of 66 days on the market.

Point Pleasant Beach

During the first quarter of 2020, 26 single family homes closed with an average sale price of $629,755. The volume of sales is up 46% as compared to the same quarter in 2019. These homes sold 6% below list price with an average of 129 days on the market.

Sea Girt

Sea Girt shows a 2% increase in average sales price from the same quarter in 2019. Sales of 6 single family homes from January through March 2020 reflect an average sales price of $1,975,000 and 100 days on the market.

Spring Lake

Spring Lake reflects the sale of 16 single family homes during the first quarter with an average sale price of $2,357,812. These homes were on the market for an average of 108 days, selling 11% below list price.

Spring Lake Heights

The sale of 6 single family homes were recorded in Spring Lake Heights during the first quarter of 2020. This is a decrease in volume when compared to the same time frame in 2019 from 14 homes sold. There is an 8% decrease in average sales price, with 45 days on the market. Homes sold at 10% below list prices.

Wall

82 single family homes were sold in the 1st quarter of 2020. The average sales price is $513,125 with average days on market at 41. Homes sold at 4% below list prices. Volume of sales is up 26% when compared to the same quarter in 2019.

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