The Real Estate Market at the Jersey Shore continues to be very strong in 2017, with high demand, low inventory and home sale prices generally on the rise.  Here is a comparison of this year’s Real Estate Activity through the 3rd Quarter of 2017 compared to last year through the third quarter for single family homes that have been sold:
Allenhurst – So far through 2017, only 5 single family homes have been sold in Allenhurst, one less than this time last year. However, the average sales price for a house has doubled, going from $854,666 last year to $1,865,000 this year. The homes have sold for 9% less than the listing price, consistent with last year, and have spent an average of 96 days on the market, almost the same as 2016.
Asbury Park – With 72 homes in sold in Asbury Park this year, the average sales price has increased 33% to $364,669 since 2016! The average days on the market has also dropped from 82 days to 25 days, selling for 2% less than the listing price.
Avon-by-the-sea – By the third quarter of both 2017 and 2016, 19 single family homes were sold in Avon-by-the-sea. This year, the average sales price of a home is $1,047,078, which is almost 7% less than last year. The average days on the market has also slightly dropped from 110 to 95, and the houses sold for an average of 94% of the listing price.
Belmar – In Belmar 51 single family homes have been sold so far, 5 more than the by the third quarter last year. The average price of a house has only increased by 1%, being at $751,337, and being sold for 92% of the listing price. The average days on the market has also increased from 83 days to 126 days.
Bradley Beach – The most recent data for 2017 in Bradley Beach shows that 30 single family homes were sold for an average of $629,803, which is 8% over the period last year. Homes last year by this time sold for $580,830. The homes were sold for about less than 5% of the listing price, and stayed on the market for an average of 59 days, shorter than the 74 day average of last year.
Brielle -The average sales price for a single family home in Brielle this year is $711,791, only about 3% less than last year. This year 54 homes have been sold, which is 15% more than 2016 around the third quarter. The homes sell for an average of 94% of the listing price, consistent with last year, and spend about 79 days on the market, 15 less than last year.
Lake Como – Three quarters into 2017, the average sales price of a single family home is $443,767, increasing by almost 19% since last year. 30 homes have been sold, 6 more than last year, and the days on the market have decreased from 64 to 55 days. The homes sell for an average of 3% less than listing price.
Manasquan – In Manasquan, 70 single family homes have been sold, a 32% increase from last year. The average sales price of a home has also increased to $443,767, 15% more than last year. The houses sell for 5% less than listing price, and stay on market for 83 days, only a few less than last year.
Neptune City – The current data for Neptune City shows that 46 homes have been sold, 6 more than last year, for an average of $264,874. This is just a 5% increase from last year, and the houses are usually sold for 3% less than listing price. The days on the market, however, have decreased to 49 days, dropping from 70 days last year.
Neptune Township – A total of 281 single family homes have been sold in Neptune Township after three quarters, 50 more than last year’s 231. There has only been a slight 3% increase in the sales price, being at $319,809. The homes are on the market for an average of 57 days in 2017, compared to 69 in 2016, and sell for 97% of the listing price.
Ocean Grove – Data for 2017 so far has shown that 49 homes have been sold in Ocean Grove, a little more than the 42 sold last year. The average sales price has increased by about 7%, selling for $576,5530, and 95% of the listing price. The days on the market has also been reduced from 70 to 57 days on average.
Point Pleasant Beach – The average price for a single family home in Point Pleasant Beach in 2017 is $640,399, a 15% increase from last year. Other than that, the stats have been relatively consistent with last year, both years selling for 95% of the listing price, both on the market for 84 days, and having 62 homes sold in 2017 verse 65 in 2016.
Sea Girt – The most recent data for Sea Girt in 2017 has shown that 41 homes have been sold, while 38 were sold in 2016, and they averaged for $1,979,497, 16% more than the average of last year by the third quarter which was $1,786,703. The average days on the market decreased slightly from 104 to 98 days, and sold for 93% of the listing price.
Spring Lake – In Spring Lake 57 homes have been sold so far, 7 more than last year. The houses sell for an average of $2,148,645; last year at this time they sold for $2,097,190. The average days on the market is 92, a little less than 107 days last year. The houses also sell for 5% less than listing price.
Spring Lake Heights – The current average price of a home in Spring Lake Heights is $466,967, less than a 1% decrease in price from last year. 57 homes have also been sold this year, a 19% increase from last year, and the houses sold for 97% of the listing price. The average days on the market decreased from 76 to 62 days.
Wall – The most recent data for 2017 shows that 260 single family homes were sold in Wall, which is about a 5% increase from last year. The average sales price has also increased by 5%, being at $523,095, and selling for 96% of the listing price, the same as last year. The average days on the market also slightly increased from 65 to 72.