REAL ESTATE MARKET UPDATE IN SPRING LAKE, NJ

When buying a home, local market data and Realtor expertise make ALL the difference. We update the local market data quarterly here, so check back frequently. If there’s a town not listed here that you would like market data for, email homes@theconnollyagency.com or give us a call.

The data below was compiled from the Monmouth-Ocean Multiple Listing Service (FLEX-MLS) and provides an overview of recent sales activity in Spring Lake, NJ.

For a comprehensive real estate market update in Spring Lake, NJ, contact our NJ Shore Real Estate experts at The Connolly Agency. We look forward to hearing from you. 732-361-0800

2021 Vs 2022 Yearly End Market Update

In 2022, 60 single homes were sold, which was a decrease from 75 homes in 2021. The total sales volume for sold Single Family homes in Spring Lake in 2022 decreased by 20%. The average sales price was $2,919,677, an increase of 11% from 2021. The homes were on the market an average of 37 days and sold for 96% of the listing price.

2020 vs 2021 Annual Market Update

In the year of 2021, 59 single family homes were selling in Spring Lake, down 34.44% from 2020. The average sales price was $3,241,043, up 11.77% from 2020, and the average days on market were 47 vs 89 days in 2020. Homes sold for 97% of the listing price vs 93% 2020. Overall, the real estate volume is $191,221,558 down 26.73% compared to last year

Fourth Quarter 2021

In the fourth quarter of 2021, 21 single family homes were selling in Spring Lake, down 40.00% from 2020. The average sales price was $2,673,083 down 2.86% from 2020, and the average days on market were 52 vs 76 days in 2020. Homes sold for 99% of the listing price vs 91% in 2020.

First Quarter 2021

During the first quarter of 2021, Spring Lake saw the sale of 11 single family homes, a decrease of more than 31% than the First Quarter of 2020. The average sales price of these homes was $3,112,050, up significantly by 32% from the 2020 average sales price. These homes were sold at 97% of list price, which is significantly higher than the 2020 comparison of 88% to asking versus sale prices. The homes were listed with an average of 50 days on market, which is dramatically less than 2020’s 108 days on market average.

2020 Year End Summary

In 2020, 88 single family homes sold for an average price of $2,844,473, 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 which is an increase of 91% over 2019.  In 2019 the total Sales Volume for single family homes in Spring Lake was $130,899,248.

Second Quarter 2020

Sales of 16 single family homes from April through June of 2020 reflect an average sales price of $2,579,109 and 109 days on the market. Spring Lake shows a 2% increase in average sales price from the same half in 2019. Homes sold at 98% of list price.

First Quarter 2020

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.

2019 Year End Summary

In 2019, 50 homes sold for an average price of $2,617,984, an increase of 3% over 2018. The homes were on the market an average of 99 days, and sold for 94% of the listing price.

Third Quarter 2019

13 single family homes sold in Spring Lake during the third quarter with an average sale price of $2,535,307. These properties sold after an average of 85 days on market and at 4% below list price.

First Half of 2019

24 Single Family homes have sold in Spring Lake during the first half of 2019 versus 36 in 2018 – a decrease of 33%. The average sales price is down 2% to $2,540,239 and the average listing price is down 1% to $2,742,239. Homes are selling for 93% of listing price with an average days on market of 109.

First Quarter 2019

In the first quarter of 2019, 17 single family homes have been sold, for an average price of $2,576,985, a 6% decrease from last year’s first quarter. The homes sold for 92% of the listing price, and the average days on market was 136 days.

2018 Year End Review

For 2018, 67 single family homes were sold, for an average of $2,550,258, or a 17% increase over 2017. The homes were on the market for an average of 98 days, and sold for 6% less than the listing price.

Third Quarter

So far, 18 single family homes have been sold in Spring Lake, for an average sales price of $2,192,288. The homes sold for 94% of the listing price, and stayed on the market for an average of 103 days.

Second Quarter

So far, 18 single family homes have been sold in Spring Lake in the second quarter, for an average sales price of $2,429896 decreasing by 12% earlier this year. The homes sold for 94% of the listing price, and stayed on the market for an average of 81 days.

First Quarter 2018

So far, 18 single family homes have been sold in Spring Lake this year, for an average sales price of $2,749,666, increasing by 32% since last year. The homes sold for 94% of the listing price, and stayed on the market for an average of 81 days.

2017 Overall

Throughout 2017, 70 single family homes were sold in Spring Lake. The average sales price of a home was $2,188,525, which is a 13% increase from last year. The average days on the market fell from 101 to 88 days. The homes also generally sold for 5% less than listing price.

Third Quarter 2017

In Spring Lake during the third quarter of 2017, 21 single family homes were sold, which is more than double the amount of homes sold in 2016’s third quarter. The average sales price of the homes sold increased 37% to $2,354,157, selling for 4% less than listing price. The days on the market also slightly decreased from 105 days to 92 days.

Second Quarter 2017

Data for the second quarter of 2017 shows the average sale price for a single family home in Spring Lake, NJ was $2,115,071 which represented almost a 2% increase in sales price over the same quarter in 2016, when the average sale price was $2,075,736.  A total of 21 homes sold in 2017 versus 19 in 2016.  Days on the market increased from 93 days in 2016 to 102 in 2017.  Homes in 2017 sold on average for just 5% less than list price.

First Quarter 2017

In the first quarter of 2017, fifteen homes sold in Spring Lake, a 28% decrease when compared to the same period in 2016.  The average sales price of a single family home dropped by 16% to $1,907,933 in the first quarter.  The average days on the market was 77 and homes were selling at 6% less than list price.

 2016 Overall

The average sales price for a single family home in Spring Lake, NJ in 2016 was $1,939,250, down 4% from the previous year’s average of $2,024,989.  A total of 66 homes sold during the year, resulting in a 5% decrease in unit sales as compared to 2015.  Average days on the market remained flat year to year at 101.  Overall, homes in Spring Lake were selling for 6% less than listing price.

Fourth Quarter 2016

Sixteen homes sold in Spring Lake, NJ during the fourth quarter of 2016, as compared with 15 during the same period in 2015.  The average sales price for a single family home decreased 24% to $1,445,687 when compared to the average price in 2015 of $1,908,900.  The average days on the market decreased from 107 in 2015 to 79 in 2016.  For the fourth quarter of 2016, homes sold for 6% less than list price on average.

 Third Quarter 2016

The average sale price for a single family home in Spring Lake, NJ was $1,719,003, which represented a 15% decrease in sales price over the same period in 2015.  A total of 50 homes sold through the first three quarters in 2016 versus 55 in 2015, a decrease of 9%.  Days on the market increased from 101 in 2015 to 105 days in 2016.  Homes in 2016 sold on average for 7% less than list price.

 Second Quarter 2016

Data for the second quarter of 2016 shows the average sale price for a single family home in Spring Lake, NJ was $2,075,736 which represented a 1% decrease in sales price over the same quarter in 2015, when the average sale price was $ $2,099,917.  A total of 19 homes sold in 2016 versus 22 in 2015.  Days on the market increased from 67 in 2015 to 93 days in 2016.  Homes in 2016 sold on average for just 7% less than list price.

 First Quarter 2016

The average sales price for a single family home in Spring Lake, NJ for the first quarter of 2016, was $2,296,690 which represented a 14% increase in sales price over the same quarter in 2015, when the average sales price was $2,006,502.  A total of twenty-one (21) homes sold in the first quarter of 2016 verses fourteen (14) sold in 2015.  Days on market decreased slightly from 134 to 106 in 2016. Homes were selling on average for just 6% less than list price.

2015 Overall

Data shows that the average sale price for a single family home in Spring Lake in 2015 was $2,024,988 based on 70 home sales. This represented a decrease of 14% from $2,316,954 with a 3% increase in unit sales compared to 2014. The average listing price of homes in Spring Lake in 2015 was $2,151,880 and homes were selling at 94% of list price with an average days on the market of 102.

The information is deemed reliable but not guaranteed.