Manahawkin Estimated Home Values are Up by Almost 10%
Manahawkin housing inventory has improved significantly as median sales price of homes rise and homes are selling at a faster pace.
In the Manahawkin real estate market conditions continue to favor sellers over buyers, compared to this time last year. February 2019 found an increase of new listings, an increase in active listings and an increase in pending (under contract) listings for all real estate in Manahawkin, according to information from the Monmouth Ocean Regional Multiple Listing Service (MORMLS).
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Manahawkin Housing Market Summary: Year to Date in Comparison to Last Year: (Note – this is a very limited look at the Manahawkin Real Estate Market since we are only looking at the first 2 months of the year)
- Median List Price: Up 0.30%
- Median Sale Price: Up 0.91%
- Median Days on Market: 58 (# of days on market before property sells)
- Sold Listings: 52, Up 48.6%
- Pending Sold Listings: Up 36.1%
- Active Listings: Up 35.3%
- New Listings: Up 24.5%
Market Activity: The Market Activity Report is a snapshot of all the changes in a local real estate market over the last 24 months
- Estimated Home Values: Up 9.64%
- Sales Price: Down 12.33%
- List Price: Up 8.37%
Bottom Line: The above statistics all point to a “Seller’s Market” in Manahawkin. A seller's market comes into formation when demand exceeds supply for homes. A seller's market is often heard in real estate to describe a shortage of properties in the face of healthy demand. A buyer's market is the opposite situation, where supply exceeds demand and therefore the power resides with the buyer in terms of setting a price. While there are many more homes on the market, prices continue to rise due to demand.
Important Note: Economists seem to think there may be a recession in late 2019 or early 2020, so if you are thinking of selling, NOW may be the time!!
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If you have any questions, please contact me at your convenience.
Karl Hess provides expert real estate services to residential buyers and sellers in Manahawkin and the surrounding communities. Contact us today for more information on Stafford Twp Real Estate and for professional assistance navigating this complex home market.
As always, thank you for your time and feel free to get in touch if you have any questions. Karl Hess, your Realtor on The Jersey Shore in Ocean County