Manahawkin Home Sales Price Up Over 22%!
In the Manahawkin real estate market conditions continue to favor sellers over buyers, compared to this time last year. October 2019 found an decrease of new listings, a decrease in active listings and a decrease in pending (under contract) listings for all real estate in Manahawkin, according to information from the Monmouth Ocean Regional Multiple Listing Service (MORMLS). Reminder: over 600 Manahawkin homes have sold in the last 12 months!
Manahawkin Real Estate Market Activity: Year to Date in Comparison to Last Year: (Note – “year to date” is a direct comparison between the first 9 months of 2018 to 2019)
· Median List Price: Up 7.03%
· Median Sale Price: Up 3.60%
· Median Days on Market: 44 (# of days on market before property sells)
· Sold Listings: 411, Up 10.8%
· Pending Sold Listings (this month): Down 33.3%
· Active Listings (this month): Down 10.5%
· New Listings (this month): Down 27.1%
Manahawkin Housing Market Summary: 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 4.84%
· Sales Price: Up 22.55%
· List Price: Up 23.04%
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: Experts seem to think there may be an economic downturn in the next 12 months, so if you are thinking of selling, NOW may be the time!!
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