Leaves Are Falling But Home Prices Are Still Going Up!
Here are the October real estate sales results for Monmouth & Ocean Counties!
November 8, 2023
By Susan Heckman
As is typical for this time of year, total home sales have again dipped from the month before. Inventory of available homes continues to be a challenge here at the Jersey Shore, and the numbers are even lower than last year’s production.
In addition, it’s important to note that the median days on market, strong at 15 days for Monmouth and 20 days for Ocean County, demonstrates that buyers are very much still out there and waiting to snap up homes as they come on the market.
There are two important things to consider from this:
Home prices are continuing to appreciate, accruing about 9% in value over the past month. That’s huge!
These results show that there are many good reasons to list right now.
Why is it a good time to list before the end of the year?
You’ll be ahead of the competition since many sellers wait until January or later to list.
You can take advantage of buyers looking to make a purchase before December 31.
Buyers that are shopping now are serious buyers.
Buyers will want to take advantage of today’s improved mortgage rates.
You can use the equity from your sale to make a higher down payment and better investment on your next home.
Homes look attractive when tastefully decorated for the holidays!
Don't wait until next year to list your home -- with available inventory so low and so many qualified buyers out there, this is a great time to list and get sold fast for the highest possible return.
Do you have questions about listing your home? Are you wondering how much your home might sell for? Call me at 732-687-9980 for more information and to schedule a consultation with a home pricing analysis.
Always here to serve you.
Susan Heckman, Broker-Associate
The Gallery Residential Brokerage