SPRING 2026 MARKET OUTLOOK: New Jersey Leads the Nation in Home Growth
- Susan Heckman
- Apr 13
- 3 min read
1st Quarter Results Show the Jersey Shore Real Estate Market Continues Its Strong Trajectory
Go New Jersey! According to recent data from Cotality, New Jersey ranked #1 in the country for home price growth, posting a 5.93% year-over-year increase. While much of the country is seeing flat or declining prices, New Jersey continues to outperform, driven by strong local demand, limited housing supply, continued migration from higher-cost areas, commuter accessibility to New York City, and an exceptional variety of housing and lifestyle options.
Here at the Jersey Shore, first quarter results for 2026 are sending a clear message to homeowners in Monmouth and Ocean County: prices are strong, inventory remains limited, and serious buyers are still active in the market.
A Market in Transition
Prices are still climbing, but the number of homes sold is down significantly and homes are now taking slightly longer to sell. However, these are the hallmarks of a market that is gradually finding its footing after the extraordinary conditions of the COVID era and returning to more normal conditions and cycles.
MONMOUTH COUNTY: RESIDENTIAL SALES
Total Homes Sold | Median Sales Price | Average Sales Price | Average Days on Market | |
1st Quarter 2026 | 1,321 | $710,000 | $878,790 | 40 |
1st Quarter 2025 | 1,943 | $688,000 | $879,728 | 41 |
1st Quarter 2024 | 1,804 | $659,950 | $834,503 | 38 |
1st Quarter 2023 | 1,803 | $575,000 | $706,801 | 37 |
1st Quarter 2022 | 2,394 | $540,000 | $672,401 | 31 |
1st Quarter 2021 | 2,845 | $499,999 | $619,161 | 39 |
1st Quarter 2020 | 2,412 | $422,750 | $525,846 | 58 |
OCEAN COUNTY: RESIDENTIAL SALES
Total Homes Sold | Median Sales Price | Average Sales Price | Average Days on Market | |
1st Quarter 2026 | 1,815 | $465,000 | $564,259 | 50 |
1st Quarter 2025 | 2,397 | $460,000 | $559,846 | 42 |
1st Quarter 2024 | 2,429 | $435,000 | $527,093 | 42 |
1st Quarter 2023 | 2,523 | $385,000 | $464,975 | 41 |
1st Quarter 2022 | 3,325 | $380,000 | $462,506 | 30 |
1st Quarter 2021 | 3,887 | $329,000 | $405,435 | 39 |
1st Quarter 2020 | 3,311 | $265,000 | $324,178 | 71 |
Source: Monmouth/Ocean MLS
Three Phases: Putting the Data in Context
The numbers above paint a clear picture of how this market has evolved:
Pandemic Boom (2020–2022): Rapid price growth fueled by pandemic-era migration, record-low mortgage rates below 3%, and extraordinarily high sales volume defined this period.
Adjustment Period (2023–2024): As mortgage rates rose sharply, sales began to decline and price growth slowed somewhat, but never stopped. The market was recalibrating, not retreating.
Stabilization (2025–2026): Today, prices continue to increase, rates have leveled off, and while transaction volume is lower and days on market have ticked up slightly, the fundamentals remain sound.
What This Means for Buyers and Sellers
For Sellers: The good news is that prices are still rising at a healthy 4–6% annually. In addition, with less than 2 months of inventory available, it is still technically a sellers market. However, smart pricing strategy has never mattered more. Today's buyers are taking more time to make decisions and have more negotiating leverage than they've had in five or six years. A home priced correctly from the start is what separates a successful sale from a stale listing.
For Buyers: While overall competition has eased overall, inventory remains tight in many areas. The “wait for rates to drop” strategy carries real financial risk. If a $600,000 home appreciates just 5% over the next year, it will cost you $30,000 more to buy it twelve months from now, with no guarantee that rates will drop meaningfully in the interim. The smarter move is to buy now, with the knowledge that refinancing remains an option if rates do decline, and that you'll be building equity in the meantime.
Now Is the Time to Sell
Spring is the most active season in real estate, and the window is open right now. As inventory continues to build through the spring and summer months, competition among sellers will increase. Positioning your home strategically — and moving sooner rather than later — is the key to maximizing your result.
I'd love to sit down with you for a private consultation to review your home's value and build a plan tailored to this market. Together, we'll look at a detailed analysis of what your home is worth today, local market insights specific to your neighborhood, and a customized strategy to help you achieve the strongest possible sale.
Visit suehex.com/sellers to learn more, or reach out anytime for an informative consultation and complimentary Comparative Market Analysis.
Susan Heckman
Broker-Associate
732-687-9980
The Gallery Residential Brokerage
Serving New Jersey home buyers and sellers from Spring Lake, NJ
Source: National Association of Realtors
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