Soaring Home Appreciation Means The Real Estate Market Is Still Hot!

Here are the February real estate sales results for Monmouth and Ocean Counties and some market insights as we head into spring at the Jersey shore.

March 7, 2024

By Susan Heckman

In both Monmouth and Ocean Counties, the total number of sales as well as the average days on market are similar from one year to the next. The more pointed statistics are the soaring average and median sales prices resulting in strong growth!

What does this tell us?

🔹Low inventory continues to drive this sellers market

🔹Buyers have accepted that mortgage rates may not come down significantly over the near term, and that waiting will only result in higher home prices

🔹Home prices will continue to appreciate through the competitive spring and summer months

If you have been hesitant about selling or buying a home, or are confused about media reports and how it might affect your decision to move, we get you. Here are some ways we can help:

🔹Learn how much equity you have in your current home and the different ways you can use this equity to your financial advantage

🔹Understand how mortgage rates affect buying power and home prices

🔹Get an expert price opinion to learn the current value of your home

🔹Decide if now is a good time to sell and/or buy

BOTTOM LINE:

It doesn't get any better than this. If you have been thinking of selling your home, this is the time to get the ball rolling. With available inventory so low and so many qualified buyers out there, you can expect to 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

Source: FlexMLS