Jersey Shore Prices 2003 vs. 2010

I am determined to keep my pulse on the market and share what I learn with my readers.  Today, I would like to analyze 2003 vs. 2010 closed prices for Spring Lake Heights, Neptune City and Sea Bright. 

Spring Lake Heights has remained close in the Average price range but big difference in the highest and lowest numbers with the number of closed being less in 2010.  Neptune City is doing much better in 2010 than 2003 in values overall except for number of closed properties which were higher in 2003. In Sea Bright, the same with values up not down.  Spring Lake Heights most closely reflects Prices on the Average 2003 vs. 2010. 

January 1, 2003 – December 31, 2003 – SPRING LAKE HEIGHTS

Status      Total        Avg Price                 Median                   Low                         High                  Avg DOM

CLS          33            $424,303                 $375,000                 $135,000                 $965,000                 103

January 1, 2010 – December 31, 2010

Status      Total        Avg Price                 Median                   Low                         High                  Avg DOM

CLS          25            $444,452                 $410,000                 $250,000                 $690,000                 116

Neptune City prices improved since 2003.

January 1, 2003 – December 31, 2003 – NEPTUNE CITY

Status      Total        Avg Price                 Median                   Low                         High                  Avg DOM

CLS          36            $194,051                 $182,950                 $85,111                   $300,000                 66

January 1, 2010 – December 31, 2010

Status      Total        Avg Price                 Median                   Low                         High                  Avg DOM

CLS          24            $244,392                 $236,750                 $144,000                 $399,000                 71

Sea Bright prices increased from 2003 to 2010.

January 1, 2003 – December 31, 2003 – SEA BRIGHT

Status      Total        Avg Price                 Median                   Low                         High                  Avg DOM

CLS          12            $643,542                 $432,000                 $235,000                 $1,600,000              62

January 1, 2010 – December 31, 2010

Status      Total        Avg Price                 Median                   Low                         High                  Avg DOM

CLS          8              $1,531,250              $1,587,500              $320,000                 $2,855,000              122

This CMA is not an appraisal and should not be considered the equivalent of an appraisal.
--Information deemed reliable but not guaranteed--Copyright: 2011 by the Monmouth County Association of REALTORS®
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April 2011