Single Family Waterfront Homes in Monmouth County - A look at Value

MONMOUTH COUNTY SINGLE FAMILY WATERFRONT PROPERTIES -  CLOSED AS REPORTED THROUGH THE MLS BY YEAR – TAKE A LOOK AND COMPARE

In honor of Memorial Day Weekend – the beginning of the Summer Season for the Jersey Shore, here’s my analysis on the Single Family Waterfront in Monmouth County over the years.   This year in the Spring Season is just about over and it has been a dismissal selling season in the Real Estate market.  I see some really great deals out there but not many buyers taking the leap.  So far, 2011 started off with really terribly cold winter, high unemployment, high taxes and the crazy high price of gas.  If you’ve ever dreamed of owning a waterfront home, now is the time.  Prices haven’t been this low in years and the mortgage rate – don’t think can get any lower.  Take a look and see how waterfronts have held up over the years.

In 2010, it looks like the tax credits offered once again saved the day.  However, numbers tell us that the median price for a Waterfront is the LOWEST its been in 5 years and DOM’s are taking much, much longer. 

BUYERS COME TAKE A LOOK, THERE ARE SOME GREAT DEALS TO BE HAD—COME VACATION OR LIVE YEAR ROUND—OWNING A WATERFRONT HOME DOESN’T NEED TO BE A DREAM ANY LONGER.

January 1, 2006 – December 31, 2006

Status      Total        Avg Price                 Median                   Low                         High                  Avg DOM

CLS          150          $1,141,662              $895,000                 $99,500                   $6,735,000              81

January 1, 2007 – December 31, 2007

Status      Total        Avg Price                 Median                   Low                         High                  Avg DOM

CLS          151          $1,224,395              $835,000                 $77,000                   $9,350,000              110

January 1, 2008 – December 31, 2008

Status      Total        Avg Price                 Median                   Low                         High                  Avg DOM

CLS          134          $1,177,966              $876,250                 $200,000                 $5,600,000              117

January 1, 2009 – December 31, 2009

Status      Total        Avg Price                 Median                   Low                         High                  Avg DOM

CLS          118          $1,074,132              $817,500                 $150,000                 $5,558,500              143

January 1, 2010 – December 31, 2010

Status      Total        Avg Price                 Median                   Low                         High                  Avg DOM

CLS          155          $1,142,710              $685,000                 $84,000                   $9,900,000              144

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®
Prompt, Professional and Personalized Service. Call me direct 732-684-1559 or email lucyk@remax.net. Check out my website, www.RealEstateLu.com for more great information.

A Look at Value - Asbury Park Condos

Asbury Park so much history in this year the boardwalk and downtown is still going through a rejuvenation that seems to be helping the City economy but being in the real estate business sales are still a bit sluggish and prices still adjusting.  We’ll have to see what 2011 has to offer the Real Estate Market while NJ goes through high unemployment, high taxes and the crazy high price of gas.

ANALYSIS OF THE CITY OF ASBURY PARK CONDO MARKET – The highest closed in 2006 was located at 1501-1302 Ocean Avenue located at the North Beach high rise.  This high rise has seen more closed listings but certainly not at that price.  As far as most closed sales the BEST YEAR AWARD should go to 2008, overall I think it was the best year for the condo market.  In 2010 not even the buyer tax credit boosted the sales much more, stay tuned.  The summer season could bring in more respectable numbers, we’ll see.

BUYERS COME TAKE A LOOK, THERE ARE SOME GREAT DEALS TO BE HAD—COME VACATION OR LIVE YEAR ROUND—ASBURY PARK IS BECOMING MORE AND MORE  A VERY HIP PLACE TO BE.

ASBURY PARK, NJ CLOSED AS REPORTED THROUGH THE MLS BY YEAR – TAKE A LOOK AND COMPARE

January 1, 2006 – December 31, 2006

Status      Total        Avg Price                 Median                   Low                         High                  Avg DOM

CLS          53            $254,387                 $199,000                 $85,000                   $1,150,000              89

January 1, 2007 – December 31, 2007

Status      Total        Avg Price                 Median                   Low                         High                  Avg DOM

CLS          68            $273,885                 $235,000                 $117,500                 $745,000                 101

January 1, 2008 – December 31, 2008

Status      Total        Avg Price                 Median                   Low                         High                  Avg DOM

CLS          62            $344,154                 $289,950                 $93,975                   $705,000                 82

January 1, 2009 – December 31, 2009

Status      Total        Avg Price                 Median                   Low                         High                  Avg DOM

CLS          62            $264,212                 $214,700                 $108,000                 $708,000                 106

January 1, 2010 – December 31, 2010

Status      Total        Avg Price                 Median                   Low                         High                  Avg DOM

CLS          62            $264,268                 $230,000                 $112,000                 $550,000                 111

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®
Prompt, Professional and Personalized Service. Call me direct 732-684-1559 or email lucyk@remax.net. Check out my website, www.RealEstateLu.com for more great information.

A Look at Values, Neptune Township

Neptune Township (EXIT 100) off the Garden State Parkway stretches east to the Atlantic Ocean encompassing Historic Ocean Grove .  The southern border is the beautiful Shark River estuary and the northern border is with the City of Asbury Park and Ocean Township towards the southern end borders Wall Township. Neptune Township is a diverse community, both in terms of population and landscape. 

In this analysis of closed Single family homes from January 2006 to December 2010, it looks like Neptune had its worst year in 2008 compared to others in this analysis.

This year is the year of recovery, Wishing you Great Success in all your Real Estate Dreams.

NEPTUNE TOWNSHIP, NJ CLOSED AS REPORTED THROUGH THE MLS BY YEAR – TAKE A LOOK AND COMPARE

January 1, 2006 – December 31, 2006

Status      Total        Avg Price                 Median                   Low                         High                  Avg DOM

CLS          279          $364,635                 $335,000                 $128,750                 $1,525,000              84

January 1, 2007 – December 31, 2007

Status      Total        Avg Price                 Median                   Low                         High                  Avg DOM

CLS          241          $387,978                 $333,000                 $100,000                 $1,699,000              92

January 1, 2008 – December 31, 2008

Status      Total        Avg Price                 Median                   Low                         High                  Avg DOM

CLS          174          $335,188                 $306,000                 $90,000                   $885,000                 105

January 1, 2009 – December 31, 2009

Status      Total        Avg Price                 Median                   Low                         High                  Avg DOM

CLS          201          $337,191                 $290,000                 $58,000                   $1,600,000              108

January 1, 2010 – December 31, 2010

Status      Total        Avg Price                 Median                   Low                         High                  Avg DOM

CLS          203          $282,024                 $260,000                 $45,000                   $776,000                 99

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®
Prompt, Professional and Personalized Service. Call me direct 732-684-1559 or email lucyk@remax.net. Check out my website, www.RealEstateLu.com for more great information.