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®
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