The Long & Foster Market Minute

Focus On: Englishtown, Millstone Township, and Western Monmouth County Housing Market June 2021

Zip Code(s): 07726, 08535, 08510, 08501, 08514 and 08555
Units Sold
94
Active Inventory
154
Median Sale Price
$599,500
Days On Market
15
Up
Vs. Year Ago
Down -45%
Vs. Year Ago
Up 18%
Vs. Year Ago
Down -73%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 94 sold this month in Englishtown, Millstone Township, and Western Monmouth County Real Estate. This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 124 units or 45%. The total number of active inventory this June was 154 compared to 278 in June 2020. This month's total of 154 is higher than the previous month's total supply of available inventory of 153, an increase of 1%.

Median Sale Price
Last June, the median sale price for Englishtown, Millstone Township, and Western Monmouth County Homes was $508,012. This June, the median sale price was $599,500, an increase of 18% or $91,488 compared to last year. The current median sold price is 6% higher than in May.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
156
Current Contracts
131
Sold Vs. List Price
103.7%
Months of Supply
1.6
Down -6%
Vs. Year Ago
Up 11%
Vs. Year Ago
Up
Vs. Year Ago
Down -67%
Vs. Year Ago

Months of Supply
In June, there was 1.6 months of supply available in Englishtown, Millstone Township, and Western Monmouth County, compared to 5.0 in June 2020. That is a decrease of 67% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 156 homes newly listed for sale in Englishtown, Millstone Township, and Western Monmouth County compared to 166 in June 2020, a decrease of 6%. There were 131 current contracts pending sale this June compared to 118 a year ago. The number of current contracts is 11% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Englishtown, Millstone Township, and Western Monmouth County was 103.7% of the average list price, which is higher than at this time last year.

Days on Market
This month, the average number of days on market was 15, lower than the average last year, which was 55, a decrease of 73%.

The Long & Foster Market Minute Englishtown, Millstone Township, and Western Monmouth County are defined as properties listed in zip code/s 07726, 08535, 08510, 08501, 08514 and 08555 .
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by MOMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of MOMLS or Long & Foster Real Estate, Inc.