The Long & Foster Market Minute

Focus On: Matawan, Hazlet, and Raritan Bayshore Housing Market June 2021

Zip Code(s): 07747, 07730, 07735, 07734 and 07721
Units Sold
125
Active Inventory
197
Median Sale Price
$420,000
Days On Market
24
Up 25%
Vs. Year Ago
Down -25%
Vs. Year Ago
Up 24%
Vs. Year Ago
Down -38%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 125 sold this month in Matawan, Hazlet, and Raritan Bayshore Real Estate versus 115 last month, an increase of 9%. This month's total units sold was higher than at this time last year, an increase of 25% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 67 units or 25%. The total number of active inventory this June was 197 compared to 264 in June 2020. This month's total of 197 is lower than the previous month's total supply of available inventory of 210, a decrease of 6%.

Median Sale Price
Last June, the median sale price for Matawan, Hazlet, and Raritan Bayshore Homes was $340,000. This June, the median sale price was $420,000, an increase of 24% or $80,000 compared to last year. The current median sold price is 15% 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
167
Current Contracts
143
Sold Vs. List Price
103.8%
Months of Supply
1.6
Down -4%
Vs. Year Ago
Down -8%
Vs. Year Ago
Up
Vs. Year Ago
Down -40%
Vs. Year Ago

Months of Supply
In June, there was 1.6 months of supply available in Matawan, Hazlet, and Raritan Bayshore, compared to 2.6 in June 2020. That is a decrease of 40% 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 167 homes newly listed for sale in Matawan, Hazlet, and Raritan Bayshore compared to 174 in June 2020, a decrease of 4%. There were 143 current contracts pending sale this June compared to 156 a year ago. The number of current contracts is 8% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in Matawan, Hazlet, and Raritan Bayshore was 103.8% 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 24, lower than the average last year, which was 39, a decrease of 38%.

The Long & Foster Market Minute Matawan, Hazlet, and Raritan Bayshore are defined as properties listed in zip code/s 07747, 07730, 07735, 07734 and 07721.
*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.