The Long & Foster Market Minute

Focus On: Monmouth County Housing Market June 2021

Units Sold
976
Active Inventory
1,677
Median Sale Price
$560,000
Days On Market
26
Up 29%
Vs. Year Ago
Down -37%
Vs. Year Ago
Up 22%
Vs. Year Ago
Down -50%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 976 sold this month in Monmouth County Real Estate versus 808 last month, an increase of 21%. This month's total units sold was higher than at this time last year, an increase of 29% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 984 units or 37%. The total number of active inventory this June was 1,677 compared to 2,661 in June 2020. This month's total of 1,677 is lower than the previous month's total supply of available inventory of 1,708, a decrease of 2%.

Median Sale Price
Last June, the median sale price for Monmouth County Homes was $460,000. This June, the median sale price was $560,000, an increase of 22% or $100,000 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
1,293
Current Contracts
1,062
Sold Vs. List Price
102.1%
Months of Supply
1.7
Down -13%
Vs. Year Ago
Down -13%
Vs. Year Ago
Up
Vs. Year Ago
Down -51%
Vs. Year Ago

Months of Supply
In June, there was 1.7 months of supply available in Monmouth County, compared to 3.5 in June 2020. That is a decrease of 51% 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 1,293 homes newly listed for sale in Monmouth County compared to 1,487 in June 2020, a decrease of 13%. There were 1,062 current contracts pending sale this June compared to 1,222 a year ago. The number of current contracts is 13% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in Monmouth County was 102.1% 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 26, lower than the average last year, which was 52, a decrease of 50%.

The Long & Foster Market Minute Monmouth County are defined as properties listed in zip code/s .
*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.