The Long & Foster Market Minute

Focus On: Rumson, Monmouth Beach, and Red Bank Housing Market June 2021

Zip Code(s): 07760, 07750, 07701, 07704 and 07739
Units Sold
110
Active Inventory
158
Median Sale Price
$735,000
Days On Market
17
Up
Vs. Year Ago
Down -45%
Vs. Year Ago
Up 10%
Vs. Year Ago
Down -69%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 110 sold this month in Rumson, Monmouth Beach, and Red Bank 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 131 units or 45%. The total number of active inventory this June was 158 compared to 289 in June 2020. This month's total of 158 is lower than the previous month's total supply of available inventory of 166, a decrease of 5%.

Median Sale Price
Last June, the median sale price for Rumson, Monmouth Beach, and Red Bank Homes was $670,000. This June, the median sale price was $735,000, an increase of 10% or $65,000 compared to last year. The current median sold price is 18% 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
108
Current Contracts
95
Sold Vs. List Price
102.5%
Months of Supply
1.4
Down -25%
Vs. Year Ago
Down -25%
Vs. Year Ago
Up
Vs. Year Ago
Down -60%
Vs. Year Ago

Months of Supply
In June, there was 1.4 months of supply available in Rumson, Monmouth Beach, and Red Bank, compared to 3.6 in June 2020. That is a decrease of 60% 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 108 homes newly listed for sale in Rumson, Monmouth Beach, and Red Bank compared to 144 in June 2020, a decrease of 25%. There were 95 current contracts pending sale this June compared to 126 a year ago. The number of current contracts remained stable as compared to last June.

Sale Price to List Price Ratio
In June, the average sale price in Rumson, Monmouth Beach, and Red Bank was 102.5% 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 17, lower than the average last year, which was 54, a decrease of 69%.

The Long & Foster Market Minute Rumson, Monmouth Beach, and Red Bank are defined as properties listed in zip code/s 07760, 07750, 07701, 07704 and 07739.
*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.