Bay Head and Mantoloking Home Values Are Up About 75% per Square Foot

Average sale price can swing based on which homes happen to sell in a given year. Price per square foot gives a steadier read on value. Across both towns, the median price per square foot rose from $786 in 2021-22 to $1,373 in the most recent 12 months, an increase of about 75%.

In Bay Head, the median rose from $704 to $1,366 per square foot. In Mantoloking, it rose from $901 to $1,446. Both towns gained in four of the five periods, with a small dip in 2024-25 followed by a strong past year.

Average sale prices moved in the same direction. Bay Head's average rose from $2.40 million to $5.06 million, with most of that gain coming in the past 12 months. Mantoloking's average rose from $4.53 million to $5.40 million, moving up and down along the way because each year includes a smaller number of sales.

Cash Buyers Make Up Two-Thirds of Sales

In 2021-22, 40% of home sales in Bay Head and Mantoloking closed in cash. That share has risen every year since, reaching 67% in the past 12 months.

Bay Head saw the largest change, with cash purchases rising from 31% of sales to 59%. Mantoloking has been mostly a cash market throughout, with about three of every four sales closing in cash over the past three years.

For sellers, this points to a strong pool of well-positioned buyers. For buyers using a mortgage, it helps to know you may be competing with cash offers, so having your financing in order before you start touring homes is worth the effort.

More Sales at the Upper End, With Opportunities Across Price Ranges

Sales of $5 million and above doubled over the five years, from 6 in 2021-22 to 12 in the past 12 months. Homes under $2 million remain an important part of the market, especially in Bay Head, where they accounted for 48 of the town's 107 sales over five years and sold in a median of 32 days. Fewer sold in the past year, so buyers in that range should be prepared to move quickly when the right home comes on the market.

Days on Market: The $3.5 to $5 Million Range Sells Fastest

Across both towns, homes priced between $3.5 million and $5 million sold faster than any other price range, with a median of 21 days on market. Homes under $2 million sold in a median of 36 days, homes from $2 million to $3.5 million in 46 days, and homes at $5 million and above in 57 days.

The two towns are moving in different directions on market time. In Bay Head, the typical home now sells faster than it did five years ago, with median days on market falling from 42 to 24. The average rose to 72 days, but that reflects a few homes that took much longer to sell, including one that closed after 427 days.

In Mantoloking, homes are taking longer. Median days on market rose from 31 to 71. Market time peaked in 2024-25, at a median of 114 days, and has eased since.

Sale prices compared with list prices tell a similar story. In the past 12 months, Bay Head homes sold for an average of 98% of their list price, and Mantoloking homes for 94%.

What This Means for Buyers and Sellers

• Sellers: Home values per square foot are up about 75% over five years, and two-thirds of recent buyers paid cash.
• Sellers in Mantoloking: Plan for a longer timeline. The median home took 71 days to sell this past year.
• Sellers above $5 million: Expect more time on market, with a median of 57 days across both towns.
• Buyers in Bay Head: Homes are selling quickly and close to asking, so be ready to act when the right home comes along.
• Buyers in Mantoloking: Longer market times and sale prices averaging 94% of list price can leave room for conversation.
• Buyers with a mortgage: Expect competition from cash buyers and have your financing lined up early.