Bay Head & Mantoloking Market Update - April 2023
If you’re thinking about selling your home (or even if you want to keep up with the market), it is important to have a good understanding of what’s going on in the Bay Head and Mantoloking market.
In March, there was a slight increase in market activity in Bay Head and Mantoloking - there were 2 new listings in Mantoloking (none in Bay Head), and a total of 5 properties went under contract in two towns combined, including two of our listings. - 134 Bridge Avenue, Bay Head and 1090 Barnegat Lane, Mantoloking. There was one closing in Mantoloking, ut there were none in Bay Head. There are quite a few buyers looking for homes to buy, but many sellers are staying put (hence the low inventory) - either because they have a low interest mortgage in place, or, their homes are paid for. And, why compete to buy in a limited inventory market if you don't have to...? Our listing at 950 South Lagoon Lane has also returned to the market, at a new price of $7,200,000. Overall, we are seeing more activity in the low to mid-range price point - $1,000,000 to $3,000,000, than at the higher end - eg - $5,000,000+.
Knowing the most important data such as the average sales price, the number of homes sold, and days on market will help you to better track the pulse of the market.
Note that we are now providing town statistics in a new format. The number before the slash (/) is for Bay Head, the number after the slash is for Mantoloking. This way, we can provide you with more detailed information. NOTE: You may see that some numbers are marked 0 or NA - per the MLS there is no data for that statistic for this time period - eg - no closings, or no new listings.
NEW: If a ↑ or a ↓ accompanies a statistic, that is the direction of the trend from the previous month's number - up or down.
If you would like to talk about the market, your property, or anything else, please let us know. All conversations are confidential.
Statistics are per the Monmouth/Ocean MLS as of 4/10/23, and are provided for the month just concluded.