Bay Head & Mantoloking Market Update - January 2024
We hope that the new year is off to a good start for you! As you'll see below, the year finished up quietly in Bay Head and Mantoloking, with only one closing in Bay Head in December, and none in Mantoloking. Inventory remains low at the moment, with just six homes on the market in the two towns combined (many of which are "old" listings - either they have been on the market before, or have been on the market for an extended period of time). We do customarily have a lull as described above, late in the year, and then again early in the new year - the weather is not conducive to marketing and showing homes, and most people (owners and buyers) have other things on their minds. Having said that, predictions from various sources (including us) suggest that 2024 should be a good year for the real estate market - perhaps a reduction in interest rates, and an increase in inventory - all in all, a return to a more typical balanced market. If you have any questions, please let us know.
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 1/9/24, and are provided for the month just concluded.