Bay Head & Mantoloking Market Update - November 2023
We hope that you've had a good fall so far, and that you're looking forward to a nice Thanksgiving! The Bay Head and Mantoloking market remains active, and though inventory has increased slightly, it is still not back up to normal levels - at the moment, there are 10 and 9 active listings in Bay Head and Mantoloking, respectively. There have been a number of recent closings in Bay Head and Mantoloking, including some of ours - 564 Lake Avenue ($4,220,000), 1089 Barnegat Lane (asking $3,000,000), and 653 Lake Avenue ($1,300,000), and950 South Lagoon Lane (Asking $7,200,000). At the time of this writing, there is only one home under contract in the two towns combined. We have also seen a handful of homes withdrawn from the market recently, presumably, due to lack of interest or offers. Having said that, many homes are still selling quickly, with average days on market for Bay Head at 35, and 24 for Mantoloking.
Overall, the market remains healthy, and it is still a good opportunity for buyers and sellers. Happily, interest rates have come down ever so slightly.
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 11/7/23, and are provided for the month just concluded.