How’s the Market…Really?

Written By Carly

It is hard to believe we are already mid-way through January 2023! Now that almost all of the winter holidays are over, I wanted to share some key information about the Monmouth County, NJ Real Estate Market. There has been so much negativity in the national news about the real estate market. But how is the market really doing in Monmouth County, NJ? We actually had a very strong year in 2022, if we only look at price growth. However, if we look at total sales volume, we see a different story.

Here are some key facts about how the Monmouth County, NJ Real Estate market performed in 2022:

  • The median sale price across all housing types grew 9.8%

  • The overall median sale price by the end of 2022 was $580,000. That includes the aggregate housing types of single family, condo/townhomes, and active adult homes.

  • The total number of homes that sold in 2022 decreased by 18.2% compared to the sales volume of 2021. That means over 1800 fewer homes were sold in 2022 compared to 2021.

  • The overall list-to-sale price ratio was 101% on average for the year 2022. That means that on average, houses sold for over list price in 2022.

  • The average days on market for the year was 25 days for a house to be listed and then be marked "under contract".

  • For the year 2022, on average there was only 1.95 months of inventory supply . That metric truly express the "Low Inventory" environment that existed in Monmouth County, NJ, throughout the whole year.

  • Interest rates have decreased in January 2023 compared to where they were in the Fall of 2022.

Based on the statistics and the activity that I am seeing, I believe that buyers will have a little easier time finding a house in 2023 compared to 2022. I believe the reduction in competition will primarily come from the higher interest rates that may price some buyers out of the market. Sellers are in a very strong position right now in 2023, because the Monmouth County housing inventory is still running much lower than in the pre-pandemic year of 2019.

For more details about the real estate market, please take a look at my video. You are always welcome to email me for any real estate curiosities or questions you may have!

Carly

Carly York is a Real Estate Expert who helps home sellers and buyers transform their lifestyles!

She understands that moving is more than a transaction—it’s a major life change. Carly knows that homeownership isn’t just the American Dream; it’s the key to living life on your own terms.

With a doctorate in education, Carly brings a rare blend of analytical skill, deep market knowledge, and a teacher’s ability to simplify complex real estate decisions. Since 2015, she has guided clients through numerous transactions, helping them buy and sell with confidence and peace of mind.

After taking a brief hiatus to focus on personal and professional growth, Carly has returned with fresh energy and a renewed commitment to her clients. Whether navigating a competitive market, preparing a home for sale, or finding the perfect property, Carly’s strategic approach ensures her clients achieve their real estate goals.

As a Monmouth County native, she offers unmatched knowledge of local towns, schools, and infrastructure—making her an invaluable resource for newcomers. Having personally endured major life challenges, including Hurricane Sandy, Carly is especially equipped to help clients facing transitions such as marriage, divorce, growing families, empty nesting, or other significant life changes.

Carly has earned the prestigious New Jersey Realtors® Circle of Excellence Sales Award for multiple years (2017, 2018, 2019, 2021, 2022) and is a proud Broker-Associate with Resources Real Estate in Colts Neck, NJ. In the ever-evolving real estate market, Carly is the expert guide that buyers and sellers need to make smart, informed decisions.

If you’re ready to move, Carly is ready to help!

https://www.MonmouthHomeSales.com
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