Are We Approaching Recession Levels in Monmouth County Real Estate?

Written By Carly

Q1 2025 Market Analysis

A recent article in Fortune magazine caught my attention when Torsten Slok, Chief Economist of Apollo Investment Group, suggested that some housing markets are exhibiting "recession levels" of home sales. With mortgage rates remaining elevated, and affordability challenges persisting, many homeowners are holding onto their properties to maintain their lower mortgage rates.

But are we truly experiencing recession-like conditions in Monmouth County? Let’s take a look at the data.

Comparing Today's Market to the 2008-2010 Recession

Looking back at post-recession numbers:

  • 2009: 5,566 homes sold in Monmouth County

  • 2010: 5,530 homes sold (a 1.44% decrease)

Contrast this with our recent performance:

  • 2023: 6,624 homes sold

  • 2024: 6,981 homes sold

The verdict? Even in our current "low volume" market environment, we're still outperforming the actual recession period by more than 1,000 homes per year.

Q1 2025: Signs of a Strengthening Market

The first quarter of 2025 shows encouraging trends compared to the same period last year:

  • Home Sales: 10.8% increase (147 more homes sold)

  • New Listings: 4.8% increase (114 more homes coming to market)

  • Median Sale Price: 4.8% increase, now at $671,000

These figures demonstrate continued market resilience despite economic uncertainties.

Important Notes for Sellers

While the market remains active, sellers should adjust their expectations:

  1. Days on Market: Homes are taking longer to sell

    • January: 42 days

    • February: 47 days

    • March: 40 days

  2. Sale-to-List Price Ratio: Homes in Q1 2025 typically sold for about 2% below asking price

Current Inventory Snapshot (April 5, 2025)

Monmouth County currently has 1,280 housing units on the market:

  • 921 single-family homes

  • 276 condominiums

  • 83 active adult community homes

What Does This Mean For You?

Whether you're considering selling your home or looking to buy in Monmouth County, understanding these market trends is crucial for making informed decisions.

Curious about what your home might be worth in today's market? Interested in exploring current listings? I'm here to help!

Contact Dr. Carly York at Resources Real Estate
 Phone: 732-212-4440; cyork@ResourcesRealEstate.com

Market data sourced from Monmouth County MLS as of April 5, 2025.

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
Next

Smart Ways to Use Your Home Equity