the RESOURCESreport

Monmouth CountyReal Estate Market Report1st Quarter 2014

the RESOURCESreport

resourcesrealestate.com

Thomas McCormackManaging Partner - Brokertom@resourcesrealestate.com

As old man winter finally retreats and we find the Spring market upon us, we at Resources Real Estate eagerly await the annual rush of willing buyers into our marketplace. Like a seasonal migration, they come from around the corner and sometimes from around the globe to our corner of the world — this beautiful place called Monmouth County. The place we call home.

And as our market continues to heat up, we know there’s a level of anxiety among buyers who understand that low inventory makes their task a very real competition.

With unit sales gains of almost 12.5%, dollar volume sales up more than 19%, and available inventory diminished by 8%*, now more than ever, market knowledge and negotiating know-how are key skills to achieving the goal.

We take pride in helping our clients understand the market and what they need to do to be successful. So whether buyer or selling, when you need the services of an exceptional agent we hope you’ll think of Resources Real Estate.

Tom

(* For the 12 month period ending with first quarter 2014.)

As we finally shake off the last vestiges of Winter and see the flashes of color of daffo-dils and crocus pushing their way up toward the light, we too feel the effects of inevita-ble growth and are excited about the real estate market budding along with the Spring.

Despite the recent harsh weather, we are experiencing multiple bids on properties that are priced correctly, making it almost impossible for buyers to take a wait-and-see attitude. Sellers that overprice continue to see their homes take longer to sell and generally for less.

Our market data is uncompromisingly clear and we spend time with each seller advising on their individual market, as well as recent trending.

At Resources Real Estate, 2014 brings us exclusive windowfront interactive technolo-gy which, while still uncommon here, is widely used in Europe. We are confident our clients will again benefit from our continued leadership in technology development in our market. We bring things to our real estate clients, that no other companies offer, we are not afraid of being bold!

Our agents are simply the best educated in the market. We continue to hire only the best available agents and our training is unparalleled. The confidence our clients show in our agents is well evident: we’ve recently listed the most exclusive waterfront home in the area, a landmark home that delivers an exceptional lifestyle for the most sophisticated buyer in the market. We are honored to represent this spectacular property. We believe that every house has a story and we are honored to tell yours.

Carolynn

Carolynn Ozar-DiakonBroker - Senior Partnercarolynn@resourcesrealestate.com

QuaRTERLy REPORT2013 2014

1st Qtr 2nd Qtr 3rd Qtr 4th Qtr 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr

AtlAntic HigHlAnds

Number of Sales 6 14 14 19 9

Days on Market 223 106 90 116 105

Average Price $805,555 $656,374 $385,187 $475,960 $341,014

Median Price $765,000 $542,350 $396,042 $404,133 $330,250

Highest Price $1,150,000 $1,480,488 $745,000 $1,280,000 $510,000

colts neck

Number of Sales 21 31 47 25 21

Days on Market 105 134 115 134 178

Average Price $786,751 $951,222 $783,952 $852,680 $719,127

Median Price $634,375 $855,500 $673,150 $735,833 $618,116

Highest Price $2,200,000 $3,750,000 $2,450,000 $1,765,000 $1,800,000

FAir HAven

Number of Sales 16 23 39 30 19

Days on Market 93 74 85 71 105

Average Price $647,638 $932,338 $703,259 $919,854 $884,601

Median Price $586,763 $711,500 $692,333 $711,500 $691,166

Highest Price $1,352,000 $3,300,000 $1,479,000 $3,600,000 $2,250,000

Holmdel

Number of Sales 22 38 58 38 21

Days on Market 117 105 70 92 75

Average Price $716,528 $828,609 $718,749 $757,560 $750,407

Median Price $610,816 $698,500 $648,500 $694,167 $687,650

Highest Price $1,750,000 $2,582,200 $1,852,150 $2,750,000 $1,400,000

bit.ly/rumsonwaterfront

resourcesrealestate.com

QuaRTERLy REPORT2013 2014

1st Qtr 2nd Qtr 3rd Qtr 4th Qtr 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr

little silver

Number of Sales 13 32 33 13 10

Days on Market 95 94 45 39 46

Average Price $577,394 $632,942 $726,596 $630,041 $601,875

Median Price $561,667 $586,067 $611,721 $521,750 $616,167

Highest Price $1,100,000 $1,575,000 $1,800,000 $1,670,000 $1,137,500

long BrAncH

Number of Sales 19 36 38 29 26

Days on Market 115 128 119 85 154

Average Price $262,542 $277,010 $365,869 $302,180 $257,368

Median Price $217,083 $240,500 $257,500 $248,300 $251,167

Highest Price $1,187,500 $750,000 $1,220,295 $1,500,000 $484,000

middletown

Number of Sales 103 163 208 148 75

Days on Market 87 99 67 77 93

Average Price $397,076 $441,599 $495,838 $450,906 $413,065

Median Price $355,600 $397,500 $416,333 $425,000 $361,967

Highest Price $1,352,000 $2,725,000 $6,100,000 $1,325,000 $1,835,000

monmoUtH BeAcH

Number of Sales 4 5 15 13 5

Days on Market 73 113 109 131 83

Average Price $865,500 $863,100 $597,694 $900,311 $1,042,708

Median Price $963,000 $863,100 $426,500 $862,207 $1,096,875

Highest Price $1,315,000 $1,275,000 $1,800,000 $1,575,000 $2,125,000

bit.ly/7and11hillside

resourcesrealestate.com

QuaRTERLy REPORT2013 2014

1st Qtr 2nd Qtr 3rd Qtr 4th Qtr 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr

oceAnPort

Number of Sales 12 9 16 14 8

Days on Market 100 61 64 109 143

Average Price $396,075 $377,097 $526,507 $489,233 $579,000

Median Price $372,167 $350,750 $382,417 $443,500 $510,917

Highest Price $699,900 $770,000 $2,400,000 $805,000 $1,250,000

red BAnk

Number of Sales 14 21 18 20 6

Days on Market 201 105 90 57 46

Average Price $251,867 $475,638 $497,644 $527,553 $426,583

Median Price $264,583 $365,667 $388,000 $446,683 $422,166

Highest Price $535,100 $2,550,000 $1,650,000 $2,281,700 $724,000

rUmson

Number of Sales 20 32 38 38 17

Days on Market 93 87 86 79 115

Average Price $1,271,269 $1,063,287 $1,444,824 $1,178,908 $1,056,945

Median Price $1,095,833 $857,417 $1,358,417 $855,166 $1,127,500

Highest Price $3,034,000 $3,175,000 $3,200,000 $5,600,000 $2,125,000

sHrewsBUry

Number of Sales 6 8 12 10 5

Days on Market 86 150 63 89 154

Average Price $348,944 $653,633 $425,450 $664,436 $638,333

Median Price $328,500 $667,250 $444,167 $664,150 $640,000

Highest Price $490,000 $960,000 $515,000 $875,000 $950,000

resourcesrealestate.com

bit.ly/459locustpoint

resourcesrealestate.com

bit.ly/80senecaaNNuaL REPORT

2012 2013%

Change

monmoUtH coUnty

Number of Sales 4601 5192 13

Days on Market 107 91 -15

Average Price $472,637 $480,350 2

Median Price $371,875 $384,188 3

Highest Price $7,300,000 $6,425,000 -12

FAir HAven

Number of Sales 91 108 19

Days on Market 90 79 -12

Average Price $735,940 $805,139 9

Median Price $698,833 $667,000 -5

Highest Price $3,500,000 $3,600,000 3

Holmdel

Number of Sales 150 156 4

Days on Market 118 92 -22

Average Price $678,630 $757,940 12

Median Price $643,212 $658,500 2

Highest Price $1,975,000 $2,750,000 39

2012 2013%

Change 2012 2013%

Change

AtlAntic HigHlAnds

Number of Sales 45 53 18

Days on Market 107 120 12

Average Price $434,129 $522,798 20

Median Price $345,396 $420,000 22

Highest Price $1,650,000 $1,480,488 -10

colts neck

Number of Sales 87 124 43

Days on Market 117 121 3

Average Price $889,336 $831,089 -7

Median Price $672,345 $672,500 0

Highest Price $4,450,000 $3,750,000 -16

Monmouth County Price Comparisons

bit.ly/80wriver

resourcesrealestate.com

aNNuaL REPORT

2012 2013%

Change

little silver

Number of Sales 67 91 36

Days on Market 106 75 -29

Average Price $564,014 $670,679 19

Median Price $514,270 $555,000 8

Highest Price $1,800,000 $1,800,000 0

long BrAncH

Number of Sales 90 122 36

Days on Market 167 117 -30

Average Price $254,966 $311,803 22

Median Price $205,000 $236,000 15

Highest Price $1,900,000 $1,500,000 -21

middletown

Number of Sales 526 624 19

Days on Market 89 80 -10

Average Price $450,668 $456,357 1

Median Price $374,937 $399,250 6

Highest Price $7,300,000 $6,100,000 -16

monmoUtH BeAcH

Number of Sales 46 37 -20

Days on Market 135 119 -12

Average Price $879,905 $766,947 -13

Median Price $851,079 $634,000 -26

Highest Price $1,620,000 $1,800,000 11

2012 2013%

Change

oceAnPort

Number of Sales 58 51 -12

Days on Market 116 84 -28

Average Price $452,924 $446,027 -2

Median Price $394,500 $375,000 -5

Highest Price $1,200,000 $2,400,000 100

red BAnk

Number of Sales 58 74 28

Days on Market 80 109 36

Average Price $339,447 $435,018 28

Median Price $301,245 $333,500 11

Highest Price $1,640,000 $2,550,000 55

rUmson

Number of Sales 101 129 28

Days on Market 128 80 -38

Average Price $1,287,289 $1,280,255 -1

Median Price $1,171,833 $1,070,000 -9

Highest Price $4,090,000 $5,600,000 37

sHrewsBUry

Number of Sales 48 36 -25

Days on Market 88 87 -1

Average Price $503,429 $501,629 0

Median Price $481,950 $480,500 0

Highest Price $1,300,000 $960,000 -26

bit.ly/53clubway

bit.ly/134ocean

E S O U C E SR E A L E S T A T E B R O K E R

112 East River Road 36 Beach Rd Suite 3 4A West Front St 65 First AveRumson, NJ 07760 Monmouth Beach, NJ 07750 Red Bank, NJ 07701 Atlantic Highlands, NJ 07716

732-212-0440 resourcesrealestate.com

Information deemed reliable but not guaranteed. Data as of 4/3/14.Copyright 2014 by the Monmouth County Association of REALTORS®