Market Update
Rumson, NJ 07760 Single Family Homes
Wed Jan 13 2021
This week the median list price for Rumson, NJ 07760 is $1,747,499 with the market action index hovering around 35.
This is less than last month’s market action index of 36.
Inventory has held steady at or around 46.
Market Action Index (MAI)
This answers “How’s the Market?” by comparing rate of sales versus inventory.
The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, we’re in the Seller’s zone.
Watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit.
If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.
Long Branch, NJ 07740 Single Family Homes
Wed Jan 13 2021
This week the median list price for Long Branch, NJ 07740 Single Family home is $789,000 with the market action index hovering around 43.
This is less than last month’s market action index of 44.
Inventory has held steady at or around 27.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks.
This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.
Long Branch, NJ 07740 CONDOS
Wed Jan 13 2021
This week the median list price for Long Branch, NJ 07740 Condos is $899,000 with the market action index hovering around 29.
This is less than last month’s market action index of 30.
Inventory has held steady at or around 74
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
The market has been consistently cool for several weeks. Demand level are low relative to the available inventory.
It’s a Buyer’s market and prices continue to fall.
Look for a persistent shift in Market Action before prices plateau or begin to rise again.
Monmouth Beach, NJ 07750 Single Family Homes
Wed Jan 13 2021
This week the median list price for Monmouth Beach, NJ 07750 is $2,580,000 with the market action index hovering around 47.
This is an increase over last month’s market action index of 43.
Inventory has held steady at or around 5.
The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices.
Current supply and demand levels show no sign of prices changing from their current trend.
Monmouth Beach, NJ 07750 CONDOS
Wed Jan 13 2021
This week the median list price for Monmouth Beach, NJ 07750 is $687,500 with the market action index hovering around 44.
This is less than last month’s market action index of 47.
Inventory has held steady at or around 8.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
The market has started cooling and prices have recently plateaued. Since we’re in the Seller’s zone, watch for changes in MAI.
If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.
