Bay Head & Mantoloking Market Update - March 2023

If you’re thinking about selling your home (or even if you want to keep up with the market), it is important to have a good understanding of what’s going on in the Bay Head and Mantoloking market.

 

As we ease into the spring market, inventory has increased a bit - one new listing in Bay Head, one new listing in Mantoloking. In regards to market activity - there is more activity below $2,000,000, rather than above $2,000,000. A home in Bay Head recently came on the market at $1,325,000, and received more than one offer within a few days, and went under contract. Also, we had a closing a 513 Club Drive recently - $1,699,000, which is full asking price. This listing of ours also received several offers in the first few days on the market. Listings over $2,000,000, are receiving showings, but for the most part, are not attracting offers. Many buyers are in a "wait and see" pattern, as are many sellers, which is causing consternation on both sides of the market! We remain hopeful that there will be a traditional spring market, with the usual increase in inventory.

 

You can search and browse all listings here. Though prices remain high, proper pricing and marketing remain important. Please scroll down to see our company's waterfront and water view sales volume for 2022, and our historic sales volume for Bay Head and Mantoloking since 1985.

 

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 3/8/23, and are provided for the month just concluded.