Bay Head & Mantoloking Market Update - October 2023

Inventory has increased slightly through September, and closings haven't quite kept up. Though there have been a number of closings (for example, our listing at 1090 Barnegat Lane - $6,425,000), there have also been some price reductions, and a handful of new listings that don't seem to be getting much attention. One property, 118 Park Avenue, Bay Head (not our listing) recently had a price reduction of $300,000. Our listings at 1089 Barnegat Lane, Mantoloking, 564 Lake Avenue, Bay Head, and 950 South Lagoon Lane, Mantoloking are all under contract, and are scheduled to close soon. Our newest listing at 47 Mount Street, Bay Head is also getting a lot of attention. Overall, the market remains healthy, and it is still a good opportunity for buyers and sellers, regardless of the relatively high interest rates.

 

You can search and browse all listings here. Though prices remain high, proper pricing and marketing remain important.

 

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 10/16/23, and are provided for the month just concluded.