Bay Head & Mantoloking Market Update - September 2023

Though August saw a slight increase in inventory, the statistics for the month don't show the current trends.  In the first few weeks of September, there have been a number of new listings in both towns, some of which have quickly received multiple offers, and have gone under contract.  Some of these are our listings - 1089 Barnegat Lane,  and others are ones that our clients pursued, sometimes successfully - 653 Lake Avenue!  Our listing at 950 South Lagoon Lane, Mantoloking also went under contract in August.  There was also a recent closing at 974 Barnegat Lane, Mantoloking ($4,200,000).  We also have some new listings, including 564 Lake Avenue, Bay Head.  Though there is new inventory, it seems to be not quite able to keep up with demand, based on the multiple offer situations.  Homes below $2,500,000 are especially hard to find!

 

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 9/12/23, and are provided for the month just concluded.