October Market Update

Dated: October 4 2020

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Curious how the market in Monmouth County is doing during the last few months of 2020? If you’re on the hunt for a home or looking to sell, no doubt you are.

I can tell you demand is high, interest rates are low, and buyers are ready to purchase so they can be settled in for the holidays.

Here's what I'm seeing right now in Monmouth County over the past month:

With mortgage rates at 2.99% APR today, buyers are VERY actively shopping for properties while rates remain this low. Single family homes have an average list price of $993,740, which has increased from $871,126 in September – as you can see, the statistics indicate that the shortage of homes is driving up the sales price for the new homes coming on the market. These homes are spending an average of 44 days from contract to closing.

Quick version? We are still in a sellers market!

If you have questions about what’s happening in your particular neighborhood, call or send me a message. I’d love to chat and answer any questions you may have.
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Kristen Irving

As Your REALTORĀ®... My goal is to make the buying and selling process as stress-free for my clients as possible. I pride myself in providing transparent communication, timely responses, and thorough....

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