New Jersey Real Estate Market Update: Trends in Long Branch, Monmouth County, and National Construction Insights

The real estate landscape is evolving rapidly, and staying informed is essential whether you're a seller, buyer, or investor. In this blog post, we explore the latest market updates for New Jersey—with insights from Long Branch and Monmouth County—as well as key national trends in housing construction. This comprehensive guide will help you understand inventory levels, pricing trends, mortgage rates, and construction data to navigate today's competitive market with confidence.

Local Market Highlights: Long Branch vs. Monmouth County

Long Branch Market Update

In Long Branch, the market is showing strong signs of stability and healthy demand. According to recent data provided by Ryan Skove, REALTOR® with eXp Realty, the current market metrics for January 2025 are impressive:

• Months Supply of Inventory: At 5.44 months, there has been a dramatic decrease of -96.54% over the past year. This low inventory level highlights the strong demand for homes in Long Branch.
• Sold to List Price Percentage: Homes are selling at 98.6% of their list price, indicating that both buyers and sellers are experiencing a balanced market.
• Median Days on Market: With properties selling in just 22 days, the pace is fast, ensuring that sellers can move quickly.
• Median Sold Price: The robust median sold price of $769,000 reflects market stability and strong buyer interest.

This data makes Long Branch an attractive market for sellers looking to capitalize on high demand and prompt transactions.

Monmouth County Market Update

Shifting focus to Monmouth County, the market conditions are even more favorable for sellers:

• Months Supply of Inventory: A significantly lower inventory of just 1.75 months underscores a highly competitive seller's market, with inventory declining by -97.55% over the past year.
• Sold to List Price Percentage: Homes in Monmouth County are achieving an outstanding 100.4% of their list price, suggesting that buyers are willing to offer above asking price in this competitive environment.
• Median Days on Market: With a median of 28 days on the market, properties are moving quickly.
• Median Sold Price: The median sold price stands at $715,000, reflecting a robust appreciation in home values.

Monmouth County's dynamic market, characterized by low inventory and strong pricing trends, presents excellent opportunities for homeowners ready to sell.

National Housing Construction Trends and Mortgage Rates

While local markets in New Jersey are bustling, national housing construction data provides additional context for broader market trends:

• Mortgage Rates: Current rates show a 30-year fixed mortgage at 6.89% and a 15-year fixed at 6.37%. These rates are slightly lower by a marginal -0.07% and -0.04%, respectively, which helps maintain buyer interest despite rising costs.

• Building Permits vs. Housing Starts: Recent Census Bureau reports indicate that building permits have remained stable, with monthly numbers hovering around 1.48 to 1.49 million units. In contrast, housing starts have shown volatility—ranging from 1.305 million to 1.515 million units before settling at 1.366 million. This fluctuation highlights that while new construction is dynamic, building permits offer a steady forecast of future housing availability.

  

   

• Regional Variations: The national market reveals diverse trends:

  • The Northeast saw a 27.6% decline in housing completions.
  • The South experienced the largest drop in absolute numbers, with a decrease of 207,000 units.
  • The West recorded a robust rebound of 42.3% (119,000 units), while the Midwest experienced a modest decline of 9.2% (21,000 units).

These construction metrics are crucial for understanding the overall health of the housing market and anticipating future shifts in inventory and demand.

How These Trends Impact Your Real Estate Strategy

For Sellers:

The rapid pace of sales in both Long Branch and Monmouth County means that now could be an ideal time to list your property. With properties moving quickly and selling at or above their list price, sellers can benefit from reduced market exposure and enhanced returns on their investments.

For Buyers:

In a competitive seller’s market, buyers need to be prepared. Understanding regional market differences and keeping an eye on mortgage rates and housing construction trends can help you make informed decisions and secure a property that fits your needs.

For Investors:

Investors can leverage these insights to identify growth opportunities in both local and national markets. Whether you're flipping homes or investing in long-term rental properties, the current market dynamics suggest that strategic investments in areas with low inventory and high demand could yield strong returns.

Final Thoughts

The real estate market in New Jersey is thriving, with Long Branch and Monmouth County showcasing vibrant trends that favor sellers. Coupled with national insights on mortgage rates and housing construction, the current environment is ripe for informed decision-making. By staying updated on key metrics like housing inventory, median days on market, and sold price percentages, you can navigate this dynamic landscape with confidence.

♦ Stay ahead of the curve by leveraging these insights, and whether you're planning to buy, sell, or invest, let the data guide your next move in today's ever-changing real estate market.