Seller Update - Monmouth County

Hey there, Sellers! Let's dive into some key real estate metrics that can help you better understand the current market trends and how they can impact your selling experience.

First up, we have the Months Supply of Inventory, which sits at a low 2.01. This indicates that there is a relatively low inventory of homes on the market compared to the current level of demand. With less competition out there, your property could stand out more to potential buyers.

Next, we see a 12-Month Change in Months of Inventory of -88.5%. This means that the inventory of homes for sale has decreased significantly over the past year, creating a more competitive market for sellers. With fewer homes available, yours could attract more attention from eager buyers.

When we look at the Median Days Homes are On the Market, we see a quick turnaround time of just 27 days. This suggests that homes in this area are selling fast, which could be great news for you if you're looking to sell quickly.

The List to Sold Price Percentage is a strong 99.6%, indicating that sellers in this market are typically getting very close to their asking price when their homes sell. This could give you confidence in setting an asking price that reflects the current market conditions.

Finally, the Median Sold Price in this area is $710,000. This gives you an idea of the average price at which homes are selling, allowing you to gauge where your property might stand in comparison.

Overall, these metrics paint a picture of a fast-moving and competitive market where homes are selling quickly and close to their asking prices. If you're thinking about selling, now could be a great time to capitalize on these favorable conditions. So, get ready to showcase your property and attract those eager buyers!