Monmouth County Real Estate Market This Past Month During COVID-19

*Last updated April 22, 2020. As per FlexMLS.
This graph tracks the New, Under Contract, and Closed Listings day-by-day in Monmouth County, New Jersey. This way, you can see how COVID-19 has impacted sales on a daily basis. New listings refer to new homes coming on the market. Under contract listings are homes that are currently selling. Closed listings are homes that may have gone under contract a month or more ago, and have just officially sold. In order to assess how the market is performing in terms of supply and demand, it is better to look at new and under contract listings. From this chart, we can see that around the last week of March, there were significantly more homes going under contract than there were new homes coming on the market. This indicates a strong seller’s market. As we continue through April, we can see the new and under contract listings becoming more equal. This indicates that we are now in a balanced market, as homes are selling at approximately the same rate that they are coming on the market. Also, if you disregard the few outliers that occurred near the end of March in terms of closed listings, you can see that closings have remained relatively constant. This means that houses are both selling and closing at a fair rate relative to new inventory. However, please keep in mind that all of this information is on a very broad scale. This could differ from town to town, neighborhood to neighborhood, and amongst different price points within each town. For information specific to your situation, feel free to reach out to me directly. Stay safe!
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Asking the right questions is crucial, especially when plunging into homeownership. There’s always been a long checklist of questions for you to know and understand every part of the real estate transaction. But how about “soul searching” questions you should be asking yourself first? Many times, these questions are often overlooked simply because they can make you feel uncomfortable.
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In this blog, we list five tips to keep your kids involved and informed about the home purchase. They may not fully understand its many aspects, but making your children feel included and valued can help ease the transition and get them excited about relocating.
First impressions matter, especially in real estate. It’s particularly crucial in spring, which is considered the busiest selling period in many housing markets. Many potential buyers start looking for homes, and your goal is to entice them on the outside so they’d be willing to look on the inside. When buyers pull up to your home’s curb or see photos of your home online, you want them to be excited by what they see, so your home’s exterior needs to look as welcoming and inviting as possible.
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