Bay Head & Mantoloking Market Update - September 2024
Edwin (Ed) O’Malley
As a life-long, year-round resident of the Bay Head and Mantoloking area, Ed combines his outstanding local knowledge and connections with his 20 year...
As a life-long, year-round resident of the Bay Head and Mantoloking area, Ed combines his outstanding local knowledge and connections with his 20 year...
We hope that your summer finished up well, and that your fall is off to a good start! Though the market here in Bay Head and Mantoloking remains active, inventory is slowly returning to "traditional" levels - in August, there were 11 active listings in Bay Head, and 8 in Mantoloking. This is still lower than normal, but far higher than inventory was during Covid, and the years immediately following. We are also seeing an increase in the amount of time that homes are spending on the market prior to selling - as of this writing, 8 homes in Bay Head and Mantoloking have been on the market for 100 days or more. The increased time on the market has also resulted in more price reductions than we have seen in the last two to three years - 6 of the 8 homes mentioned above have had at least one price reduction. Having said all of the above, properly priced homes are still selling within a reasonable amount of time, especially in the segment of the market that is below $2,000,000.
In August, there were four closings in Bay Head, and none in Mantoloking, and only one home went under contract in Bay Head (none in Mantoloking).
You can search and browse all listings here. Though prices remain strong, 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 of9/9/2024, and are provided for the month just concluded.
$1,502,500/N/A
Average Sales Price
6.6/7.3
Months of Supply
47/N/A
Average Days on Market
Homes Sold
87.2%/N/A
Sale-to-List Price
5/3
New Listings
1/0
Under Contract
11/8
Active Listings
4/0
Closed Sales