Are you interested in how the Monmouth County Adult Community Real Estate Market is doing?
The Monmouth County Adult Community Market
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What is going on in the adult community real estate market in Monmouth County? Are prices holding steady, declining or appreciating? Here’s what the numbers are telling me.
What’s Available
Let’s begin with the fact that there are 43 adult communities in Monmouth County. As of today, 4/22/19, there are 195 homes available in these communities. Asking price begin at $19,995 and go up to $975,000. The average adult community home has is 88 days
What Has Sold
In the past 6 months, 256 homes in Monmouth County adult communities have been sold. In addition, there are 91 homes under contract, which means they’re just waiting for the closing to be finalized. By combining the closed sales and the under contract sale, a total of 347 homes have sold in the past 6 months. This gives an average of 57.83 homes that were sold per month which means there is currently a 3.37 month supply of available homes. Historically, anything less than a 180 day supply of homes signifies a sellers market. In my opinion, we are in a sellers market.
Bottom Line
If you plan on selling your adult community home, you should be able to sell it quickly, as there is a shortage of available homes. Conversely, if you’re looking to buy, there’s a limited supply of available homes. And the prices seem to be considerably higher than they were a year ago. Either way, if you’re ready to either buy or sell, give us a call. We can help you just like we’ve helped hundreds of other people.
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