Spring Real Estate Market

Being a Real Estate Industry professional I get asked by almost everyone in my professional and personal circles what are the current Real Estate trends in Monmouth and Ocean Counties? Here are my thoughts on that subject. This basically brutal winter has taken a toll on the inventory that’s available on the market. There can be reluctance for potential home sellers to list their properties for sale in rough weather conditions as most of them don’t want slush and mud tracked through their homes due to showings. The Purchase market, as most people know is typically slow December to mid- January as we progress through the Holiday season. We tend to see and uptick in activity after January and certainly post Super Bowl Sunday. This year however the weather has not cooperated causing a bit of a delay in the market activity. Those of us who are doing open houses can see on the few nice weather weekends we have had recently have brought out perspective buyers and as the snow thaws and stays away there should be an influx of properties coming on the market.

Taking a look at pricing trends I can tell you with almost 100% certainty that we are seeing increases in value versus where we were a few years ago. I have had several opportunities over the last few months to refinance former clients where no options existed due to values a couple of years ago. This could be do temporarily to a limited supply of homes on the market artificially trending prices higher, however I tend to believe it is partly that coupled with normal appreciation.

The Interest front has also cooperated with the market as rates have retreated back to almost historical lows. The bottom line of all of these situations is the market is poised to break out big for this spring and it is absolutely a fabulous time to Purchase or Refinance a home.

If you would like to ask any questions pertaining to your individual situation please feel free to contact me at 908-513-1202 or drop me an email at TheMonettiGroup@Gmail.com