Two River Real Estate Statistics - January 2012

Here are real estate statistics for the towns in the Two River Area - Little Silver, Oceanport, Rumson, Fair Haven, Monmouth Beach, Red Bank, Shrewsbury and Middletown for January 2012. 

Prices of homes sold and under contract in the Two River area showed a healthy increase for January 2012.

In the Peninsula area, there were 49 homes sold in January, a decline from 68 units sold in December.  The average closing price of $557,881 was more $115,000 higher than a month earlier buoyed by a number of higher priced houses in Monmouth Beach and Rumson selling for an average of $1,200,000 and $885,000, respectively.

Homes are selling in the area -- the number of houses "Under Contract" rebounded by 6 units to 72 homes and the average selling price was $683,183 up 13% from December.

Inventory is slowly coming back onto the market increasing by 14 units to 663.  The average asking price of current inventory is holding firm, right now in the $800,000 range and about 130 days on the market. 

The recent jobs report came in better than expected but but continued uncertainty from the European financial markets has helped to keep our mortgage rates at historical lows with a 30-year mortgage rate of 3.875%.  The February Consumer Sentiment Report is scheduled to be released on Friday. 

For more details and more New Jersey real estate and economic news, visit our website at www.TwoRiverRealty.com.