May 2017
Focus On: Neptune, Ocean Grove, and Bradley Beach Housing Market
Zip Code(s): 07753,0 7756, 07720 and 07711
Units Sold
Active Inventory
Median Sale Price
Days On Market
69
238
$277,095
50
80
450
70
400
350,000
120
110
100
90
80
70
60
50
40
300,000
350
60
50
300
250,000
250
200,000
40
200
30
150
20
100
150,000
100,000
M-15 S-15
M-15 S-15 J-16 M-16 S-16 J-17 M-17
Up 21%
Vs. Year Ago
J-16 M-16 S-16
J-17 M-17
M-15 S-15 J-16 M-16 S-16 J-17 M-17
Down -26%
Vs. Year Ago
M-15 S-15 J-16 M-16 S-16 J-17 M-17
Down -6%
Vs. Year Ago
Down -12%
Vs. Year Ago
Units Sold*
60
Sold Detached
Sold Attached
Sold Condo/ Coop
Units Sold
There was an increase in total units sold in May, with 69 sold
this month in Neptune, Ocean Grove, and Bradley Beach. This
month's total units sold was higher than at this time last
year.
50
40
30
20
10
Active Inventory*
0
450
Active Detached
Active Attached
Active Condo/ Coop
400
350
300
Active Inventory
Versus last year, the total number of homes available this
month is lower by 84 units or 26%. The total number of active
inventory this May was 238 compared to 322 in May 2016.
This month's total of 238 is higher than the previous month's
total supply of available inventory of 233, an increase of 2%.
Median Sale Price
350,000
300,000
250,000
200,000
150,000
100,000
May-16
$295,000
May-17
$277,095
250
200
150
100
50
0
Median Sale Price
Last May, the median sale price for Neptune, Ocean Grove,
and Bradley Beach Homes was $295,000. This May, the
median sale price was $277,095, a decrease of 6% or $17,905
compared to last year. The current median sold price is 11%
higher than in April.
50,000
0
Median sale price is the middle sale price in a given month. The same number
of properties are above & below the median.
Neptune, Ocean Grove, and Bradley Beach are defined as properties listed in zip code/s 07753,0 7756, 07720 and 07711.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster’s
knowledgeable and experienced sales associates.
Information included in this report is based on data supplied by MOMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does
not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not
constitute an opinion of MOMLS or Long & Foster Real Estate, Inc.
May 2017
Focus On: Neptune, Ocean Grove, and Bradley Beach Housing Market
Zip Code(s): 07753,0 7756, 07720 and 07711
New Listings
Current Contracts
Sold Vs. List Price
Months of Supply
104
77
96.2%
3.5
90
102.0%
80
100.0%
70
60
98.0%
100
80
50
94.0%
6.0
40
92.0%
4.0
30
90.0%
40
20
88.0%
20
10
86.0%
140
120
60
M-15 S-15 J-16 M-16 S-16
J-17 M-17
Down -4%
Vs. Year Ago
12.0
10.0
8.0
96.0%
M-15 S-15
J-16 M-16 S-16
J-17 M-17
2.0
0.0
M-15 S-15 J-16 M-16 S-16 J-17 M-17
Up 75%
Vs. Year Ago
Down -2.3%
Vs. Year Ago
M-15 S-15 J-16 M-16 S-16 J-17 M-17
Down -39%
Vs. Year Ago
Months Of Supply
8.2
5.4
5.1
5.4
6.3
6.0
In May, there was 3.4 months of supply available in Neptune,
Ocean Grove, and Bradley Beach, compared to 5.6 in May
2016. That is a decrease of 39% versus a year ago.
6.1
6.4
5.7
4.6
6.0
5.5
6.5
5.1
5.1
4.1
5.9
5.9
3.6
5.0
3.5
4
5.7
6
8.4
7.6
10
8
Months of Supply
9.6
12
Months of supply is calculated by dividing current inventory by current sales. It
indicates how many months would be needed to sell all of the inventory
available at the current rate of demand.
2
0
New Listings & Current Contracts
140
New Listings & Current Contracts
This month there were 104 homes newly listed for sale in
Neptune, Ocean Grove, and Bradley Beach compared to 108 in
May 2016, a decrease of 4%. There were 77 current contracts
pending sale this May compared to 44 a year ago. The
number of current contracts is 75% higher than last May.
Number of New Listings
Total Pending
120
100
80
60
40
20
0
Sale Price/ List Price & DOM
102%
100%
98%
96%
94%
92%
90%
88%
86%
Avg Sale / Avg List
Average DOM
120
100
80
60
40
20
0
Sale Price to List Price Ratio
In May, the average sale price in Neptune, Ocean Grove, and
Bradley Beach was 96.2% of the average list price, which is
2.3% lower than at this time last year.
Days On Market
This month, the average number of days on market was 50,
lower than the average last year, which was 57, a decrease of
12%.
Neptune, Ocean Grove, and Bradley Beach are defined as properties listed in zip code/s 07753,0 7756, 07720 and 07711.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster’s
knowledgeable and experienced sales associates.
Information included in this report is based on data supplied by MOMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does
not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not
constitute an opinion of MOMLS or Long & Foster Real Estate, Inc.