August 2020 Sea Girt Market Review

The housing market in Sea Girt in the month of August was just as active as the rest of the shore communities in Monmouth County. Even though homes in this luxury market are exclusive and well-priced, inventory is very limited and homebuyers continue to take advantage of low interest rates to invest in these desirable properties.

There were 24 active listings with an average list price of $2,558,333. These market statistics have remained steady throughout the summer months. Seven homes closed with an average sale price of $2,946,429, which was a dramatic increase from last month when it was only $1,561,800. Eight new listings were added and all but one were listed above $500,000.

The average number of days on the market was 130, which was an increase from July at 45 days. While this does seem like a significant time for a home to stay listed for sale, one can expect that homes in the high-end housing market sometimes take longer to sell. Ultimately in the end, the surge in home values is appreciating and housing economists expect this trend to continue as we move into the fall season.

Presently, there are 18 homes for sale and 5 homes under contract all within a price range upwards of $6,000,000. One property in particular, 718 Morven Terrace, is located in one the most desirable sections of Sea Girt, found directly on the sands with an oceanview one can only dream of.

This information was obtained through MORR Flex MLS and according to their service, it is deemed reliable but is not guaranteed.