July 2020 Spring Lake Market Review
Updated: Sep 9, 2020
If you take a drive through the tree-lined streets of Spring Lake, you can’t help but marvel at the meticulous lawns and gorgeous landscaping of the homes distinctive to this town. More importantly, you’ll observe new mansions being constructed on expansive lots all over different areas within walking distance to the beach. The real estate market is thriving in this beach community,
In July, five homes sold with an average sale price of $2,301,250. The average list price stayed fixed above three million dollars at $3,320,305. The number of days on the market remained steady at 109 days, which is comparable to last July when the average days on the market was 101. The number of homes listed for sale over the past several months show continued activity as July statistics reflect 47 active listings and 17 new listings.
As of the end of August, there were 50 homes for sale and 28 homes were under contract. The homes pending sale specific to Spring Lake Borough are all listed above one million dollars. It should be noted that this Spring Lake market analysis also includes Spring Lake Heights. I anticipate my next market review for August to reflect how sustained interest in this luxury market will continue to push home appreciation values higher.
This information was obtained through MORR Flex MLS and according to their service, it is deemed reliable but is not guaranteed.