Melissa DeSantis' Market Report
Howell, NJ 07731
Single-Family Homes
REAL Broker - 732-757-2522 - mdesantisrealestate@gmail.com
Howell, NJ 07731
Thu Sep 21 2023
This week the median list price for Howell, NJ 07731 is $704,999 with the market action index hovering around 62. This is less than last month's market action index of 63. Inventory has decreased to 44.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.
Real-Time Market Profile
| Median List Price | $704,999 | |
| Median Price of New Listings | $649,000 | |
| Per Square Foot | $317 | |
| Average Days on Market | 77 | |
| Median Days on Market | 35 | |
| Price Decreased | 36% | |
| Price Increased | 2% | |
| Relisted | 16% | |
| Inventory | 44 | |
| Median Rent | ||
| Market Action | 62 | |
| Strong Seller's Market | ||
We continue to see prices in this zip code bounce around this plateau. Look for a persistent down-shift in the Market Action Index before we see prices deviate from these levels.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $1,250,000 | 3,622 | 1 - 2.5 acres | 4 | 3.5 | 22 | 0 | 1 | 126 |
| $829,000 | 2,500 | 0.25 - 0.5 acre | 4 | 2.5 | 26 | 1 | 1 | 35 |
| $679,000 | 2,466 | 0.25 - 0.5 acre | 4 | 2.5 | 39 | 4 | 1 | 28 |
| $530,000 | 1,509 | 0.25 - 0.5 acre | 3 | 2 | 42 | 2 | 5 | 21 |