Melissa DeSantis' Market Report
Howell, NJ 07731
Single-Family Homes
REAL Broker - 732-757-2522 - mdesantisrealestate@gmail.com
Howell, NJ 07731
Mon Jun 05 2023
This week the median list price for Howell, NJ 07731 is $632,000 with the market action index hovering around 58. This is an increase over last month's market action index of 57. Inventory has decreased to 52.
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 | $632,000 | |
| Median Price of New Listings | $599,000 | |
| Per Square Foot | $299 | |
| Average Days on Market | 73 | |
| Median Days on Market | 35 | |
| Price Decreased | 31% | |
| Price Increased | 2% | |
| Relisted | 17% | |
| Inventory | 52 | |
| Median Rent | ||
| Market Action | 58 | |
| Strong Seller's Market | ||
Prices in this zip code seem to have settled around a 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 |
|---|---|---|---|---|---|---|---|---|
| $985,000 | 3,031 | 1 - 2.5 acres | 5 | 3 | 22 | 1 | 0 | 126 |
| $690,000 | 2,328 | 8,000 - 10,000 sqft | 4 | 2.5 | 33 | 3 | 4 | 35 |
| $599,000 | 2,032 | 0.25 - 0.5 acre | 4 | 2.5 | 37 | 4 | 3 | 14 |
| $440,000 | 1,632 | 0.25 - 0.5 acre | 3 | 1.5 | 65 | 5 | 5 | 42 |