Monmouth County homes are selling more quickly as April prices creep up

The median home in Monmouth County listed for $826,725 in April, up 0.2% from the previous month's $824,900, an analysis of data from Realtor.com shows.

Compared to April 2023, the median home list price increased 3.5% from $799,000.

The statistics in this article only pertain to houses listed for sale in Monmouth County, not houses that were sold. Information on your local housing market, along with other useful community data, is available at data.app.com.

Monmouth County's median home was 1,894 square feet, listed at $397 per square foot. The price per square foot of homes for sale is up 9.5% from April 2023.

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Listings in Monmouth County moved briskly, at a median 37 days listed compared to the April national median of 47 days on the market. In the previous month, homes had a median of 39 days on the market. Around 774 homes were newly listed on the market in April, a 0.3% increase from 772 new listings in April 2023.

The median home prices issued by Realtor.com may exclude many, or even most, of a market's homes. The price and volume represent only single-family homes, condominiums or townhomes. They include existing homes, but exclude most new construction as well as pending and contingent sales.

Across the New York-Newark-Jersey City metro area, median home prices rose to $769,000, slightly higher than a month earlier. The median home had 1,505 square feet, at a list price of $556 per square foot.

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In New Jersey, median home prices were $555,000, a slight increase from March. The median New Jersey home listed for sale had 1,709 square feet, with a price of $303 per square foot.

Throughout the United States, the median home price was $429,950, a slight increase from the month prior. The median American home for sale was listed at 1,840 square feet, with a price of $230 per square foot.

The median home list price used in this report represents the midway point of all the houses or units listed over the given period of time. Experts say the median offers a more accurate view of what's happening in a market than the average list price, which would mean taking the sum of all listing prices then dividing by the number of homes sold. The average can be skewed by one particularly low or high price.

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The USA TODAY Network is publishing localized versions of this story on its news sites across the country, generated with data from Realtor.com. Please leave any feedback or corrections for this story here. This story was written by Ozge Terzioglu.

This article originally appeared on Asbury Park Press: Monmouth County home prices asked for more money in April 2024