May ’26 Market Update

Monmouth County Market Summary – May 2026

The Monmouth County housing market remains resilient despite fewer overall sales. Single-family home sales declined 16% year over year, but prices continued to climb, with the average sale price increasing 5.1% to just over $1.06 million and the median price rising 11.6% to $848,200. Homes are selling slightly faster, averaging 30 days on market, while sellers are receiving virtually 100% of their asking price. Inventory remains tight, down 8.2% from last year, continuing to support home values.

The condominium market presented a mixed picture. Sales volume was essentially unchanged, but average and median prices softened compared to last year. However, condos sold significantly faster, with average days on market dropping 25%, while inventory increased nearly 11%, giving buyers more choices than a year ago.

Ocean County Market Summary – May 2026

Ocean County’s single-family market continues to show steady appreciation despite a modest decline in sales activity. Closed sales were down 6%, while average and median sale prices increased 1.3% and 1.8%, respectively. Homes sold more quickly than last year, averaging just 37 days on market, and sellers continued to receive approximately 99% of their asking price. Inventory rose 5.2%, providing buyers with slightly more options while maintaining a balanced market.

The condominium market experienced a noticeable slowdown, with closed sales down nearly 33% year over year. Despite fewer transactions, pricing remained strong, with average sale prices increasing 5.4% and median prices rising 7.1%. Inventory also increased 8.4%, creating additional opportunities for buyers while sellers continued to benefit from stable property value

Overall, both counties continue to favor sellers in many segments, particularly in the single-family market, where low inventory and steady demand are keeping upward pressure on home values even as transaction volume moderates.

In the past year, I donated thousands of dollars to a variety of deserving pet rescue charities as part of my commitment to giving back a portion of my commissions to pets in need.  In the upcoming year, my commitment continues, so if you are a pet-lover, let’s talk.