Things are looking more and more positive for Asbury Park home sellers, but unfortunately are getting tougher for those interested in moving to town. As I am writing this, inventory remains exceptionally tight in town with no sign of change so far this year.

East of Main Street there are currently only five single family homes for sale over $400,000 and west of Main Street there are only three. The total inventory of single family homes in MLS is only 13 homes for sale over $ 300,000. These are not inventory levels we are used to seeing and the lack of inventory has clearly been causing prices to increase.

The picture for condominium buyers is even tougher. There are currently only 23 condominiums in the entire city listed in MLS for sale. In 2015, one hundred and fourteen condominiums closed; at that rate of 9.5 sales per month we currently only have a 10 week inventory of units to sell. With the new Hovnanian project sold out and units moving quite briskly downtown at Eureka; the lack of new inventory coming onto the market is going to cause prices to continue to rise. One year ago North Beach condominiums were plentiful in the $ 400's and $500's, now those numbers are nothing but a memory.

While there are always a number of economic factors that will influence the price of real estate, in Asbury Park we continue to have increased demand that shows no sign of letting up. With "empty nesters" throughout New Jersey now finding Asbury a full time place to live and weekenders from Hudson County, NYC and the Philadelphia area continuing to make this their second home, Asbury Park is a city that is truly on the move.

If you already live here you most likely are part of the reason for Asbury's success. If you are thinking of moving here; now is the time. Asbury Park... where the only constant is change!