What are the median home prices in Monmouth County?
Monmouth Median Home Price
First, let’s make sure we understand what the median price is.
Is it the average sale price? Many people think so, however, that’s an incorrect answer. In fact, the median sale price is the point where half of the homes sold were priced above, and half of the homes sold were priced below. And, the average sale price rarely equals the median, as it could be higher or lower.
According to data reflecting sales in December 2019 in Monmouth County, the median sale price was $378,000.
Data from nationwide shows that the median sale price in the same period was $257,600
The Highest Median Prices
Interested in the highest median sale prices in the country? Four of the top five were in California.
San Francisco County’s median price was $1,048,166. San Mateo County came in at $1,021,667. Marin County’s median price was $1,009,308. Next was Nantucket County in Massachusetts, which had the median price of $983,597. Rounding out the top five was Santa Clara County in California at $922,511.
A little closer to home, the highest median price in New Jersey was Bergen County, where the median price was $467,200. At the other end of the spectrum was Cumberland County where the median price was $161,937.