In 2025, buyers in Monmouth and Ocean County are facing several unique challenges compared to just a few years ago:

 

1. Higher Interest Rates

6-7% is the new normal. Mortgage rates have remained elevated compared to the ultra-low rates of 2020–2021. This has significantly impacted affordability.

 

2. Low Inventory & Seller Reluctance

Many homeowners who locked in 2-3% mortgage rates during the pandemic are hesitant to sell and take on a higher-rate mortgage. Some have built up enough equity to pay cash for their next home and those people make up a lot of the sellers in today’s market. Low inventory has led to a lack of options and, at times, fierce competition—especially for move-in-ready homes in desirable coastal towns.

 

3. High Home Prices & Market Stagnation

While prices have stabilized somewhat, they remain high due to low inventory. Some sellers have unrealistic expectations from the post-pandemic boom, creating a valuation gap between buyers and sellers that can slow down transactions.

 

4. Increased Demand for Coastal & Suburban Living

The work-from-home trend remains strong, and many buyers still seek the lifestyle Monmouth and Ocean County offer—beaches, proximity to NYC & Philly, and good schools. This keeps demand high, especially in waterfront communities and towns with easy transit access.

 

With these factors in mind, how can prospective buyers successfully pin down a property that suits their needs in a neighborhood they find desirable?  Here are 3 key traits I have found in successful home buyers:

 

1- Being open-minded- Explore new neighborhoods, consider a townhome or condo vs. a single family home, consider waiving appraisal contingency on a purchase offer,  or even allowing for use and occupancy (U&O) to a seller after closing, to help ease their move. These are all examples of ways buyers can show flexibility to a seller to help best position their offer for consideration, especially in a multiple offer scenario.

 

2- Patience- Inventory is still limited. If the right opportunity does not present itself immediately, be patient. I repeatedly tell clients that they should be excited on closing day and not settling for less than that. That doesn’t mean buyers shouldn’t have realistic expectations, but part of my job is having those tough conversations, when required, to reign in what may be wishful thinking.

 

3- Flexibility- Many homeowners have visions of buying a turn-key home and just unpacking on day one. In most circumstances, this is just not realistic. Some of the best opportunities, in any market, are properties that do not show well, either due to the lack of a strong listing agent, poor curb appeal, bad listing photography, or a number of other reasons. I advise clients to be on the lookout for listings with poor staging, iPhone photos (instead of professional photography), bad paint choices and ugly, outdated home decor. Many buyers will not even give consideration to listings like this, which cuts into the buyer pool  and making it less competitive. Simply painting a home’s interior and cleaning up the yard, for example, can transform a property. Don’t let poor marketing prevent you from at least considering a home that you might not fall in love with over the listing photos.

 

My experience has shown me that reasonable , level-headed buyers can successfully find and purchase a home in 2025. Reach out today to discuss whether buying or selling is a good option for you and your family.

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