August Market Update

A seller I was talking with last week put it plainly. "Everyone keeps telling me there are more houses on the market now. Does that mean I'm in trouble?"

It's a fair question, and it's the one we're hearing most right now from people getting ready to list in Ocean and Monmouth counties. So let's sit down with the actual August numbers and talk through what they mean, not just what they say.

More Choices For Buyers

Yes, there are more homes for sale than there were a year ago. Active listings in August were up almost 6 percent compared to last August. If you're a buyer, that's real news. You finally have more to look at than you did the last couple of summers.

Prices Haven't Budged

But more listings has not meant lower prices. The median sale price in August was $610,000, up from $599,000 a year ago. And homes are still closing right around what sellers are asking, on average about 100.8 percent of list price. That number tells you buyers aren't finding much room to negotiate a home down once it's priced correctly.

Homes Are Still Moving Fast

What has shifted, a little, is how long it takes. Homes are still moving quickly. The median time on market in August was 20 days, actually a touch faster than the same month last year. But look at the full year so far and the pace has eased slightly, with average days on market up from 37 to 38 and median days up from 20 to 21. Nothing dramatic. More like the market catching its breath after a few very fast years.

Sellers Are Pricing Smarter This Year

One more number stands out. The median list price on active homes is actually down about 3 percent from last August, even though the median sale price is up. Sellers, as a group, are asking a little more realistically than they were a year ago. And that's probably part of why homes are still closing near full price. A house priced to today's market moves. A house priced to what the neighbor got eighteen months ago sits, and then has to chase the market down instead of meeting it.

The Full Year Tells The Same Story

Zoom out to the full year and the story holds together. Inventory is up about 3 percent year to date. Closed sales are down about 3 percent over the same stretch. So fewer deals are getting done, but the ones that do close are closing for more money. That's not a market falling apart. That's a market where pricing discipline separates the homes that sell fast from the ones that don't.

Our Take

We look at this as a market finding its footing, not one turning over. A few years ago almost anything sold in days no matter what it was priced at. That's not where we are anymore, and honestly, that's healthier for everyone. Buyers get a little room to think before they act. Sellers who price with their eyes open still get strong offers and fast closings.

Where we see people get hurt is when they price off the market from a year ago instead of the market that exists right now. The data backs this up plainly. Homes priced correctly are still selling at essentially full ask in about three weeks. Homes that aren't priced correctly are the ones adding to that growing inventory number, sitting, and eventually having to come down anyway. If you're thinking about listing this fall, the conversation worth having isn't "will my house sell." It's "what does correctly priced actually look like on my street right now."

More homes on the market isn't a warning sign. It's information. The sellers doing well right now are the ones using it, not worrying about it.

Source: Monmouth Ocean MLS Market Summary, residential, August 2026 vs. August 2025 and year to date.