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How to Sell a Property Faster
by: Anthony DiMaio
How New Jersey Brokers Can Sell Homes Quickly in Today's Market
In New Jersey's competitive real estate market, the challenge of affordability has made buyers increasingly selective when searching for the right homes on the market. Even with the shortage of inventory, there are a number of listings that are sitting on the market longer than well-priced and well-marketed homes, especially the high-demand Ocean and Monmouth counties. In July, homes in these counties that were priced strategically and marketed effectively went under contract in an average of 30 days—slightly slower than last year — but still faster than pre-pandemic rates.
Power Pricing
For real estate brokers in Ocean and Monmouth counties, getting the price right is crucial, especially when prices are plateauing. In both counties, the market dynamics have shifted, with more buyers actively looking for affordable options that offer value for money. Clearly there is the temptation to price the property based on 2023 demand-supply levels. One example of a poorly priced home is one that was priced at $1 million back in April 2024, and in August had to be reduced three times to $849,000 – with a Zillow estimate of $809,000.
Homes that are priced too high for the local market conditions may linger, while those priced competitively can attract multiple offers and sell quickly.
Ocean County, with popular areas like Toms River and Point Pleasant, and Monmouth County, with high-demand towns like Asbury Park and Red Bank, are seeing increased interest, particularly in well-priced properties. By conducting a thorough analysis of recent comparable sales in the area, brokers can help sellers set a price that will generate interest without leaving money on the table.
One of the reasons certain Monmouth County niches are unexpectedly strong is the impending opening of the new Netflix studio in the old Fort Monmouth location.
Other Factors: Modern Features and Enhanced Marketing Tools
Zillow research has shown that modern features, which signal a home is either brand new or recently remodeled, contribute significantly to higher sale premiums. In Ocean and Monmouth counties, buyers are particularly drawn to homes that offer updated kitchens, smart home technology, and energy-efficient appliances. Even minor improvements that give a home a “new construction” look can make a significant difference in how quickly it sells.
Additionally, leveraging advanced marketing tools can enhance a property’s appeal. Utilizing 3D home tours, virtual floor plans, and high-quality professional photography can help a listing stand out in the crowded market. These tools not only provide a realistic and immersive experience for potential buyers but also allow them to envision themselves living in the home, increasing the likelihood of a quicker sale.
Correct Market Analysis – A Must!
One of the most important steps prospective sellers can take is to assess whether they are in a buyer’s or seller’s market. Ocean and Monmouth counties have seen fluctuating market conditions, with certain areas strongly favoring sellers, while others may be more balanced or even tip towards buyers.
Real estate brokers in these areas should work closely with sellers to evaluate the current market conditions. By analyzing local data, including the number of active listings, average days on the market, and the ratio of list price to sale price, brokers can develop a tailored strategy that aligns with the market's dynamics. This approach will help sellers set realistic expectations and position their property for a successful sale.
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