Home Prices Adjust, But Activity Rises
The median home price in Highlands came in at $599,000, a noticeable decrease from last year. While the drop appears significant, it often reflects the types of homes sold rather than a true decline in overall property values.
However, activity increased. Thirteen homes sold in October, up roughly 44% year-over-year. Buyers remain active, and well-priced homes continue to attract interest.
Homes Taking Longer to Sell
The typical Highlands property stayed on the market for 49 days, more than double last year’s average. This shift gives buyers more breathing room compared to the fast-paced environment of recent years.
Still, desirable listings, updated homes, well-located condos, and properties priced strategically, often move more quickly than the broader average.
Sellers Still Have an Advantage on Strong Listings
Even with longer days on market, sellers aren’t losing ground. Homes sold for 102% of the list price on average, showing that competitive offers are still common when a property is priced and presented well.
Proper preparation remains the key to maximizing returns.
What’s Driving the Change?
Several factors influenced October’s numbers:
- Inventory Mix: Fewer higher-end properties sold this month, reducing the median price.
- Buyer Strategy: Higher interest rates make buyers more cautious and selective.
- Seasonal Trends: Fall naturally slows activity as families settle into routines.
- Consistent Local Demand: Highlands remains attractive for its coastal living, community feel, and ferry access to NYC.
What This Means for Sellers
If you’re planning to list:
- Pricing correctly from the start is critical.
- Small upgrades, staging, and strong photography can significantly improve your final sale price.
- Expect more days on market than in the fast-moving years of 2020–2023.
What This Means for Buyers
If you’re in the market:
- You have more time for comparisons and negotiations.
- Fewer bidding wars, though high-quality listings still draw attention.
- Highlands offers strong long-term value thanks to its waterfront lifestyle and ongoing town improvements.
Final Takeaway
The Highlands real estate market is moderating in pace but stays competitive for well-positioned homes. Prices appear softer, but demand remains steady. Both buyers and sellers can find opportunities as we move toward 2026.
If you’re considering buying or selling, I’m here to help interpret what these trends mean for your specific situation.
Contact
Dean Cramer
Realtor®, Weichert Realtors – Rumson
HelloHighlandsNJ.com
Email: dean@hellohighlandsnj.com
Cell: 732-687-0159