Real Estate Market Update for 07701 (Red Bank, NJ)
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Welcome to March's Market Update,. Let's take a look at residential real-estate activity in your area during the month of March. The number of active listings was down 14% from one year earlier, and up 3% from the previous month. This recent increase reflected a larger selection of homes for buyers to choose from. As you can see, the median listing price for the month was just under 350-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was down 39%. This lower number of days may signal a positive trend in the local inventory-turnover rate. The median sale price was just under 190-thousand dollars. The number of units sold decreased 33% year-over-year, and increased 40% month-over-month. Despite a slight annual decrease, this upward monthly sales trend indicates positive momentum. Thanks for watching. We hope you use this information to make smart, informed decisions in your upcoming real-estate transactions. Feel free to contact us for more information or further assistance.
Map Information for 07701 (Red Bank, NJ)
Area Information for 07701 (Red Bank, NJ)
  • Population: 24,152
  • Median Age: 39.71 yr
  • Median Commute Time: 22.44 mins
  • Educational Climate*: 4
  • Sales Tax: 6.909%
  • Population Density: 2,604/sq mi
  • Population Change Since 2000: 2.04%
  • Closest Airport: Newark Liberty International
  • Closest College: Monmouth University
  • Closest Jr. College: Brookdale Community College
  • Median Household Income: $79,042
  • Annual Residential Turnover: 10.85%
  • Median Years in Residence: 4.24 yr
  • Median Home Sales Price: $270,500
  • Closest Major Sports Team: New York Rangers
  • Change Avg. Household Income Since 2000: 32%
* Scale from 1-5** Index where 100 is the national average
Demographic Data for 07701 (Red Bank, NJ)
Median Age: 39.71 Married: 34% Number of Households: 9,703 Households with Children: 2,761
Community:
    • Occupancy Types
      • 3599 Vacant
      • 8822 Owned
      • 12512 Rented
    • Transportation to Work
      • 43% Drive
      • 47% Public Transportation
      • 8% Walk / Bike / Other
      • 8% Work at Home
    National Index Comparisons:
    (100 National Average)
      • Population By Sex(%)
        • 50% Male
        • 50% Female
      • White/Blue Collar Jobs
        • 50% White Collar
        • 50% Blue Collar
      School Data for 07701 (Red Bank, NJ)

      School Name Distance Type Grades GreatSchools Rating Parent Rating
      First Discoveries Kng & Pre-sch 0.1 mi Private PRESCHOOL-K 0 0
      River Plaza Elementary School 0.6 mi Public K-5 4 4
      Fairview Elementary School 0.8 mi Public K-5 3 4
      The Red Bank Cs 1.0 mi Public K-8 0 0
      St. James Elementary School 1.1 mi Catholic PRESCHOOL-8 0 4
      Red Bank Catholic High School 1.1 mi Private 9-12 0 4
      West Side Christian Academy 1.3 mi Private K-12 0 0
      Red Bank Primary School 1.3 mi Public PRESCHOOL-5 1 4
      Red Bank Middle School 1.3 mi Public 4-8 1 3
      West Side Christian Academy 1.4 mi Private - 0 0
      Tower Hill School 1.6 mi Private PRESCHOOL-K 0 5
      Goddard School For Early Childhood Development 2.1 mi Private PRESCHOOL-K 0 0
      Proximity to listed schools and their school district(s) does not guarantee enrollment eligibility. Please contact a local real estate professional or the local school district(s) for the most current information relating to schools in the area. Sources: GreatSchools.org and Onboard Informatics 2014
      Local Weather for 07701 (Red Bank, NJ)
        Community information and market data Powered by Onboard Informatics. Copyright ©2014 Onboard Informatics. Information is deemed reliable but not guaranteed. * Based on a 30-year fixed rate of 4.75% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.