For the month of November, there continued to be activity in the Bay Head and Mantoloking real estate market – there were a few closings, a number of new listings, and some properties have gone under contract since our last update. In spite of the inclement weather, new construction, renovation, and elevation of houses continues. Almost every day, I drive by a new project that I have not seen before. A bayfront property in Mantoloking (with a damaged home) sold for $3,000,000, and another bayfront home was recently torn down to make way for a new one. There are also a number of new homes going up along the beach, but there are still a number of vacant oceanfront lots available for sale.
As I type this, the Route 35 construction continues to snarl traffic in both towns. In Bay Head, the first block of Route 35 north of the Bay Head/Point Pleasant Beach border is closed, and will remain so for a few weeks. A detour is possible via Route 88, Bay Avenue, and Bridge Avenue.
In Mantoloking, Downer Avenue is closed to through traffic, and Route 35 traffic between Downer and Herbert is reduced to one lane. Simultaneously, the county is repairing the east end of the Mantoloking Bridge, and at times, bridge traffic is reduced to one lane. This Route 35 blockage is likely to continue to the end of the year, but hopefully the bridge work will be of shorter duration.
If you have any questions about real estate, or other goings on in either town, please let us know.
The post Bay Head and Mantoloking Market Report – November 2014 appeared first on Suzie & Ed, Diane Turton, Realtors.