Massive increases: Monmouth County, NJ homes for sale that doubled in value
These home values just keep going up and up. Have you taken a look around Zillow lately?
Before we dive in, here's a reminder of how I got these results. First, the 2022 value of the home is the price it's being sold for. I got a little feedback that the Zestimate section isn't the most reliable, so this time I looked at the last price the home was sold for, with the farthest year going back to 2019.
In order to calculate the percent of the home value increase, I used a formula from Premier Atlanta Real Estate's website, which was to subtract the old price from the new price, and then divide that number by the old price. Once I got that number, I moved the decimal point over 2 places to the right to get my percent.
Hooray for math!
Just look at this increase - this Spring Lake home increased by more than half the original amount in just under 3 years. And you know that's not the craziest one I found.
If you're buying a home right now, let me just tell you I feel for you, especially after taking a look at these home value increases over the past few months.
Take a deep breath, and try not to lose your mind as you look at the most shocking home value increases in Monmouth County!