Several Mantoloking homes sold for more than $1 million in February, including a $7.85 million waterfront estate, highlighting strong demand in one of New Jersey’s most exclusive coastal communities.
Mantoloking, NJ – Several high-value home sales closed in Mantoloking over the past month, reinforcing the borough’s reputation as one of the most expensive places to live in New Jersey. Real estate transactions ranged from just over $500,000 for a condominium unit to nearly $8 million for a luxury waterfront property.
The small Ocean County community, located on a narrow barrier island between the Atlantic Ocean and Barnegat Bay, remains one of the state’s most exclusive housing markets. Limited inventory and large waterfront lots continue to drive prices into the multi-million-dollar range.
Key Points
• Four Mantoloking homes recently sold, with prices ranging from $515,000 to $7.85 million
• A waterfront property on Barnegat Lane recorded the highest sale at nearly $8 million
• Limited inventory and ocean-to-bay properties continue to drive premium pricing
Multi-million dollar sales highlight strong demand
The highest sale occurred at 982 Barnegat Lane, where a five-bedroom waterfront home sold for $7,850,000 earlier this month. The 3,623-square-foot property was originally built in 1983 and spent 38 days on the market before closing.
Another notable transaction took place at 920 East Avenue, where a six-bedroom home built in 1928 sold for $4,500,000. The property moved quickly, closing after just 12 days on the market.
A smaller property at 105 East Kupper Drive also topped the million-dollar mark, selling for $1,200,000. The two-bedroom home sold 26 percent above its listing price after only six days on the market.
Limited inventory fuels Mantoloking prices
Mantoloking remains one of the most exclusive residential communities along the Jersey Shore, with fewer than 500 year-round residents. The borough stretches just over two miles along a narrow strip of land separating the Atlantic Ocean from Barnegat Bay.
Many homes in Mantoloking were rebuilt after Hurricane Sandy, replacing older cottages with larger, modern oceanfront estates designed to withstand coastal storms. As a result, new construction and luxury rebuilds have pushed property values significantly higher.
Even smaller properties can command premium prices in the borough. A one-bedroom condominium at 438 Highway 35 North sold for $515,000 after spending 160 days on the market.