The most convincing way to see what's happened to Spring Lake values isn't a chart. It's the same house, sold twice, decades apart.
Our MLS has tracked Spring Lake closings since 1995. Of the 1,900 sales since then, 47 homes sold in the 1990s and again in 2020 or later. Here are 20 of them, identified by street.
Rebuilt or substantially renovated between sales
| Street | 1990s sale | Recent sale | Multiple |
|---|---|---|---|
| South Blvd | $550,000 (1995) | $8,000,000 (2023) | 14.5x |
| Vroom Ave | $553,000 (1998) | $7,800,000 (2025) | 14.1x |
| Ocean Ave | $845,000 (1997) | $11,000,000 (2022) | 13.0x |
| Salem Ave | $295,000 (1996) | $3,500,000 (2022) | 11.9x |
| Atlantic Ave | $540,000 (1998) | $5,199,000 (2021) | 9.6x |
| Essex Ave | $720,000 (1999) | $6,132,500 (2025) | 8.5x |
| St Clair Ave | $720,000 (1998) | $6,050,000 (2022) | 8.4x |
| Pitney Ave | $409,000 (1998) | $3,050,000 (2022) | 7.5x |
| South Blvd | $1,000,000 (1999) | $6,300,000 (2024) | 6.3x |
In each of these, a new home was built or the house was largely redone. The 1990s buyer paid mostly for the lot, and it turned out to be a very good lot.
The same house, not rebuilt
These homes kept their original year built. Some were updated inside, but the house itself is the one that sold in the 1990s.
| Street | 1990s sale | Recent sale | Multiple |
|---|---|---|---|
| Ludlow Ave | $158,000 (1995) | $1,875,000 (2025) | 11.9x |
| Pitney Ave | $342,500 (1996) | $3,800,000 (2025) | 11.1x |
| Passaic Ave | $560,000 (1997) | $5,750,000 (2022) | 10.3x |
| Newark Ave | $475,000 (1995) | $4,500,000 (2024) | 9.5x |
| Brighton Ave | $379,000 (1998) | $3,382,405 (2025) | 8.9x |
| Third Ave | $570,000 (1998) | $4,900,000 (2025) | 8.6x |
| Second Ave | $599,000 (1997) | $4,750,000 (2024) | 7.9x |
| Vroom Ave | $575,000 (1995) | $4,500,000 (2024) | 7.8x |
| Washington Ave | $882,500 (1995) | $6,650,000 (2022) | 7.5x |
| Madison Ave | $625,000 (1996) | $4,700,000 (2022) | 7.5x |
| Jersey Ave | $339,000 (1997) | $1,912,500 (2022) | 5.6x |
The Ludlow Avenue home is my favorite: a 2-bedroom bought for $158,000 in 1995, the second-lowest sale in the MLS that year. It sold five times over 30 years, most recently for $1.875 million.
What the full group shows
Across all 47 homes that sold in the 1990s and again since 2020:
- Median increase: 7.5x the 1990s price
- Median annual appreciation: about 8% per year, compounded, over 25 to 30 years
- Even homes that were never rebuilt had a median increase of about 7.5x
A home bought for $400,000 in 1997 and never touched would typically sell for around $3 million today.
Why this matters if you've owned for decades
Many long-time Spring Lake owners underestimate their home's value by a wide margin, because the last number they remember is what they paid. If you bought before 2005, you may also want to understand the capital gains picture before you sell, since the gain can be far larger than the federal exclusion. Your accountant can help there. I can help with the first question: what would it actually sell for today?
Request a free valuation, and I'll compare your home to the recent sales that match it, not the town average.
Source: Monmouth County MLS via flexMLS, closed single-family sales in Spring Lake borough, January 1995 through August 25, 2026. Homes matched by street address; house numbers omitted for privacy. "Rebuilt" means the MLS shows new construction or a year built of 2010 or later at resale. Off-market sales are not included. Deemed reliable but not guaranteed.