Is Forked River, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Forked River has remained a Seller's Market.
Housing Prices in Forked River, NJ
How much do homes in Forked River, NJ cost?
Median Sold Price
$441,000
$284/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Forked River was $441,000 in May 2024, up 14.2% from last year, and the median price per square foot was $284.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $220K | - | N/A |
2 Bedrooms | $310.5K | $340K | +9.5% |
3 Bedrooms | $375K | $427.5K | +14.0% |
4 Bedrooms | $542.1K | $560K | +3.3% |
5+ Bedrooms | $607.5K | $749.9K | +23.4% |
Summary: Forked River housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 9.5%, 3 bedroom homes increased by 14%, 4 bedroom homes increased by 3.3%, and 5+ bedroom homes increased by 23.4%.
Median Sold Price Compared To Nearby Cities
Waretown | $375K | $465.1K | +24.0% |
Lanoka Harbor | $460K | $530K | +15.2% |
Forked River | $386.2K | $441K | +14.2% |
Lacey Township | $398.6K | $450K | +12.9% |
Berkeley Township | $315K | $336.5K | +6.8% |
Housing Supply in Forked River, NJ
How many homes are available in Forked River, NJ?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
117 | 127 | +8.5% |
Summary: The Forked River real estate market had 127 homes for sale in May 2024, a 8.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 18 | 22 | +22.2% |
3 Bedrooms | 47 | 47 | 0.0% |
4 Bedrooms | 37 | 41 | +10.8% |
5+ Bedrooms | 15 | 17 | +13.3% |
Summary: The Forked River housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 22.2%, 3 bedroom homes remained the same, 4 bedroom homes increased by 10.8%, and 5+ bedroom homes increased by 13.3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
25 | 34 | +36.0% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
19 Homes Were Sold
Over Asking
Summary: A total of 34 homes were sold or pending in Forked River in May 2024, up by 36.0% month-over-month. Of the 34 sold homes, 35% were sold under asking, 9% were sold at asking, and 56% were sold over asking.
Days on Market for Forked River, NJ
How long does it take to sell a home in Forked River, NJ?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
26 Days | 34 Days | +32.5% |
Summary: Homes in Forked River had an average of 34 days on market in May 2024, up by 32.5% compared to last year.
Breakdown of Home Sale Times
25 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During May 2024, 34 homes were sold in Forked River; 74% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.