Is Monroe Township, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Monroe Township was a Seller's Market.
Key Takeaway
Monroe Township is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Monroe Township, NJ
How much do homes in Monroe Township, NJ cost?
Median Sold Price
$320,000
$194/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Monroe Township have sold for 9.3% more than they did a year ago.
Summary: The median home sold price in Monroe Township was $320,000 in May 2024, up 9.3% from last year, and the median price per square foot was $194.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $84K | $100K | +19.0% |
| 2 Bedrooms | $258.3K | $285K | +10.3% |
| 3 Bedrooms | $275K | $300K | +9.1% |
| 4 Bedrooms | $410K | $387.5K | -5.5% |
| 5+ Bedrooms | $545K | $550K | +0.9% |
Summary: Monroe Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19%, 2 bedroom homes increased by 10.3%, 3 bedroom homes increased by 9.1%, 4 bedroom homes decreased by 5.5%, and 5+ bedroom homes increased by 0.9%.
Median Sold Price Compared To Nearby Cities
| Monroe Township | $292.8K | $320K | +9.3% |
| Williamstown | $288.9K | $315K | +9.0% |
| Winslow Township | $290K | $309.9K | +6.9% |
| Sicklerville | $309.9K | $318.8K | +2.8% |
| Franklinville | $318.5K | $311K | -2.4% |
Housing Supply in Monroe Township, NJ
How many homes are available in Monroe Township, NJ?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 133 | 125 | -6.0% |
Summary: The Monroe Township real estate market had 125 homes for sale in May 2024, a 6.0% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 26 | 20 | -23.1% |
| 3 Bedrooms | 56 | 50 | -10.7% |
| 4 Bedrooms | 40 | 47 | +17.5% |
| 5+ Bedrooms | 10 | 7 | -30.0% |
Summary: The Monroe Township 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 decreased by 23.1%, 3 bedroom homes decreased by 10.7%, 4 bedroom homes increased by 17.5%, and 5+ bedroom homes decreased by 30%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 30 | 20 | -33.3% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Monroe Township, you could pay more than the asking price. 65% of homes here sold above asking price last month.
Summary: A total of 20 homes were sold or pending in Monroe Township in May 2024, down by 33.3% month-over-month. Of the 20 sold homes, 25% were sold under asking, 10% were sold at asking, and 65% were sold over asking.
Days on Market for Monroe Township, NJ
How long does it take to sell a home in Monroe Township, NJ?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 26 Days | 30 Days | +16.2% |
Summary: Homes in Monroe Township had an average of 30 days on market in May 2024, up by 16.2% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Monroe Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 20 homes were sold in Monroe Township; 75% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Monmouth/Ocean MLS Monmouth County Association Board of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright © 2024 Monmouth/Ocean MLS Monmouth County Association Board of Realtors. All Rights Reserved.
Disclaimer: The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the South Jersey Shore Regional (SJSR) MLS. Real estate listings held by brokerage firms are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. © 2024 SJSR MLS. All rights reserved.