Is Morganville, 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, Morganville has remained a Seller's Market.
Housing Prices in Morganville, NJ
How much do homes in Morganville, NJ cost?
Median Sold Price
$760,000
$304/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Morganville was $760,000 in May 2024, up 6.9% from last year, and the median price per square foot was $304.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $361.2K | $415.5K | +15.0% |
3 Bedrooms | $530K | $506K | -4.5% |
4 Bedrooms | $732.5K | $785K | +7.2% |
5+ Bedrooms | $1.0M | $1.2M | +18.7% |
Summary: Morganville 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 15%, 3 bedroom homes decreased by 4.5%, 4 bedroom homes increased by 7.2%, and 5+ bedroom homes increased by 18.7%.
Median Sold Price Compared To Nearby Cities
Matawan | $451.5K | $507.7K | +12.4% |
Marlboro Township | $709.5K | $760K | +7.1% |
Morganville | $711K | $760K | +6.9% |
Holmdel Township | $855K | $900K | +5.3% |
Marlboro | $743.5K | $765K | +2.9% |
Housing Supply in Morganville, NJ
How many homes are available in Morganville, NJ?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
58 | 51 | -12.1% |
Summary: The Morganville real estate market had 51 homes for sale in May 2024, a 12.1% decrease 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 | 3 | 5 | +66.7% |
3 Bedrooms | 21 | 18 | -14.3% |
4 Bedrooms | 11 | 15 | +36.4% |
5+ Bedrooms | 23 | 13 | -43.5% |
Summary: The Morganville 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 66.7%, 3 bedroom homes decreased by 14.3%, 4 bedroom homes increased by 36.4%, and 5+ bedroom homes decreased by 43.5%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
18 | 11 | -38.9% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 11 homes were sold or pending in Morganville in May 2024, down by 38.9% month-over-month. Of the 11 sold homes, 18% were sold under asking, 0% were sold at asking, and 82% were sold over asking.
Days on Market for Morganville, NJ
How long does it take to sell a home in Morganville, NJ?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
26 Days | 51 Days | +95.2% |
Summary: Homes in Morganville had an average of 51 days on market in May 2024, up by 95.2% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During May 2024, 11 homes were sold in Morganville; 64% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 27% of homes were sold over 90 days.