Is Ocean Gate, 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, Ocean Gate has remained a Seller's Market.
Key Takeaway
Ocean Gate is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Ocean Gate, NJ
How much do homes in Ocean Gate, NJ cost?
Median Sold Price
$425,000
$308/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Ocean Gate have sold for 18.1% more than they did a year ago.
Summary: The median home sold price in Ocean Gate was $425,000 in May 2024, up 18.1% from last year, and the median price per square foot was $308.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $227.3K | N/A |
| 2 Bedrooms | $323K | $313K | -3.1% |
| 3 Bedrooms | $333.7K | $417.5K | +25.1% |
| 4 Bedrooms | $425K | $505K | +18.8% |
| 5+ Bedrooms | $427.5K | $465K | +8.8% |
Summary: Ocean Gate 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 decreased by 3.1%, 3 bedroom homes increased by 25.1%, 4 bedroom homes increased by 18.8%, and 5+ bedroom homes increased by 8.8%.
Median Sold Price Compared To Nearby Cities
| Bayville | $424K | $503.7K | +18.8% |
| Ocean Gate | $360K | $425K | +18.1% |
| Berkeley Township | $315K | $336.5K | +6.8% |
Housing Supply in Ocean Gate, NJ
How many homes are available in Ocean Gate, NJ?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 10 | 8 | -20.0% |
Summary: The Ocean Gate real estate market had 8 homes for sale in May 2024, a 20.0% 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 | 2 | 1 | -50.0% |
| 3 Bedrooms | 7 | 7 | 0.0% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The Ocean Gate 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 50%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 1 | 2 | +100.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Ocean Gate, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 2 homes were sold or pending in Ocean Gate in May 2024, up by 100.0% month-over-month. Of the 2 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Ocean Gate, NJ
How long does it take to sell a home in Ocean Gate, NJ?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 36 Days | 10 Days | -72.8% |
Summary: Homes in Ocean Gate had an average of 10 days on market in May 2024, down by 72.8% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Ocean Gate are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 2 homes were sold in Ocean Gate; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% 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.