Is Mount Olive Township, 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, Mount Olive Township has remained a Seller's Market.
Key Takeaway
Mount Olive Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Mount Olive Township, NJ
How much do homes in Mount Olive Township, NJ cost?
Median Sold Price
$535,000
$226/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Mount Olive Township have sold for 7% more than they did a year ago.
Summary: The median home sold price in Mount Olive Township was $535,000 in May 2024, up 7% from last year, and the median price per square foot was $226.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $249K | - | N/A |
| 2 Bedrooms | $310K | $347.5K | +12.1% |
| 3 Bedrooms | $440K | $480K | +9.1% |
| 4 Bedrooms | $525.5K | $599.9K | +14.2% |
| 5+ Bedrooms | $630K | $710K | +12.7% |
Summary: Mount Olive Township 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 12.1%, 3 bedroom homes increased by 9.1%, 4 bedroom homes increased by 14.2%, and 5+ bedroom homes increased by 12.7%.
Median Sold Price Compared To Nearby Cities
| Hackettstown | $400K | $436.6K | +9.2% |
| Allamuchy Township | $375K | $407.5K | +8.7% |
| Mount Olive Township | $500K | $535K | +7.0% |
| Budd Lake | $466.5K | $497.5K | +6.6% |
Housing Supply in Mount Olive Township, NJ
How many homes are available in Mount Olive Township, NJ?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 71 | 79 | +11.3% |
Summary: The Mount Olive Township real estate market had 79 homes for sale in May 2024, a 11.3% 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 | 4 | 8 | +100.0% |
| 3 Bedrooms | 24 | 24 | 0.0% |
| 4 Bedrooms | 36 | 40 | +11.1% |
| 5+ Bedrooms | 7 | 7 | 0.0% |
Summary: The Mount Olive 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 increased by 100%, 3 bedroom homes remained the same, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 21 | 17 | -19.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mount Olive Township, you could pay more than the asking price. 70.6% of homes here sold above asking price last month.
Summary: A total of 17 homes were sold or pending in Mount Olive Township in May 2024, down by 19.0% month-over-month. Of the 17 sold homes, 18% were sold under asking, 12% were sold at asking, and 71% were sold over asking.
Days on Market for Mount Olive Township, NJ
We’re sorry, we don't have information for this market at the moment
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