Is Ocean 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, Ocean Township has remained a Seller's Market.
Housing Prices in Ocean Township, NJ
How much do homes in Ocean Township, NJ cost?
Median Sold Price
$697,500
$364/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Ocean Township was $697,500 in May 2024, down 0.4% from last year, and the median price per square foot was $364.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $384.5K | $365K | -5.1% |
2 Bedrooms | $505K | $535K | +5.9% |
3 Bedrooms | $700K | $656K | -6.3% |
4 Bedrooms | $790K | $900K | +13.9% |
5+ Bedrooms | $1.1M | $1.1M | -2.9% |
Summary: Ocean Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5.1%, 2 bedroom homes increased by 5.9%, 3 bedroom homes decreased by 6.3%, 4 bedroom homes increased by 13.9%, and 5+ bedroom homes decreased by 2.9%.
Median Sold Price Compared To Nearby Cities
Ocean Township | $700K | $697.5K | -0.4% |
West Long Branch | $815K | $780K | -4.3% |
Allenhurst | $1.6M | $1.0M | -36.1% |
Housing Supply in Ocean Township, NJ
How many homes are available in Ocean Township, NJ?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
145 | 152 | +4.8% |
Summary: The Ocean Township real estate market had 152 homes for sale in May 2024, a 4.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 2 | -33.3% |
2 Bedrooms | 27 | 31 | +14.8% |
3 Bedrooms | 38 | 41 | +7.9% |
4 Bedrooms | 43 | 40 | -7.0% |
5+ Bedrooms | 34 | 38 | +11.8% |
Summary: The Ocean Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 14.8%, 3 bedroom homes increased by 7.9%, 4 bedroom homes decreased by 7%, and 5+ bedroom homes increased by 11.8%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
22 | 31 | +40.9% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Summary: A total of 31 homes were sold or pending in Ocean Township in May 2024, up by 40.9% month-over-month. Of the 31 sold homes, 48% were sold under asking, 6% were sold at asking, and 45% were sold over asking.
Days on Market for Ocean Township, NJ
How long does it take to sell a home in Ocean Township, NJ?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
21 Days | 41 Days | +92.6% |
Summary: Homes in Ocean Township had an average of 41 days on market in May 2024, up by 92.6% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During May 2024, 31 homes were sold in Ocean Township; 61% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 16% of homes were sold over 90 days.