Is Ocean County, 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 County has remained a Seller's Market.
Housing Prices in Ocean County, NJ
How much do homes in Ocean County, NJ cost?
Median Sold Price
$429,998
$261/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Ocean County was $429,998 in May 2024, up 7.6% from last year, and the median price per square foot was $261.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $147K | $140.2K | -4.6% |
2 Bedrooms | $279.9K | $304.7K | +8.9% |
3 Bedrooms | $429.5K | $473.5K | +10.3% |
4 Bedrooms | $599.9K | $624.9K | +4.2% |
5+ Bedrooms | $852.6K | $950K | +11.4% |
Summary: Ocean County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.6%, 2 bedroom homes increased by 8.9%, 3 bedroom homes increased by 10.3%, 4 bedroom homes increased by 4.2%, and 5+ bedroom homes increased by 11.4%.
Median Sold Price Compared To Nearby Counties
Atlantic County | $301.7K | $347.5K | +15.2% |
Burlington County | $325K | $359.9K | +10.8% |
Monmouth County | $580.5K | $632.9K | +9.0% |
Ocean County | $399.6K | $429.9K | +7.6% |
Housing Supply in Ocean County, NJ
How many homes are available in Ocean County, NJ?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
3,623 | 3,708 | +2.3% |
Summary: The Ocean County real estate market had 3,708 homes for sale in May 2024, a 2.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 83 | 80 | -3.6% |
2 Bedrooms | 1,340 | 1,306 | -2.5% |
3 Bedrooms | 945 | 964 | +2.0% |
4 Bedrooms | 803 | 858 | +6.8% |
5+ Bedrooms | 452 | 500 | +10.6% |
Summary: The Ocean County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 3.6%, 2 bedroom homes decreased by 2.5%, 3 bedroom homes increased by 2%, 4 bedroom homes increased by 6.8%, and 5+ bedroom homes increased by 10.6%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
777 | 838 | +7.9% |
Asking Price vs. Sold Price
361 Homes Were Sold
Under Asking
146 Homes Were Sold
At Asking
331 Homes Were Sold
Over Asking
Summary: A total of 838 homes were sold or pending in Ocean County in May 2024, up by 7.9% month-over-month. Of the 838 sold homes, 43% were sold under asking, 17% were sold at asking, and 39% were sold over asking.
Days on Market for Ocean County, NJ
How long does it take to sell a home in Ocean County, NJ?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
36 Days | 38 Days | +5.3% |
Summary: Homes in Ocean County had an average of 38 days on market in May 2024, up by 5.3% compared to last year.
Breakdown of Home Sale Times
544 Homes Were Sold
Under 30 Days
196 Homes Were Sold
In 30 - 90 Days
95 Homes Were Sold
Over 90 Days
Summary: During May 2024, 838 homes were sold in Ocean County; 65% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.