Is Long Branch, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Long Branch was a Seller's Market.
Housing Prices in Long Branch, NJ
How much do homes in Long Branch, NJ cost?
Median Sold Price
$760,000
$445/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Long Branch was $760,000 in May 2024, up 2% from last year, and the median price per square foot was $445.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $565K | $370K | -34.5% |
2 Bedrooms | $742.5K | $677K | -8.8% |
3 Bedrooms | $680K | $739K | +8.7% |
4 Bedrooms | $825K | $1.0M | +30.3% |
5+ Bedrooms | $1.3M | $1.5M | +17.2% |
Summary: Long Branch housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 34.5%, 2 bedroom homes decreased by 8.8%, 3 bedroom homes increased by 8.7%, 4 bedroom homes increased by 30.3%, and 5+ bedroom homes increased by 17.2%.
Median Sold Price Compared To Nearby Cities
Monmouth Beach | $830K | $860K | +3.6% |
Long Branch | $745K | $760K | +2.0% |
Oceanport | $782.5K | $750K | -4.2% |
West Long Branch | $815K | $780K | -4.3% |
Housing Supply in Long Branch, NJ
How many homes are available in Long Branch, NJ?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
211 | 209 | -0.9% |
Summary: The Long Branch real estate market had 209 homes for sale in May 2024, a 0.9% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 29 | 25 | -13.8% |
2 Bedrooms | 58 | 60 | +3.4% |
3 Bedrooms | 49 | 44 | -10.2% |
4 Bedrooms | 37 | 44 | +18.9% |
5+ Bedrooms | 38 | 36 | -5.3% |
Summary: The Long Branch housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 13.8%, 2 bedroom homes increased by 3.4%, 3 bedroom homes decreased by 10.2%, 4 bedroom homes increased by 18.9%, and 5+ bedroom homes decreased by 5.3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
26 | 23 | -11.5% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 23 homes were sold or pending in Long Branch in May 2024, down by 11.5% month-over-month. Of the 23 sold homes, 61% were sold under asking, 30% were sold at asking, and 9% were sold over asking.
Days on Market for Long Branch, NJ
How long does it take to sell a home in Long Branch, NJ?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
19 Days | 60 Days | +208.4% |
Summary: Homes in Long Branch had an average of 60 days on market in May 2024, up by 208.4% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During May 2024, 23 homes were sold in Long Branch; 52% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.