Is Long Branch, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Long Branch is a buyer's market

Buyer's
Market

Difference Since February 2023

At the same time last year, Long Branch was a Seller's Market.

Key Takeaway

Long Branch is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Long Branch, NJ

How much do homes in Long Branch, NJ cost?

Median Sold Price

$745,000

$431/sqft

Based on all homes sold in the last 12 months.

The Median Sold Price hasn't changed since February 2023.

Key Takeaway

The sold price of homes in Long Branch has remained the same since last year.

Summary: The median home sold price in Long Branch was $745,000 in February 2024, the same as last year, and the median price per square foot was $431.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $402.5K$375K
-6.8%
2 $740K$659.5K
-10.9%
3 $687.5K$706.2K
+2.7%
4 $870.6K$997.4K
+14.6%
5+ $1.1M$1.3M
+17.2%

Summary: Long Branch housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.8%, 2 bedroom homes decreased by 10.9%, 3 bedroom homes increased by 2.7%, 4 bedroom homes increased by 14.6%, and 5+ bedroom homes increased by 17.2%.

Median Sold Price Compared To Nearby Cities

Oceanport
+8.5%
Long Branch
0.0%
West Long Branch
-3.7%

Housing Supply in Long Branch, NJ

How many homes are available in Long Branch, NJ?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
149192+28.9%

Summary: The Long Branch real estate market had 192 homes for sale in February 2024, a 28.9% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 1926
+36.8%
2 3649
+36.1%
3 3136
+16.1%
4 3141
+32.3%
5+ 3240
+25.0%

Summary: The Long Branch housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 36.8%, 2 bedroom homes increased by 36.1%, 3 bedroom homes increased by 16.1%, 4 bedroom homes increased by 32.3%, and 5+ bedroom homes increased by 25%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
817+112.5%

Asking Price vs. Sold Price

12 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Long Branch, you may be able to get a good deal. 70.6% of homes here sold below asking price last month.

Summary: A total of 17 homes were sold or pending in Long Branch in February 2024, up by 112.5% month-over-month. Of the 17 sold homes, 71% were sold under asking, 0% were sold at asking, and 29% 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

Feb 2023Feb 2024CHANGE
34 Days67 Days+98.6%

Summary: Homes in Long Branch had an average of 67 days on market in Feb 2024, up by 98.6% compared to last year.

Breakdown of Home Sale Times

9 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Long Branch are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 17 homes were sold in Long Branch; 53% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 27 Days Ago

Newest Listings in Long Branch, NJ

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