Is Manalapan Township, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Manalapan Township has remained a Seller's Market.
Key Takeaway
Manalapan Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Manalapan Township, NJ
How much do homes in Manalapan Township, NJ cost?
Median Sold Price
$665,000
$300/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Manalapan Township have sold for 3.8% more than they did a year ago.
Summary: The median home sold price in Manalapan Township was $665,000 in March 2024, up 3.8% from last year, and the median price per square foot was $300.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $186K | $207.5K | +11.6% |
| 2 Bedrooms | $317.5K | $340K | +7.1% |
| 3 Bedrooms | $575K | $616K | +7.1% |
| 4 Bedrooms | $745K | $767.5K | +3.0% |
| 5+ Bedrooms | $867.5K | $999K | +15.2% |
Summary: Manalapan Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.6%, 2 bedroom homes increased by 7.1%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 3%, and 5+ bedroom homes increased by 15.2%.
Median Sold Price Compared To Nearby Cities
| Freehold Township | $430K | $496.6K | +15.5% |
| Englishtown | $346K | $392.5K | +13.4% |
| Monroe Township | $408K | $439.7K | +7.8% |
| Manalapan Township | $640.4K | $665K | +3.8% |
| Marlboro | $740K | $760K | +2.7% |
Housing Supply in Manalapan Township, NJ
How many homes are available in Manalapan Township, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 112 | 123 | +9.8% |
Summary: The Manalapan Township real estate market had 123 homes for sale in March 2024, a 9.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 8 | +60.0% |
| 2 Bedrooms | 25 | 35 | +40.0% |
| 3 Bedrooms | 17 | 24 | +41.2% |
| 4 Bedrooms | 42 | 35 | -16.7% |
| 5+ Bedrooms | 23 | 21 | -8.7% |
Summary: The Manalapan Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 60%, 2 bedroom homes increased by 40%, 3 bedroom homes increased by 41.2%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes decreased by 8.7%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 16 | 30 | +87.5% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Manalapan Township, you may be able to get a good deal. 46.7% of homes here sold below asking price last month.
Summary: A total of 30 homes were sold or pending in Manalapan Township in March 2024, up by 87.5% month-over-month. Of the 30 sold homes, 47% were sold under asking, 13% were sold at asking, and 40% were sold over asking.
Days on Market for Manalapan Township, NJ
How long does it take to sell a home in Manalapan Township, NJ?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 35 Days | 51 Days | +42.1% |
Summary: Homes in Manalapan Township had an average of 51 days on market in Mar 2024, up by 42.1% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Manalapan Township are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 30 homes were sold in Manalapan Township; 40% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Monmouth/Ocean MLS Monmouth County Association Board of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright © 2024 Monmouth/Ocean MLS Monmouth County Association Board of Realtors. All Rights Reserved.
The data relating to real estate for sale on this web-site comes in part from the Internet Listing Display database of the CENTRAL JERSEY MULTIPLE LISTING SYSTEM. Real estate listings held by brokerage firms other than this site-owner are marked with the ILD logo. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM does not warrant the accuracy, quality, reliability, suitability, completeness, usefulness or effectiveness of any information provided. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify properties the consumer may be interested in purchasing or renting. Copyright 2024, CENTRAL JERSEY MULTIPLE LISTING SYSTEM. All Rights Reserved. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM retains all rights, title and interest in and to its trademarks, service marks and copyrighted material.