Is Manalapan Township, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Manalapan Township is a seller's market

Buyer's
Market

Difference Since November 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

$690,000

$310/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$42,122(+6.5%)

Key Takeaway

Homes in Manalapan Township have sold for 6.5% more than they did a year ago.

Summary: The median home sold price in Manalapan Township was $690,000 in November 2024, up 6.5% from last year, and the median price per square foot was $310.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $203K$221.4K
+9.1%
2 $340K$325.2K
-4.3%
3 $610K$660K
+8.2%
4 $755K$810K
+7.3%
5+ $990K$999.9K
+1.0%

Summary: Manalapan Township housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.1%, 2 bedroom homes decreased by 4.3%, 3 bedroom homes increased by 8.2%, 4 bedroom homes increased by 7.3%, and 5+ bedroom homes increased by 1%.

Median Sold Price Compared To Nearby Cities

Englishtown
+22.7%
Monroe Township
+14.4%
Freehold Township
+8.8%
Manalapan Township
+6.5%
Marlboro
+3.0%

Housing Supply in Manalapan Township, NJ

How many homes are available in Manalapan Township, NJ?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
176136-22.7%

Summary: The Manalapan Township real estate market had 136 homes for sale in November 2024, a 22.7% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 35
+66.7%
2 4439
-11.4%
3 4536
-20.0%
4 4736
-23.4%
5+ 3720
-45.9%

Summary: The Manalapan Township housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 66.7%, 2 bedroom homes decreased by 11.4%, 3 bedroom homes decreased by 20%, 4 bedroom homes decreased by 23.4%, and 5+ bedroom homes decreased by 45.9%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
4732-31.9%

Asking Price vs. Sold Price

12 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

16 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Manalapan Township, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Summary: A total of 32 homes were sold or pending in Manalapan Township in November 2024, down by 31.9% month-over-month. Of the 32 sold homes, 38% were sold under asking, 13% were sold at asking, and 50% 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

Nov 2023Nov 2024CHANGE
20 Days46 Days+129.4%

Summary: Homes in Manalapan Township had an average of 46 days on market in Nov 2024, up by 129.4% compared to last year.

Breakdown of Home Sale Times

16 Homes Were Sold
Under 30 Days

12 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 32 homes were sold in Manalapan Township; 50% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 13% 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 9 Days Ago

Newest Listings in Manalapan Township, NJ

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