Is Monmouth County, 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, Monmouth County has remained a Seller's Market.
Housing Prices in Monmouth County, NJ
How much do homes in Monmouth County, NJ cost?
Median Sold Price
$624,724
$325/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Monmouth County was $624,724 in March 2024, up 8.6% from last year, and the median price per square foot was $325.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $263K | $300K | +14.1% |
2 Bedrooms | $382.5K | $414.6K | +8.4% |
3 Bedrooms | $524.9K | $569.5K | +8.5% |
4 Bedrooms | $709.3K | $756.1K | +6.6% |
5+ Bedrooms | $975.1K | $1.1M | +15.2% |
Summary: Monmouth County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.1%, 2 bedroom homes increased by 8.4%, 3 bedroom homes increased by 8.5%, 4 bedroom homes increased by 6.6%, and 5+ bedroom homes increased by 15.2%.
Median Sold Price Compared To Nearby Counties
Middlesex County | $440K | $479.9K | +9.1% |
Monmouth County | $575K | $624.7K | +8.6% |
Ocean County | $399.9K | $424.8K | +6.2% |
Mercer County | $379.6K | $402.5K | +6.0% |
Housing Supply in Monmouth County, NJ
How many homes are available in Monmouth County, NJ?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
2,100 | 2,243 | +6.8% |
Summary: The Monmouth County real estate market had 2,243 homes for sale in March 2024, a 6.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 117 | 154 | +31.6% |
2 Bedrooms | 422 | 483 | +14.5% |
3 Bedrooms | 600 | 617 | +2.8% |
4 Bedrooms | 589 | 598 | +1.5% |
5+ Bedrooms | 372 | 391 | +5.1% |
Summary: The Monmouth County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 31.6%, 2 bedroom homes increased by 14.5%, 3 bedroom homes increased by 2.8%, 4 bedroom homes increased by 1.5%, and 5+ bedroom homes increased by 5.1%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
363 | 450 | +24.0% |
Asking Price vs. Sold Price
178 Homes Were Sold
Under Asking
56 Homes Were Sold
At Asking
216 Homes Were Sold
Over Asking
Summary: A total of 450 homes were sold or pending in Monmouth County in March 2024, up by 24.0% month-over-month. Of the 450 sold homes, 40% were sold under asking, 12% were sold at asking, and 48% were sold over asking.
Days on Market for Monmouth County, NJ
How long does it take to sell a home in Monmouth County, NJ?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
39 Days | 37 Days | -5.0% |
Summary: Homes in Monmouth County had an average of 37 days on market in Mar 2024, down by 5% compared to last year.
Breakdown of Home Sale Times
292 Homes Were Sold
Under 30 Days
106 Homes Were Sold
In 30 - 90 Days
50 Homes Were Sold
Over 90 Days
Summary: During March 2024, 450 homes were sold in Monmouth County; 65% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.