Is Monroe 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, Monroe Township has remained a Seller's Market.
Housing Prices in Monroe Township, NJ
How much do homes in Monroe Township, NJ cost?
Median Sold Price
$439,728
$266/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Monroe Township was $439,728 in March 2024, up 7.8% from last year, and the median price per square foot was $266.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $170K | $143.1K | -15.8% |
2 Bedrooms | $330K | $360K | +9.1% |
3 Bedrooms | $515K | $550K | +6.8% |
4 Bedrooms | $755K | $799K | +5.8% |
5+ Bedrooms | $850K | $1.1M | +29.4% |
Summary: Monroe Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 15.8%, 2 bedroom homes increased by 9.1%, 3 bedroom homes increased by 6.8%, 4 bedroom homes increased by 5.8%, and 5+ bedroom homes increased by 29.4%.
Median Sold Price Compared To Nearby Cities
Spotswood | $390K | $445K | +14.1% |
Jamesburg | $365K | $410K | +12.3% |
Old Bridge Township | $460.3K | $501.3K | +8.9% |
Monroe Township | $408K | $439.7K | +7.8% |
Housing Supply in Monroe Township, NJ
How many homes are available in Monroe Township, NJ?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
267 | 315 | +18.0% |
Summary: The Monroe Township real estate market had 315 homes for sale in March 2024, a 18.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 5 | 5 | 0.0% |
2 Bedrooms | 159 | 187 | +17.6% |
3 Bedrooms | 50 | 67 | +34.0% |
4 Bedrooms | 34 | 36 | +5.9% |
5+ Bedrooms | 19 | 20 | +5.3% |
Summary: The Monroe Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 17.6%, 3 bedroom homes increased by 34%, 4 bedroom homes increased by 5.9%, and 5+ bedroom homes increased by 5.3%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
44 | 66 | +50.0% |
Asking Price vs. Sold Price
28 Homes Were Sold
Under Asking
14 Homes Were Sold
At Asking
24 Homes Were Sold
Over Asking
Summary: A total of 66 homes were sold or pending in Monroe Township in March 2024, up by 50.0% month-over-month. Of the 66 sold homes, 42% were sold under asking, 21% were sold at asking, and 36% were sold over asking.
Days on Market for Monroe Township, NJ
How long does it take to sell a home in Monroe Township, NJ?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
47 Days | 47 Days | 0.3% |
Summary: Homes in Monroe Township had an average of 47 days on market in Mar 2024, up by 0.3% compared to last year.
Breakdown of Home Sale Times
35 Homes Were Sold
Under 30 Days
20 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Summary: During March 2024, 66 homes were sold in Monroe Township; 53% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.