Is Ocean 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, Ocean County has remained a Seller's Market.
Housing Prices in Ocean County, NJ
How much do homes in Ocean County, NJ cost?
Median Sold Price
$424,870
$257/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Ocean County was $424,870 in March 2024, up 6.2% from last year, and the median price per square foot was $257.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $147.2K | $139K | -5.6% |
2 Bedrooms | $280K | $299.9K | +7.1% |
3 Bedrooms | $425.1K | $464.2K | +9.2% |
4 Bedrooms | $600K | $610.2K | +1.7% |
5+ Bedrooms | $857.2K | $914.2K | +6.7% |
Summary: Ocean County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5.6%, 2 bedroom homes increased by 7.1%, 3 bedroom homes increased by 9.2%, 4 bedroom homes increased by 1.7%, and 5+ bedroom homes increased by 6.7%.
Median Sold Price Compared To Nearby Counties
Atlantic County | $300.5K | $336.5K | +12.0% |
Monmouth County | $575K | $624.7K | +8.6% |
Burlington County | $325.2K | $350.7K | +7.8% |
Ocean County | $399.9K | $424.8K | +6.2% |
Housing Supply in Ocean County, NJ
How many homes are available in Ocean County, NJ?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
3,651 | 3,780 | +3.5% |
Summary: The Ocean County real estate market had 3,780 homes for sale in March 2024, a 3.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 98 | 89 | -9.2% |
2 Bedrooms | 1,204 | 1,304 | +8.3% |
3 Bedrooms | 938 | 942 | 0.4% |
4 Bedrooms | 880 | 886 | +0.7% |
5+ Bedrooms | 531 | 559 | +5.3% |
Summary: The Ocean County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 9.2%, 2 bedroom homes increased by 8.3%, 3 bedroom homes increased by 0.4%, 4 bedroom homes increased by 0.7%, and 5+ bedroom homes increased by 5.3%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
600 | 676 | +12.7% |
Asking Price vs. Sold Price
339 Homes Were Sold
Under Asking
102 Homes Were Sold
At Asking
235 Homes Were Sold
Over Asking
Summary: A total of 676 homes were sold or pending in Ocean County in March 2024, up by 12.7% month-over-month. Of the 676 sold homes, 50% were sold under asking, 15% were sold at asking, and 35% were sold over asking.
Days on Market for Ocean County, NJ
How long does it take to sell a home in Ocean County, NJ?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
41 Days | 48 Days | +16.7% |
Summary: Homes in Ocean County had an average of 48 days on market in Mar 2024, up by 16.7% compared to last year.
Breakdown of Home Sale Times
371 Homes Were Sold
Under 30 Days
178 Homes Were Sold
In 30 - 90 Days
124 Homes Were Sold
Over 90 Days
Summary: During March 2024, 676 homes were sold in Ocean County; 55% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.