Is Ocean Township, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
At the same time last year, Ocean Township was a Neutral Market.
Housing Prices in Ocean Township, NJ
How much do homes in Ocean Township, NJ cost?
Median Sold Price
$707,500
$362/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Ocean Township was $707,500 in February 2024, up 1.1% from last year, and the median price per square foot was $362.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $379.4K | $410K | +8.0% |
2 Bedrooms | $496K | $550K | +10.9% |
3 Bedrooms | $700K | $685K | -2.1% |
4 Bedrooms | $800K | $862K | +7.8% |
5+ Bedrooms | $1.2M | $1.1M | -9.7% |
Summary: Ocean Township housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8%, 2 bedroom homes increased by 10.9%, 3 bedroom homes decreased by 2.1%, 4 bedroom homes increased by 7.8%, and 5+ bedroom homes decreased by 9.7%.
Median Sold Price Compared To Nearby Cities
Ocean Township | $699.6K | $707.5K | +1.1% |
West Long Branch | $810K | $780K | -3.7% |
Housing Supply in Ocean Township, NJ
How many homes are available in Ocean Township, NJ?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
105 | 105 | 0.0% |
Summary: The Ocean Township real estate market had 105 homes for sale in February 2024, the same as January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 20 | 19 | -5.0% |
3 Bedrooms | 26 | 22 | -15.4% |
4 Bedrooms | 34 | 35 | +2.9% |
5+ Bedrooms | 24 | 28 | +16.7% |
Summary: The Ocean Township housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 5%, 3 bedroom homes decreased by 15.4%, 4 bedroom homes increased by 2.9%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
16 | 7 | -56.3% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 7 homes were sold or pending in Ocean Township in February 2024, down by 56.3% month-over-month. Of the 7 sold homes, 57% were sold under asking, 14% were sold at asking, and 29% were sold over asking.
Days on Market for Ocean Township, NJ
How long does it take to sell a home in Ocean Township, NJ?
Average Sale Time
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
85 Days | 47 Days | -44.6% |
Summary: Homes in Ocean Township had an average of 47 days on market in Feb 2024, down by 44.6% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During February 2024, 7 homes were sold in Ocean Township; 29% of homes were sold within 30 days, 57% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.