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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Ocean Township is a buyer's market

Buyer's
Market

Difference Since February 2023

At the same time last year, Ocean Township was a Neutral Market.

Key Takeaway

Ocean Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

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

+$7,833(+1.1%)

Key Takeaway

Homes in Ocean Township have sold for 1.1% more than they did a year ago.

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

# BEDSFeb 2023Feb 2024CHANGE
1 $379.4K$410K
+8.0%
2 $496K$550K
+10.9%
3 $700K$685K
-2.1%
4 $800K$862K
+7.8%
5+ $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
+1.1%
West Long Branch
-3.7%

Housing Supply in Ocean Township, NJ

How many homes are available in Ocean Township, NJ?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
1051050.0%

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

# BEDSJan 2024Feb 2024CHANGE
1 11
0.0%
2 2019
-5.0%
3 2622
-15.4%
4 3435
+2.9%
5+ 2428
+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 2024Feb 2024CHANGE
167-56.3%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Ocean Township, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.

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 2023Feb 2024CHANGE
85 Days47 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

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Ocean Township has remained consistent over time.

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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 28 Days Ago

Newest Listings in Ocean Township, NJ

Nearby Markets to Ocean Township, NJ

What housing markets are near Ocean Township, NJ?