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 seller's market

Buyer's
Market

Difference Since November 2023

Since last year, Ocean Township has remained a Seller's Market.

Key Takeaway

Ocean Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Ocean Township, NJ

How much do homes in Ocean Township, NJ cost?

Median Sold Price

$560,000

$309/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$31,287(+5.9%)

Key Takeaway

Homes in Ocean Township have sold for 5.9% more than they did a year ago.

Summary: The median home sold price in Ocean Township was $560,000 in November 2024, up 5.9% from last year, and the median price per square foot was $309.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $226.5K$365K
+61.1%
2 $473.5K$492.5K
+4.0%
3 $535K$575K
+7.5%
4 $664K$760K
+14.5%
5+ $880K$920K
+4.5%

Summary: Ocean Township housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 61.1%, 2 bedroom homes increased by 4%, 3 bedroom homes increased by 7.5%, 4 bedroom homes increased by 14.5%, and 5+ bedroom homes increased by 4.5%.

Median Sold Price Compared To Nearby Cities

Barnegat Light
+7.6%
Lacey Township
+6.7%
Ocean Township
+5.9%
Barnegat Township
+2.8%
Waretown
+1.4%

Housing Supply in Ocean Township, NJ

How many homes are available in Ocean Township, NJ?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
121113-6.6%

Summary: The Ocean Township real estate market had 113 homes for sale in November 2024, a 6.6% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 21
-50.0%
2 3131
0.0%
3 4746
-2.1%
4 3025
-16.7%
5+ 1110
-9.1%

Summary: The Ocean Township housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 2.1%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes decreased by 9.1%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
2531+24.0%

Asking Price vs. Sold Price

17 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

7 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. 54.8% of homes here sold below asking price last month.

Summary: A total of 31 homes were sold or pending in Ocean Township in November 2024, up by 24.0% month-over-month. Of the 31 sold homes, 55% were sold under asking, 23% were sold at asking, and 23% 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

Nov 2023Nov 2024CHANGE
27 Days39 Days+43.6%

Summary: Homes in Ocean Township had an average of 39 days on market in Nov 2024, up by 43.6% compared to last year.

Breakdown of Home Sale Times

18 Homes Were Sold
Under 30 Days

10 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Ocean Township are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 31 homes were sold in Ocean Township; 58% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 10% 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 12 Days Ago

Newest Listings in Ocean Township, NJ

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