Is Ocean Township, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Ocean Township was a Seller's Market.
Housing Prices in Ocean Township, NJ
How much do homes in Ocean Township, NJ cost?
Median Sold Price
$545,000
$292/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Ocean Township was $545,000 in March 2024, up 7.9% from last year, and the median price per square foot was $292.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $243K | $210K | -13.6% |
2 Bedrooms | $449.9K | $472K | +4.9% |
3 Bedrooms | $513K | $560K | +9.2% |
4 Bedrooms | $645K | $689K | +6.8% |
5+ Bedrooms | $885K | $915K | +3.4% |
Summary: Ocean Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 13.6%, 2 bedroom homes increased by 4.9%, 3 bedroom homes increased by 9.2%, 4 bedroom homes increased by 6.8%, and 5+ bedroom homes increased by 3.4%.
Median Sold Price Compared To Nearby Cities
Waretown | $375K | $460K | +22.7% |
Lacey Township | $399.7K | $450K | +12.6% |
Ocean Township | $505K | $545K | +7.9% |
Barnegat Township | $430K | $435.9K | +1.4% |
Housing Supply in Ocean Township, NJ
How many homes are available in Ocean Township, NJ?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
111 | 128 | +15.3% |
Summary: The Ocean Township real estate market had 128 homes for sale in March 2024, a 15.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 2 | +100.0% |
2 Bedrooms | 35 | 44 | +25.7% |
3 Bedrooms | 44 | 46 | +4.5% |
4 Bedrooms | 14 | 18 | +28.6% |
5+ Bedrooms | 18 | 18 | 0.0% |
Summary: The Ocean Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 25.7%, 3 bedroom homes increased by 4.5%, 4 bedroom homes increased by 28.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
17 | 21 | +23.5% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 21 homes were sold or pending in Ocean Township in March 2024, up by 23.5% month-over-month. Of the 21 sold homes, 52% were sold under asking, 5% were sold at asking, and 43% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
43 Days | 41 Days | -5.0% |
Summary: Homes in Ocean Township had an average of 41 days on market in Mar 2024, down by 5% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During March 2024, 21 homes were sold in Ocean Township; 48% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.