Is Red Bank, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Red Bank is a seller's market

Buyer's
Market

Difference Since November 2023

Since last year, Red Bank has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Red Bank, NJ

How much do homes in Red Bank, NJ cost?

Median Sold Price

$562,500

$379/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$57,500(+11.4%)

Key Takeaway

Homes in Red Bank have sold for 11.4% more than they did a year ago.

Summary: The median home sold price in Red Bank was $562,500 in November 2024, up 11.4% from last year, and the median price per square foot was $379.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $287.5K$300K
+4.3%
2 $378K$455K
+20.4%
3 $581K$681.7K
+17.3%
4 $768K$860K
+12.0%
5+ $850K$944.5K
+11.1%

Summary: Red Bank housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.3%, 2 bedroom homes increased by 20.4%, 3 bedroom homes increased by 17.3%, 4 bedroom homes increased by 12%, and 5+ bedroom homes increased by 11.1%.

Median Sold Price Compared To Nearby Cities

Little Silver
+16.1%
Fair Haven
+13.7%
Red Bank
+11.4%
Middletown Township
+10.9%
Shrewsbury
+6.7%

Housing Supply in Red Bank, NJ

How many homes are available in Red Bank, NJ?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
109101-7.3%

Summary: The Red Bank real estate market had 101 homes for sale in November 2024, a 7.3% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 117
-36.4%
2 3941
+5.1%
3 3131
0.0%
4 2015
-25.0%
5+ 87
-12.5%

Summary: The Red Bank housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 36.4%, 2 bedroom homes increased by 5.1%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 25%, and 5+ bedroom homes decreased by 12.5%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
2719-29.6%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

12 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Red Bank, you could pay more than the asking price. 63.2% of homes here sold above asking price last month.

Summary: A total of 19 homes were sold or pending in Red Bank in November 2024, down by 29.6% month-over-month. Of the 19 sold homes, 16% were sold under asking, 21% were sold at asking, and 63% were sold over asking.

Days on Market for Red Bank, NJ

How long does it take to sell a home in Red Bank, NJ?

Average Sale Time

Nov 2023Nov 2024CHANGE
17 Days25 Days+41.1%

Summary: Homes in Red Bank had an average of 25 days on market in Nov 2024, up by 41.1% compared to last year.

Breakdown of Home Sale Times

13 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 19 homes were sold in Red Bank; 68% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 0% 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 2 Days Ago

Newest Listings in Red Bank, NJ

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