Is Red Bank, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Red Bank has remained a Seller's Market.
Housing Prices in Red Bank, NJ
How much do homes in Red Bank, NJ cost?
Median Sold Price
$525,000
$354/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Red Bank was $525,000 in March 2024, up 6.9% from last year, and the median price per square foot was $354.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $280K | $300K | +7.1% |
2 Bedrooms | $370K | $410K | +10.8% |
3 Bedrooms | $585K | $600.7K | +2.7% |
4 Bedrooms | $743.5K | $814.9K | +9.6% |
5+ Bedrooms | $845K | $970K | +14.8% |
Summary: Red Bank housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.1%, 2 bedroom homes increased by 10.8%, 3 bedroom homes increased by 2.7%, 4 bedroom homes increased by 9.6%, and 5+ bedroom homes increased by 14.8%.
Median Sold Price Compared To Nearby Cities
Shrewsbury | $670K | $835K | +24.6% |
Fair Haven | $1.1M | $1.3M | +17.8% |
Red Bank | $491.2K | $525K | +6.9% |
Middletown Township | $561.6K | $583.2K | +3.8% |
Little Silver | $950K | $861K | -9.4% |
Housing Supply in Red Bank, NJ
How many homes are available in Red Bank, NJ?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
62 | 61 | -1.6% |
Summary: The Red Bank real estate market had 61 homes for sale in March 2024, a 1.6% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 6 | +50.0% |
2 Bedrooms | 31 | 29 | -6.5% |
3 Bedrooms | 15 | 14 | -6.7% |
4 Bedrooms | 10 | 11 | +10.0% |
5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Red Bank housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes decreased by 6.5%, 3 bedroom homes decreased by 6.7%, 4 bedroom homes increased by 10%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
16 | 19 | +18.8% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 19 homes were sold or pending in Red Bank in March 2024, up by 18.8% month-over-month. Of the 19 sold homes, 37% were sold under asking, 26% were sold at asking, and 37% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
36 Days | 29 Days | -19.3% |
Summary: Homes in Red Bank had an average of 29 days on market in Mar 2024, down by 19.3% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 19 homes were sold in Red Bank; 68% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.