Is Spring Lake Heights, 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, Spring Lake Heights was a Buyer's Market.
Key Takeaway
Spring Lake Heights is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Spring Lake Heights, NJ
How much do homes in Spring Lake Heights, NJ cost?
Median Sold Price
$775,000
$456/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Spring Lake Heights have sold for 9.8% more than they did a year ago.
Summary: The median home sold price in Spring Lake Heights was $775,000 in March 2024, up 9.8% from last year, and the median price per square foot was $456.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $422.5K | $340K | -19.5% |
| 2 Bedrooms | $599.7K | $657.5K | +9.6% |
| 3 Bedrooms | $715K | $821.2K | +14.9% |
| 4 Bedrooms | $913.5K | $1.3M | +49.7% |
| 5+ Bedrooms | $1.3M | $1.9M | +41.2% |
Summary: Spring Lake Heights housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 19.5%, 2 bedroom homes increased by 9.6%, 3 bedroom homes increased by 14.9%, 4 bedroom homes increased by 49.7%, and 5+ bedroom homes increased by 41.2%.
Median Sold Price Compared To Nearby Cities
| Sea Girt | $1.5M | $2.3M | +50.7% |
| Spring Lake | $889.5K | $1.0M | +20.0% |
| Spring Lake Heights | $705.7K | $775K | +9.8% |
| Lake Como | $620K | $674.9K | +8.9% |
| Wall Township | $717.7K | $755K | +5.2% |
Housing Supply in Spring Lake Heights, NJ
How many homes are available in Spring Lake Heights, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 20 | 18 | -10.0% |
Summary: The Spring Lake Heights real estate market had 18 homes for sale in March 2024, a 10.0% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 7 | 6 | -14.3% |
| 3 Bedrooms | 2 | 5 | +150.0% |
| 4 Bedrooms | 6 | 4 | -33.3% |
| 5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The Spring Lake Heights housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 14.3%, 3 bedroom homes increased by 150%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 5 | 7 | +40.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Spring Lake Heights, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in Spring Lake Heights in March 2024, up by 40.0% month-over-month. Of the 7 sold homes, 43% were sold under asking, 29% were sold at asking, and 29% were sold over asking.
Days on Market for Spring Lake Heights, NJ
How long does it take to sell a home in Spring Lake Heights, NJ?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 57 Days | 36 Days | -35.6% |
Summary: Homes in Spring Lake Heights had an average of 36 days on market in Mar 2024, down by 35.6% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Spring Lake Heights has remained consistent over time.
Summary: During March 2024, 7 homes were sold in Spring Lake Heights; 43% of homes were sold within 30 days, 57% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Monmouth/Ocean MLS Monmouth County Association Board of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright © 2024 Monmouth/Ocean MLS Monmouth County Association Board of Realtors. All Rights Reserved.