Is Monmouth Junction, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Monmouth Junction has remained a Seller's Market.
Housing Prices in Monmouth Junction, NJ
How much do homes in Monmouth Junction, NJ cost?
Median Sold Price
$500,125
$300/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Monmouth Junction was $500,125 in April 2024, up 6.2% from last year, and the median price per square foot was $300.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $215K | $266.5K | +24.0% |
2 Bedrooms | $300K | $377.5K | +25.8% |
3 Bedrooms | $457K | $550K | +20.4% |
4 Bedrooms | $740.5K | $778K | +5.1% |
5+ Bedrooms | $750K | $880K | +17.3% |
Summary: Monmouth Junction housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 24%, 2 bedroom homes increased by 25.8%, 3 bedroom homes increased by 20.4%, 4 bedroom homes increased by 5.1%, and 5+ bedroom homes increased by 17.3%.
Median Sold Price Compared To Nearby Cities
Plainsboro | $555K | $630K | +13.5% |
Dayton | $500K | $550K | +10.0% |
South Brunswick Township | $530K | $579.1K | +9.3% |
Kendall Park | $575K | $615K | +7.0% |
Monmouth Junction | $471K | $500.1K | +6.2% |
Housing Supply in Monmouth Junction, NJ
How many homes are available in Monmouth Junction, NJ?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
55 | 52 | -5.5% |
Summary: The Monmouth Junction real estate market had 52 homes for sale in April 2024, a 5.5% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 16 | 14 | -12.5% |
3 Bedrooms | 18 | 18 | 0.0% |
4 Bedrooms | 13 | 11 | -15.4% |
5+ Bedrooms | 7 | 8 | +14.3% |
Summary: The Monmouth Junction housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 12.5%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 15.4%, and 5+ bedroom homes increased by 14.3%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
16 | 11 | -31.3% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 11 homes were sold or pending in Monmouth Junction in April 2024, down by 31.3% month-over-month. Of the 11 sold homes, 36% were sold under asking, 9% were sold at asking, and 55% were sold over asking.
Days on Market for Monmouth Junction, NJ
How long does it take to sell a home in Monmouth Junction, NJ?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
37 Days | 50 Days | +36.1% |
Summary: Homes in Monmouth Junction had an average of 50 days on market in Apr 2024, up by 36.1% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 11 homes were sold in Monmouth Junction; 36% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.