Is Mount Olive Township, 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, Mount Olive Township has remained a Seller's Market.
Key Takeaway
Mount Olive Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Mount Olive Township, NJ
How much do homes in Mount Olive Township, NJ cost?
Median Sold Price
$530,000
$226/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Mount Olive Township have sold for 6% more than they did a year ago.
Summary: The median home sold price in Mount Olive Township was $530,000 in April 2024, up 6% from last year, and the median price per square foot was $226.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $249K | - | N/A |
| 2 Bedrooms | $310K | $350K | +12.9% |
| 3 Bedrooms | $440K | $475K | +8.0% |
| 4 Bedrooms | $525.5K | $592.5K | +12.7% |
| 5+ Bedrooms | $735K | $605K | -17.7% |
Summary: Mount Olive Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 12.9%, 3 bedroom homes increased by 8%, 4 bedroom homes increased by 12.7%, and 5+ bedroom homes decreased by 17.7%.
Median Sold Price Compared To Nearby Cities
| Allamuchy Township | $384.9K | $420K | +9.1% |
| Hackettstown | $399K | $435K | +9.0% |
| Mount Olive Township | $500K | $530K | +6.0% |
| Budd Lake | $482.5K | $488K | +1.1% |
Housing Supply in Mount Olive Township, NJ
How many homes are available in Mount Olive Township, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 59 | 77 | +30.5% |
Summary: The Mount Olive Township real estate market had 77 homes for sale in April 2024, a 30.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 4 | 0.0% |
| 3 Bedrooms | 19 | 28 | +47.4% |
| 4 Bedrooms | 31 | 37 | +19.4% |
| 5+ Bedrooms | 5 | 8 | +60.0% |
Summary: The Mount Olive Township 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 remained the same, 3 bedroom homes increased by 47.4%, 4 bedroom homes increased by 19.4%, and 5+ bedroom homes increased by 60%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 11 | 18 | +63.6% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mount Olive Township, you could pay more than the asking price. 83.3% of homes here sold above asking price last month.
Summary: A total of 18 homes were sold or pending in Mount Olive Township in April 2024, up by 63.6% month-over-month. Of the 18 sold homes, 17% were sold under asking, 0% were sold at asking, and 83% were sold over asking.
Days on Market for Mount Olive Township, NJ
We’re sorry, we don't have information for this market at the moment
The data relating to real estate for sale on this web-site comes in part from the Internet Listing Display database of the CENTRAL JERSEY MULTIPLE LISTING SYSTEM. Real estate listings held by brokerage firms other than this site-owner are marked with the ILD logo. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM does not warrant the accuracy, quality, reliability, suitability, completeness, usefulness or effectiveness of any information provided. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify properties the consumer may be interested in purchasing or renting. Copyright 2024, CENTRAL JERSEY MULTIPLE LISTING SYSTEM. All Rights Reserved. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM retains all rights, title and interest in and to its trademarks, service marks and copyrighted material.