Is Ocean 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, Ocean Township has remained a Seller's Market.
Key Takeaway
Ocean Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Ocean Township, NJ
How much do homes in Ocean Township, NJ cost?
Median Sold Price
$545,000
$297/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Ocean Township have sold for 9.2% more than they did a year ago.
Summary: The median home sold price in Ocean Township was $545,000 in April 2024, up 9.2% from last year, and the median price per square foot was $297.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $210K | $240K | +14.3% |
| 2 Bedrooms | $449.9K | $472K | +4.9% |
| 3 Bedrooms | $483.7K | $565K | +16.8% |
| 4 Bedrooms | $640K | $695K | +8.6% |
| 5+ Bedrooms | $885K | $925K | +4.5% |
Summary: Ocean Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.3%, 2 bedroom homes increased by 4.9%, 3 bedroom homes increased by 16.8%, 4 bedroom homes increased by 8.6%, and 5+ bedroom homes increased by 4.5%.
Median Sold Price Compared To Nearby Cities
| Waretown | $370K | $463.7K | +25.4% |
| Lacey Township | $395.8K | $450K | +13.7% |
| Ocean Township | $499K | $545K | +9.2% |
| Barnegat Township | $426.9K | $439.9K | +3.1% |
Housing Supply in Ocean Township, NJ
How many homes are available in Ocean Township, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 120 | 130 | +8.3% |
Summary: The Ocean Township real estate market had 130 homes for sale in April 2024, a 8.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 40 | 34 | -15.0% |
| 3 Bedrooms | 44 | 54 | +22.7% |
| 4 Bedrooms | 19 | 28 | +47.4% |
| 5+ Bedrooms | 15 | 13 | -13.3% |
Summary: The Ocean Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 15%, 3 bedroom homes increased by 22.7%, 4 bedroom homes increased by 47.4%, and 5+ bedroom homes decreased by 13.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 24 | 33 | +37.5% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Ocean Township, expect to pay close to the asking price. 39.4% of homes here sold near the asking price last month.
Summary: A total of 33 homes were sold or pending in Ocean Township in April 2024, up by 37.5% month-over-month. Of the 33 sold homes, 27% were sold under asking, 39% were sold at asking, and 33% were sold over asking.
Days on Market for Ocean Township, NJ
How long does it take to sell a home in Ocean Township, NJ?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 31 Days | 48 Days | +54.7% |
Summary: Homes in Ocean Township had an average of 48 days on market in Apr 2024, up by 54.7% compared to last year.
Breakdown of Home Sale Times
23 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Ocean Township are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 33 homes were sold in Ocean Township; 70% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 24% 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.
Disclaimer: The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the South Jersey Shore Regional (SJSR) MLS. Real estate listings held by brokerage firms are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. © 2024 SJSR MLS. All rights reserved.