Is Manalapan 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, Manalapan Township has remained a Seller's Market.
Housing Prices in Manalapan Township, NJ
How much do homes in Manalapan Township, NJ cost?
Median Sold Price
$666,187
$301/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Manalapan Township was $666,187 in April 2024, up 3.5% from last year, and the median price per square foot was $301.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $196.2K | $207.5K | +5.7% |
2 Bedrooms | $324.9K | $343.5K | +5.7% |
3 Bedrooms | $575.9K | $625K | +8.5% |
4 Bedrooms | $745K | $763K | +2.4% |
5+ Bedrooms | $875K | $996.2K | +13.9% |
Summary: Manalapan Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.7%, 2 bedroom homes increased by 5.7%, 3 bedroom homes increased by 8.5%, 4 bedroom homes increased by 2.4%, and 5+ bedroom homes increased by 13.9%.
Median Sold Price Compared To Nearby Cities
Englishtown | $335K | $406K | +21.2% |
Freehold Township | $430.8K | $491.5K | +14.1% |
Monroe Township | $409.3K | $449.9K | +9.9% |
Manalapan Township | $643.4K | $666.1K | +3.5% |
Marlboro | $740.7K | $760K | +2.6% |
Housing Supply in Manalapan Township, NJ
How many homes are available in Manalapan Township, NJ?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
136 | 132 | -2.9% |
Summary: The Manalapan Township real estate market had 132 homes for sale in April 2024, a 2.9% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 7 | 5 | -28.6% |
2 Bedrooms | 39 | 40 | +2.6% |
3 Bedrooms | 29 | 30 | +3.4% |
4 Bedrooms | 38 | 36 | -5.3% |
5+ Bedrooms | 23 | 21 | -8.7% |
Summary: The Manalapan Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 28.6%, 2 bedroom homes increased by 2.6%, 3 bedroom homes increased by 3.4%, 4 bedroom homes decreased by 5.3%, and 5+ bedroom homes decreased by 8.7%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
31 | 33 | +6.5% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
18 Homes Were Sold
Over Asking
Summary: A total of 33 homes were sold or pending in Manalapan Township in April 2024, up by 6.5% month-over-month. Of the 33 sold homes, 36% were sold under asking, 9% were sold at asking, and 55% were sold over asking.
Days on Market for Manalapan Township, NJ
How long does it take to sell a home in Manalapan Township, NJ?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
22 Days | 28 Days | +23.4% |
Summary: Homes in Manalapan Township had an average of 28 days on market in Apr 2024, up by 23.4% compared to last year.
Breakdown of Home Sale Times
24 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 33 homes were sold in Manalapan Township; 73% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.