Is Monmouth County, 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 County has remained a Seller's Market.
Housing Prices in Monmouth County, NJ
How much do homes in Monmouth County, NJ cost?
Median Sold Price
$627,915
$329/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Monmouth County was $627,915 in April 2024, up 8.3% from last year, and the median price per square foot was $329.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $262K | $305.5K | +16.6% |
2 Bedrooms | $384.8K | $415.2K | +7.9% |
3 Bedrooms | $525.7K | $569.3K | +8.3% |
4 Bedrooms | $715.3K | $760.1K | +6.3% |
5+ Bedrooms | $980.1K | $1.1M | +14.6% |
Summary: Monmouth County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.6%, 2 bedroom homes increased by 7.9%, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 6.3%, and 5+ bedroom homes increased by 14.6%.
Median Sold Price Compared To Nearby Counties
Middlesex County | $440K | $485.4K | +10.3% |
Monmouth County | $580K | $627.9K | +8.3% |
Mercer County | $379.2K | $409.5K | +8.0% |
Ocean County | $399.8K | $426.1K | +6.6% |
Housing Supply in Monmouth County, NJ
How many homes are available in Monmouth County, NJ?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
2,367 | 2,473 | +4.5% |
Summary: The Monmouth County real estate market had 2,473 homes for sale in April 2024, a 4.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 149 | 148 | -0.7% |
2 Bedrooms | 515 | 536 | +4.1% |
3 Bedrooms | 660 | 673 | +2.0% |
4 Bedrooms | 630 | 686 | +8.9% |
5+ Bedrooms | 413 | 430 | +4.1% |
Summary: The Monmouth County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 0.7%, 2 bedroom homes increased by 4.1%, 3 bedroom homes increased by 2%, 4 bedroom homes increased by 8.9%, and 5+ bedroom homes increased by 4.1%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
477 | 560 | +17.4% |
Asking Price vs. Sold Price
200 Homes Were Sold
Under Asking
87 Homes Were Sold
At Asking
273 Homes Were Sold
Over Asking
Summary: A total of 560 homes were sold or pending in Monmouth County in April 2024, up by 17.4% month-over-month. Of the 560 sold homes, 36% were sold under asking, 16% were sold at asking, and 49% were sold over asking.
Days on Market for Monmouth County, NJ
How long does it take to sell a home in Monmouth County, NJ?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
32 Days | 35 Days | +8.4% |
Summary: Homes in Monmouth County had an average of 35 days on market in Apr 2024, up by 8.4% compared to last year.
Breakdown of Home Sale Times
382 Homes Were Sold
Under 30 Days
105 Homes Were Sold
In 30 - 90 Days
69 Homes Were Sold
Over 90 Days
Summary: During April 2024, 560 homes were sold in Monmouth County; 68% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.