Is Monroe 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, Monroe Township has remained a Seller's Market.
Housing Prices in Monroe Township, NJ
How much do homes in Monroe Township, NJ cost?
Median Sold Price
$449,992
$268/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Monroe Township was $449,992 in April 2024, up 9.9% from last year, and the median price per square foot was $268.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $170K | $135K | -20.6% |
2 Bedrooms | $329.9K | $363.2K | +10.1% |
3 Bedrooms | $513K | $564.9K | +10.1% |
4 Bedrooms | $755K | $799.1K | +5.8% |
5+ Bedrooms | $850K | $1.1M | +29.4% |
Summary: Monroe Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 20.6%, 2 bedroom homes increased by 10.1%, 3 bedroom homes increased by 10.1%, 4 bedroom homes increased by 5.8%, and 5+ bedroom homes increased by 29.4%.
Median Sold Price Compared To Nearby Cities
Jamesburg | $365K | $415K | +13.7% |
Spotswood | $395K | $444.6K | +12.6% |
Old Bridge Township | $459K | $510K | +11.1% |
Monroe Township | $409.3K | $449.9K | +9.9% |
Housing Supply in Monroe Township, NJ
How many homes are available in Monroe Township, NJ?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
305 | 319 | +4.6% |
Summary: The Monroe Township real estate market had 319 homes for sale in April 2024, a 4.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 6 | 6 | 0.0% |
2 Bedrooms | 181 | 180 | -0.6% |
3 Bedrooms | 67 | 73 | +9.0% |
4 Bedrooms | 32 | 40 | +25.0% |
5+ Bedrooms | 19 | 20 | +5.3% |
Summary: The Monroe 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 decreased by 0.6%, 3 bedroom homes increased by 9%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 5.3%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
66 | 63 | -4.5% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
35 Homes Were Sold
Over Asking
Summary: A total of 63 homes were sold or pending in Monroe Township in April 2024, down by 4.5% month-over-month. Of the 63 sold homes, 30% were sold under asking, 14% were sold at asking, and 56% were sold over asking.
Days on Market for Monroe Township, NJ
How long does it take to sell a home in Monroe Township, NJ?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
40 Days | 41 Days | +1.1% |
Summary: Homes in Monroe Township had an average of 41 days on market in Apr 2024, up by 1.1% compared to last year.
Breakdown of Home Sale Times
36 Homes Were Sold
Under 30 Days
18 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Summary: During April 2024, 63 homes were sold in Monroe Township; 57% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.