Is Red Bank, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Red Bank has remained a Seller's Market.
Key Takeaway
Red Bank is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Red Bank, NJ
How much do homes in Red Bank, NJ cost?
Median Sold Price
$550,000
$368/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Red Bank have sold for 12.8% more than they did a year ago.
Summary: The median home sold price in Red Bank was $550,000 in May 2024, up 12.8% from last year, and the median price per square foot was $368.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $274K | $315K | +15.0% |
| 2 Bedrooms | $370K | $435K | +17.6% |
| 3 Bedrooms | $592.5K | $620K | +4.6% |
| 4 Bedrooms | $747.5K | $821.9K | +10.0% |
| 5+ Bedrooms | $860.2K | $1.2M | +39.5% |
Summary: Red Bank housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15%, 2 bedroom homes increased by 17.6%, 3 bedroom homes increased by 4.6%, 4 bedroom homes increased by 10%, and 5+ bedroom homes increased by 39.5%.
Median Sold Price Compared To Nearby Cities
| Shrewsbury | $677.5K | $895K | +32.1% |
| Red Bank | $487.5K | $550K | +12.8% |
| Fair Haven | $1.1M | $1.2M | +8.6% |
| Middletown Township | $561.9K | $590.6K | +5.1% |
Housing Supply in Red Bank, NJ
How many homes are available in Red Bank, NJ?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 85 | 94 | +10.6% |
Summary: The Red Bank real estate market had 94 homes for sale in May 2024, a 10.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 10 | 10 | 0.0% |
| 2 Bedrooms | 40 | 40 | 0.0% |
| 3 Bedrooms | 21 | 23 | +9.5% |
| 4 Bedrooms | 13 | 19 | +46.2% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Red Bank housing inventory by bedroom type for May 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 9.5%, 4 bedroom homes increased by 46.2%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 23 | 26 | +13.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
18 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Red Bank, you could pay more than the asking price. 69.2% of homes here sold above asking price last month.
Summary: A total of 26 homes were sold or pending in Red Bank in May 2024, up by 13.0% month-over-month. Of the 26 sold homes, 23% were sold under asking, 8% were sold at asking, and 69% were sold over asking.
Days on Market for Red Bank, NJ
How long does it take to sell a home in Red Bank, NJ?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 43 Days | 19 Days | -54.7% |
Summary: Homes in Red Bank had an average of 19 days on market in May 2024, down by 54.7% compared to last year.
Breakdown of Home Sale Times
22 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Red Bank are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 26 homes were sold in Red Bank; 85% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 4% 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.
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.
Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement.