Is Manalapan Township, 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, 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
$650,000
$300/sqft
Based on all homes sold in the last 12 months.
The Median Sold Price hasn't changed since May 2023.
Summary: The median home sold price in Manalapan Township was $650,000 in May 2024, the same as last year, and the median price per square foot was $300.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $202.7K | $217K | +7.0% |
2 Bedrooms | $332K | $339.9K | +2.4% |
3 Bedrooms | $599.9K | $612K | +2.0% |
4 Bedrooms | $745K | $767.5K | +3.0% |
5+ Bedrooms | $880K | $996.2K | +13.2% |
Summary: Manalapan Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7%, 2 bedroom homes increased by 2.4%, 3 bedroom homes increased by 2%, 4 bedroom homes increased by 3%, and 5+ bedroom homes increased by 13.2%.
Median Sold Price Compared To Nearby Cities
Englishtown | $335K | $406K | +21.2% |
Freehold Township | $435.7K | $487.9K | +12.0% |
Monroe Township | $416.1K | $464.3K | +11.6% |
Marlboro | $743.5K | $765K | +2.9% |
Manalapan Township | $650K | $650K | 0.0% |
Housing Supply in Manalapan Township, NJ
How many homes are available in Manalapan Township, NJ?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
153 | 166 | +8.5% |
Summary: The Manalapan Township real estate market had 166 homes for sale in May 2024, a 8.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 7 | 8 | +14.3% |
2 Bedrooms | 42 | 43 | +2.4% |
3 Bedrooms | 34 | 35 | +2.9% |
4 Bedrooms | 49 | 49 | 0.0% |
5+ Bedrooms | 21 | 31 | +47.6% |
Summary: The Manalapan Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 14.3%, 2 bedroom homes increased by 2.4%, 3 bedroom homes increased by 2.9%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 47.6%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
33 | 36 | +9.1% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
16 Homes Were Sold
Over Asking
Summary: A total of 36 homes were sold or pending in Manalapan Township in May 2024, up by 9.1% month-over-month. Of the 36 sold homes, 33% were sold under asking, 22% were sold at asking, and 44% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
23 Days | 24 Days | +5.2% |
Summary: Homes in Manalapan Township had an average of 24 days on market in May 2024, up by 5.2% compared to last year.
Breakdown of Home Sale Times
27 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 36 homes were sold in Manalapan Township; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.