Is Ocean 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, Ocean Township has remained a Seller's Market.
Housing Prices in Ocean Township, NJ
How much do homes in Ocean Township, NJ cost?
Median Sold Price
$540,625
$297/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Ocean Township was $540,625 in May 2024, up 5.9% from last year, and the median price per square foot was $297.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $210K | $355K | +69.0% |
2 Bedrooms | $470K | $470K | 0.0% |
3 Bedrooms | $505K | $565K | +11.9% |
4 Bedrooms | $640K | $682K | +6.6% |
5+ Bedrooms | $875K | $925K | +5.7% |
Summary: Ocean Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 69%, 2 bedroom homes did not change, 3 bedroom homes increased by 11.9%, 4 bedroom homes increased by 6.6%, and 5+ bedroom homes increased by 5.7%.
Median Sold Price Compared To Nearby Cities
Waretown | $375K | $465.1K | +24.0% |
Lacey Township | $398.6K | $450K | +12.9% |
Ocean Township | $510.3K | $540.6K | +5.9% |
Barnegat Township | $425K | $445K | +4.7% |
Housing Supply in Ocean Township, NJ
How many homes are available in Ocean Township, NJ?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
135 | 130 | -3.7% |
Summary: The Ocean Township real estate market had 130 homes for sale in May 2024, a 3.7% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 1 | -50.0% |
2 Bedrooms | 35 | 31 | -11.4% |
3 Bedrooms | 56 | 56 | 0.0% |
4 Bedrooms | 28 | 26 | -7.1% |
5+ Bedrooms | 14 | 16 | +14.3% |
Summary: The Ocean Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 11.4%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 7.1%, and 5+ bedroom homes increased by 14.3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
33 | 26 | -21.2% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Summary: A total of 26 homes were sold or pending in Ocean Township in May 2024, down by 21.2% month-over-month. Of the 26 sold homes, 31% were sold under asking, 12% were sold at asking, and 58% were sold over asking.
Days on Market for Ocean Township, NJ
How long does it take to sell a home in Ocean Township, NJ?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
32 Days | 26 Days | -16.9% |
Summary: Homes in Ocean Township had an average of 26 days on market in May 2024, down by 16.9% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 26 homes were sold in Ocean Township; 73% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.