Is Old Bridge 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, Old Bridge Township has remained a Seller's Market.
Housing Prices in Old Bridge Township, NJ
How much do homes in Old Bridge Township, NJ cost?
Median Sold Price
$515,074
$311/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Old Bridge Township was $515,074 in May 2024, up 11.4% from last year, and the median price per square foot was $311.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $210K | $250K | +19.0% |
2 Bedrooms | $355K | $365K | +2.8% |
3 Bedrooms | $469.3K | $515K | +9.7% |
4 Bedrooms | $600K | $664.3K | +10.7% |
5+ Bedrooms | $710K | $735K | +3.5% |
Summary: Old Bridge Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19%, 2 bedroom homes increased by 2.8%, 3 bedroom homes increased by 9.7%, 4 bedroom homes increased by 10.7%, and 5+ bedroom homes increased by 3.5%.
Median Sold Price Compared To Nearby Cities
Old Bridge | $500K | $563K | +12.6% |
Spotswood | $401.2K | $450K | +12.1% |
Matawan | $451.3K | $505K | +11.9% |
Old Bridge Township | $462.5K | $515K | +11.4% |
Morganville | $711K | $760K | +6.9% |
Housing Supply in Old Bridge Township, NJ
How many homes are available in Old Bridge Township, NJ?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
207 | 250 | +20.8% |
Summary: The Old Bridge Township real estate market had 250 homes for sale in May 2024, a 20.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 15 | 13 | -13.3% |
2 Bedrooms | 37 | 45 | +21.6% |
3 Bedrooms | 69 | 81 | +17.4% |
4 Bedrooms | 70 | 94 | +34.3% |
5+ Bedrooms | 16 | 17 | +6.3% |
Summary: The Old Bridge Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 13.3%, 2 bedroom homes increased by 21.6%, 3 bedroom homes increased by 17.4%, 4 bedroom homes increased by 34.3%, and 5+ bedroom homes increased by 6.3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
32 | 52 | +62.5% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
39 Homes Were Sold
Over Asking
Summary: A total of 52 homes were sold or pending in Old Bridge Township in May 2024, up by 62.5% month-over-month. Of the 52 sold homes, 8% were sold under asking, 17% were sold at asking, and 75% were sold over asking.
Days on Market for Old Bridge Township, NJ
How long does it take to sell a home in Old Bridge Township, NJ?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
28 Days | 25 Days | -8.3% |
Summary: Homes in Old Bridge Township had an average of 25 days on market in May 2024, down by 8.3% compared to last year.
Breakdown of Home Sale Times
41 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 52 homes were sold in Old Bridge Township; 79% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.