Is Monroe Township, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Monroe Township was a Seller's Market.
Housing Prices in Monroe Township, NJ
How much do homes in Monroe Township, NJ cost?
Median Sold Price
$320,000
$194/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Monroe Township was $320,000 in May 2024, up 9.3% from last year, and the median price per square foot was $194.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $84K | $100K | +19.0% |
2 Bedrooms | $258.3K | $285K | +10.3% |
3 Bedrooms | $275K | $300K | +9.1% |
4 Bedrooms | $410K | $387.5K | -5.5% |
5+ Bedrooms | $545K | $550K | +0.9% |
Summary: Monroe 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 10.3%, 3 bedroom homes increased by 9.1%, 4 bedroom homes decreased by 5.5%, and 5+ bedroom homes increased by 0.9%.
Median Sold Price Compared To Nearby Cities
Monroe Township | $292.8K | $320K | +9.3% |
Williamstown | $288.9K | $315K | +9.0% |
Winslow Township | $290K | $309.9K | +6.9% |
Sicklerville | $309.9K | $318.8K | +2.8% |
Franklinville | $318.5K | $311K | -2.4% |
Housing Supply in Monroe Township, NJ
How many homes are available in Monroe Township, NJ?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
133 | 125 | -6.0% |
Summary: The Monroe Township real estate market had 125 homes for sale in May 2024, a 6.0% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 26 | 20 | -23.1% |
3 Bedrooms | 56 | 50 | -10.7% |
4 Bedrooms | 40 | 47 | +17.5% |
5+ Bedrooms | 10 | 7 | -30.0% |
Summary: The Monroe Township 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 decreased by 23.1%, 3 bedroom homes decreased by 10.7%, 4 bedroom homes increased by 17.5%, and 5+ bedroom homes decreased by 30%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
30 | 20 | -33.3% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Summary: A total of 20 homes were sold or pending in Monroe Township in May 2024, down by 33.3% month-over-month. Of the 20 sold homes, 25% were sold under asking, 10% were sold at asking, and 65% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
26 Days | 30 Days | +16.2% |
Summary: Homes in Monroe Township had an average of 30 days on market in May 2024, up by 16.2% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 20 homes were sold in Monroe Township; 75% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.