Is Manchester 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, Manchester Township has remained a Seller's Market.
Key Takeaway
Manchester Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Manchester Township, NJ
How much do homes in Manchester Township, NJ cost?
Median Sold Price
$246,109
$209/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Manchester Township have sold for 4.8% more than they did a year ago.
Summary: The median home sold price in Manchester Township was $246,109 in May 2024, up 4.8% from last year, and the median price per square foot was $209.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $69.9K | $81.5K | +16.6% |
| 2 Bedrooms | $205K | $234.9K | +14.6% |
| 3 Bedrooms | $450K | $487.5K | +8.3% |
| 4 Bedrooms | $592.5K | $624.9K | +5.5% |
| 5+ Bedrooms | $655K | $785K | +19.8% |
Summary: Manchester Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.6%, 2 bedroom homes increased by 14.6%, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 5.5%, and 5+ bedroom homes increased by 19.8%.
Median Sold Price Compared To Nearby Cities
| Lakehurst | $290K | $325K | +12.1% |
| Manchester Township | $234.8K | $246.1K | +4.8% |
| Toms River | $352.9K | $370K | +4.8% |
| Toms River Township | $368.4K | $382.7K | +3.9% |
| Jackson | $533K | $547.2K | +2.7% |
Housing Supply in Manchester Township, NJ
How many homes are available in Manchester Township, NJ?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 415 | 415 | 0.0% |
Summary: The Manchester Township real estate market had 415 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 30 | 25 | -16.7% |
| 2 Bedrooms | 307 | 311 | +1.3% |
| 3 Bedrooms | 48 | 48 | 0.0% |
| 4 Bedrooms | 26 | 26 | 0.0% |
| 5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The Manchester Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 16.7%, 2 bedroom homes increased by 1.3%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 86 | 119 | +38.4% |
Asking Price vs. Sold Price
48 Homes Were Sold
Under Asking
26 Homes Were Sold
At Asking
45 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Manchester Township, you may be able to get a good deal. 40.3% of homes here sold below asking price last month.
Summary: A total of 119 homes were sold or pending in Manchester Township in May 2024, up by 38.4% month-over-month. Of the 119 sold homes, 40% were sold under asking, 22% were sold at asking, and 38% were sold over asking.
Days on Market for Manchester Township, NJ
How long does it take to sell a home in Manchester Township, NJ?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 36 Days | 43 Days | +19.6% |
Summary: Homes in Manchester Township had an average of 43 days on market in May 2024, up by 19.6% compared to last year.
Breakdown of Home Sale Times
73 Homes Were Sold
Under 30 Days
27 Homes Were Sold
In 30 - 90 Days
19 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Manchester Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 119 homes were sold in Manchester Township; 61% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 16% 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.