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
Since last year, Monroe Township has remained a Seller's Market.
Housing Prices in Monroe Township, NJ
How much do homes in Monroe Township, NJ cost?
Median Sold Price
$464,333
$269/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 $464,333 in May 2024, up 11.6% from last year, and the median price per square foot was $269.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $107K | $160.6K | +50.1% |
2 Bedrooms | $328.7K | $368.3K | +12.0% |
3 Bedrooms | $515K | $581.5K | +12.9% |
4 Bedrooms | $755K | $805K | +6.6% |
5+ Bedrooms | $876K | $1.1M | +26.8% |
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 50.1%, 2 bedroom homes increased by 12%, 3 bedroom homes increased by 12.9%, 4 bedroom homes increased by 6.6%, and 5+ bedroom homes increased by 26.8%.
Median Sold Price Compared To Nearby Cities
Jamesburg | $360K | $420K | +16.7% |
Spotswood | $401.2K | $450K | +12.1% |
Monroe Township | $416.1K | $464.3K | +11.6% |
Old Bridge Township | $462.5K | $515K | +11.4% |
Helmetta | $330K | $325K | -1.5% |
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 |
---|---|---|
323 | 371 | +14.9% |
Summary: The Monroe Township real estate market had 371 homes for sale in May 2024, a 14.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 6 | 6 | 0.0% |
2 Bedrooms | 182 | 212 | +16.5% |
3 Bedrooms | 74 | 75 | +1.4% |
4 Bedrooms | 40 | 48 | +20.0% |
5+ Bedrooms | 21 | 30 | +42.9% |
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 increased by 16.5%, 3 bedroom homes increased by 1.4%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 42.9%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
68 | 70 | +2.9% |
Asking Price vs. Sold Price
26 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
40 Homes Were Sold
Over Asking
Summary: A total of 70 homes were sold or pending in Monroe Township in May 2024, up by 2.9% month-over-month. Of the 70 sold homes, 37% were sold under asking, 6% were sold at asking, and 57% 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 |
---|---|---|
38 Days | 41 Days | +8.1% |
Summary: Homes in Monroe Township had an average of 41 days on market in May 2024, up by 8.1% compared to last year.
Breakdown of Home Sale Times
43 Homes Were Sold
Under 30 Days
18 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Summary: During May 2024, 70 homes were sold in Monroe Township; 61% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.