Is Monmouth Junction, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Monmouth Junction is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, Monmouth Junction has remained a Seller's Market.

Key Takeaway

Monmouth Junction is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Monmouth Junction, NJ

How much do homes in Monmouth Junction, NJ cost?

Median Sold Price

$557,500

$319/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$57,500(+11.5%)

Key Takeaway

Homes in Monmouth Junction have sold for 11.5% more than they did a year ago.

Summary: The median home sold price in Monmouth Junction was $557,500 in October 2024, up 11.5% from last year, and the median price per square foot was $319.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $234K$274K
+17.1%
2 $307K$390K
+27.0%
3 $475K$685K
+44.2%
4 $740.5K$895K
+20.9%
5+ $870K$969.4K
+11.4%

Summary: Monmouth Junction housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17.1%, 2 bedroom homes increased by 27%, 3 bedroom homes increased by 44.2%, 4 bedroom homes increased by 20.9%, and 5+ bedroom homes increased by 11.4%.

Median Sold Price Compared To Nearby Cities

South Brunswick Township
+18.3%
Plainsboro
+14.4%
Kendall Park
+13.8%
Monmouth Junction
+11.5%
Dayton
+8.4%

Housing Supply in Monmouth Junction, NJ

How many homes are available in Monmouth Junction, NJ?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
5257+9.6%

Summary: The Monmouth Junction real estate market had 57 homes for sale in October 2024, a 9.6% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 1417
+21.4%
3 1517
+13.3%
4 1616
0.0%
5+ 77
0.0%

Summary: The Monmouth Junction housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 21.4%, 3 bedroom homes increased by 13.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
13130.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

13 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Monmouth Junction, you could pay more than the asking price. 100% of homes here sold above asking price last month.

Summary: A total of 13 homes were sold or pending in Monmouth Junction in October 2024, the same as the previous month. Of the 13 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.

Days on Market for Monmouth Junction, NJ

How long does it take to sell a home in Monmouth Junction, NJ?

Average Sale Time

Oct 2023Oct 2024CHANGE
16 Days30 Days+85.4%

Summary: Homes in Monmouth Junction had an average of 30 days on market in Oct 2024, up by 85.4% compared to last year.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Monmouth Junction has remained consistent over time.

Summary: During October 2024, 13 homes were sold in Monmouth Junction; 46% of homes were sold within 30 days, 54% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 20 Days Ago

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