$10,000 Closing Credit*
$859,000
986 SqFt
3 Beds
•1 Full Bath, 1 Partial
Gary L Huizenga, Listing Office: C21/ Coastal Realtors
Is Ocean Grove, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Ocean Grove has remained a Seller's Market.
Key Takeaway
Ocean Grove is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Ocean Grove, NJ
How much do homes in Ocean Grove, NJ cost?
Median Sold Price
$859,000
$582/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$133,000(+18.3%)
Key Takeaway
Homes in Ocean Grove have sold for 18.3% more than they did a year ago.
Summary: The median home sold price in Ocean Grove was $859,000 in November 2024, up 18.3% from last year, and the median price per square foot was $582.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $400K | $500K | +25.0% |
| 2 Bedrooms | $610K | $694K | +13.8% |
| 3 Bedrooms | $741.2K | $818.2K | +10.4% |
| 4 Bedrooms | $801K | $1.0M | +32.6% |
| 5+ Bedrooms | $1.2M | $999K | -17.4% |
Summary: Ocean Grove housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 13.8%, 3 bedroom homes increased by 10.4%, 4 bedroom homes increased by 32.6%, and 5+ bedroom homes decreased by 17.4%.
Median Sold Price Compared To Nearby Neighborhoods
| Ocean Grove | $726K | $859K | +18.3% |
| Bradley Park | $401K | $390K | -2.7% |
Housing Supply in Ocean Grove, NJ
How many homes are available in Ocean Grove, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 28 | 25 | -10.7% |
Summary: The Ocean Grove real estate market had 25 homes for sale in November 2024, a 10.7% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 5 | +25.0% |
| 2 Bedrooms | 6 | 7 | +16.7% |
| 3 Bedrooms | 7 | 3 | -57.1% |
| 4 Bedrooms | 5 | 4 | -20.0% |
| 5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The Ocean Grove housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 16.7%, 3 bedroom homes decreased by 57.1%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 9 | 6 | -33.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Ocean Grove, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 6 homes were sold or pending in Ocean Grove in November 2024, down by 33.3% month-over-month. Of the 6 sold homes, 33% were sold under asking, 17% were sold at asking, and 50% were sold over asking.
Days on Market for Ocean Grove, NJ
How long does it take to sell a home in Ocean Grove, NJ?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 47 Days | 34 Days | -27.4% |
Summary: Homes in Ocean Grove had an average of 34 days on market in Nov 2024, down by 27.4% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Ocean Grove are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 6 homes were sold in Ocean Grove; 83% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 17% 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.