Is Red Bank, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Red Bank has remained a Seller's Market.
Housing Prices in Red Bank, NJ
How much do homes in Red Bank, NJ cost?
Median Sold Price
$540,000
$359/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Red Bank was $540,000 in April 2024, up 8.8% from last year, and the median price per square foot was $359.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $265K | $316.5K | +19.4% |
2 Bedrooms | $381.9K | $382.5K | 0.1% |
3 Bedrooms | $592.5K | $614.9K | +3.8% |
4 Bedrooms | $715K | $814.9K | +14.0% |
5+ Bedrooms | $850K | $1.0M | +23.3% |
Summary: Red Bank housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19.4%, 2 bedroom homes increased by 0.1%, 3 bedroom homes increased by 3.8%, 4 bedroom homes increased by 14%, and 5+ bedroom homes increased by 23.3%.
Median Sold Price Compared To Nearby Cities
Fair Haven | $1.1M | $1.3M | +13.9% |
Red Bank | $496.2K | $540K | +8.8% |
Middletown Township | $562K | $585K | +4.1% |
Housing Supply in Red Bank, NJ
How many homes are available in Red Bank, NJ?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
70 | 75 | +7.1% |
Summary: The Red Bank real estate market had 75 homes for sale in April 2024, a 7.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 7 | 9 | +28.6% |
2 Bedrooms | 34 | 37 | +8.8% |
3 Bedrooms | 17 | 17 | 0.0% |
4 Bedrooms | 11 | 11 | 0.0% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Red Bank housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 28.6%, 2 bedroom homes increased by 8.8%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
19 | 21 | +10.5% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Summary: A total of 21 homes were sold or pending in Red Bank in April 2024, up by 10.5% month-over-month. Of the 21 sold homes, 24% were sold under asking, 14% were sold at asking, and 62% were sold over asking.
Days on Market for Red Bank, NJ
How long does it take to sell a home in Red Bank, NJ?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
22 Days | 24 Days | +10.6% |
Summary: Homes in Red Bank had an average of 24 days on market in Apr 2024, up by 10.6% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 21 homes were sold in Red Bank; 81% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.