Here’s what happened in the Ocean County Housing Market in 2024 and what to expect going forward.
In 2024, Ocean County's real estate market exhibited notable trends across various property types, reflecting both opportunities and challenges for buyers and sellers. The single-family home sector experienced an increase in new listings. The median sales price reached $553,000, marking a 4.3% year-over-year increase for the month of December, which highlights the market's upward trajectory.
While we’ve seen an increase in homes for sale and homes sold, we’re nowhere close to pre-covid numbers which has significantly impacted prices in the last 5 years.
Market trends for Ocean County: (in comparison to December 2023)
Home sales up 14.29%
Inventory up 4.74%
Sale Price up 9.93% county wide
Median Sale Price $553,000
Days on market (sold, but yet to close) is 40 Days
What’s Your Ocean County Home Worth?
Note on the following statistics - When there is a possibility of extreme values (i.e., a waterfront home vs. a small house), the median price is generally the better measure to use as opposed to the ‘average.’ – median is a more accurate representation.
2024 Ocean County Market Statistics for Selected Townships in Comparison to 2023
Stafford Twp. (Manahawkin)
- Median List Price: Up 5.41% (up over 70% compared to 2019)
- Median Sale Price: Up 3.21% (up over 80% compared to 2019)
- Sold Listings: Up 3.5% (down over 35% compared to 2019 due to lack of inventory)
- What’s Your Stafford Home Worth? Get a FREE, Instant Valuation
Barnegat Twp
- Median List Price: Up 5.88% (up over 60% compared to 2019)
- Median Sale Price: Up 5.63% (up over 73% compared to 2019)
- Sold Listings: Down 0.7% (due to lack of inventory and down over 27% compared to 2019)
- What’s Your Barnegat Home Worth? Get a FREE, Instant Valuation
Waretown (Ocean Twp)
- Median List Price: Up 13.76% (up over 74% compared to 2019)
- Median Sale Price: Up 8.89% (up over 70% compared to 2019)
- Sold Listings: Up 20.2% (down over 14% compared to 2019 due to lack of inventory)
- What’s Your Waretown Home Worth? Get a FREE, Instant Valuation
Lacey Twp (Lanoka Harbor and Forked River)
- Median List Price: Up 8.25% (up over 84% compared to 2019)
- Median Sale Price: Up 5.58% (up over 83% compared to 2019)
- Sold Listings: Up 10.3% (down over 44% compared to 2019 due to lack of inventory)
- What’s Your Lacey Twp Home Worth? Get a FREE, Instant Valuation
Berkeley Twp (Bayville)
- Median List Price: Up 3.97% (up over 60% compared to 2019)
- Median Sale Price: Up 7.08% (up over 74% compared to 2019)
- Sold Listings: Down 5.5% (due to lack of inventory, down over 26% compared to 2019)
- What’s Your Bayville Home Worth? Get a FREE, Instant Valuation
Toms River Township
- Median List Price: Up 10.12% (up over 63% compared to 2019)
- Median Sale Price: Up 13.41% (up over 73% compared to 2019)
- Sold Listings: Up 7.1% (down over 26% compared to 2019 due to lack of inventory)
- What’s Your Toms River Home Worth? Get a FREE, Instant Valuation
Brick Township
- Median List Price: Up 11.89% (up over 60% compared to 2019)
- Median Sale Price: Up 8.26% (up over 70% since 2019)
- Sold Listings: Up 4.1% (down over 36% compared to 2019 due to lack of inventory)
- What’s Your Brick Twp Home Worth? Get a FREE, Instant Valuation
Looking ahead, experts anticipate moderate growth in Ocean County’s real estate market as inventory gradually increases and more buyers adjust to higher borrowing costs. While economic uncertainties could introduce some volatility, the area’s strong fundamentals—proximity to cities, beaches, schools, lower taxes and appealing communities—are expected to keep the market stable. For investors and homebuyers alike, Ocean County in 2025 offers opportunities to capitalize on evolving market dynamics.
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Bottom Line: We are STILL in a Seller’s Market
Note: When there is more demand than supply for properties, it's known as a seller's market and gives home sellers an advantage in negotiations. This can lead to bidding wars and increased home prices as bidders fight for the few available properties. Homes may sell rapidly and for more than their asking price in a seller's market, increasing the value of the property. While owners hoping to turn a profit on their property sale may benefit from this kind of market, purchasers may find it challenging to locate reasonably priced homes.
Karl Hess provides expert real estate services to residential buyers and sellers in Ocean County. Contact us today for more information on Ocean County Real Estate and for professional assistance navigating this complex home market