Home Values

Ocean Grove Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$414,800

  • 6.6% 1-year change
  • 1.8% 1-year forecast

The median home value in Ocean Grove is $414,800. Ocean Grove home values have gone up 6.6% over the past year and Zillow predicts they will rise 1.8% within the next year. The median list price per square foot in Ocean Grove is $319, which is higher than the New York Metro average of $251. The median price of homes currently listed in Ocean Grove is $455,000 while the median price of homes that sold is $495,000.

Foreclosures will be a factor impacting home values in the next several years. In Ocean Grove 2.9 homes are foreclosed (per 10,000). This is greater than the New York Metro value of 1.5 and also lower than the national value of 4.2

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Ocean Grove is 2.1%, which is lower than the national value of 6.4%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Ocean Grove homeowners underwater on their mortgage is 9.9%, which is lower than New York Metro at 13.6%.

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Relative ZHVI
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Ocean Grove Market Overview

Data through Nov 30, 2014
  • $414,800 ZHVI
  • 1.8% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Nov 30, 2015)
  • $455,000 Median listing price
  • $495,000 Median sale price (Oct 31, 2014)
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Ocean Grove Market Health

Data through Nov 30, 2014
  • 6.7/10 Healthy
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
  • No data Average days on Zillow
  • 9.9% Homes with negative equity (16.9% US Avg) (Sep 30, 2014)
  • 2.1% Delinquent on mortgage (6.4% US Avg) (Sep 30, 2014)

Homes foreclosed (per 10,000)

2.9 homes(Apr 30, 2014) Ocean Grove
1.5 homes New York Metro
4.2 homes United States
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Nearby Cities

Name Median ZHVI
Deal $1,888,200
Avon by the Sea $844,100
Bradley Beach $500,500
Name Median ZHVI
Belmar $477,500
Ocean Township $441,100
Shark River Hills $333,400
Name Median ZHVI
Wanamassa $312,500
Neptune $252,400
Neptune City $248,600

Listings & Sales

Data through Nov 30, 2014
  • $319 Median list price / sq ft
  • $323 Median sale price / sq ft (Oct 31, 2014)
  • No data Listings with price cut
35.7%
Sold below listing
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Ocean Grove Rentals

Data through Nov 30, 2014
  • Zillow Rent Index

  • $2,185 Ocean Grove
    $2,329 New York Metro
    $1,342 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 2.5 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • No data Rent list price
  • No data Rent list price / sq ft
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