Is Somerdale, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Somerdale was a Seller's Market.
Housing Prices in Somerdale, NJ
How much do homes in Somerdale, NJ cost?
Median Sold Price
$317,999
$199/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Somerdale was $317,999 in May 2024, up 21.6% from last year, and the median price per square foot was $199.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $90K | $121.5K | +35.0% |
2 Bedrooms | $160K | $235K | +46.9% |
3 Bedrooms | $250K | $296.5K | +18.6% |
4 Bedrooms | $307.5K | $355K | +15.4% |
5+ Bedrooms | $249.5K | $390K | +56.3% |
Summary: Somerdale housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 35%, 2 bedroom homes increased by 46.9%, 3 bedroom homes increased by 18.6%, 4 bedroom homes increased by 15.4%, and 5+ bedroom homes increased by 56.3%.
Median Sold Price Compared To Nearby Cities
Somerdale | $261.5K | $317.9K | +21.6% |
Lawnside | $260K | $299.9K | +15.3% |
Magnolia | $260.5K | $292.5K | +12.3% |
Housing Supply in Somerdale, NJ
How many homes are available in Somerdale, NJ?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
24 | 36 | +50.0% |
Summary: The Somerdale real estate market had 36 homes for sale in May 2024, a 50.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 2 | 3 | +50.0% |
3 Bedrooms | 14 | 25 | +78.6% |
4 Bedrooms | 7 | 7 | 0.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Somerdale housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 78.6%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
5 | 4 | -20.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 4 homes were sold or pending in Somerdale in May 2024, down by 20.0% month-over-month. Of the 4 sold homes, 0% were sold under asking, 25% were sold at asking, and 75% were sold over asking.
Days on Market for Somerdale, NJ
How long does it take to sell a home in Somerdale, NJ?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
26 Days | 13 Days | -50.4% |
Summary: Homes in Somerdale had an average of 13 days on market in May 2024, down by 50.4% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 4 homes were sold in Somerdale; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.