Is Spotswood, 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, Spotswood was a Buyer's Market.
Key Takeaway
Spotswood is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Spotswood, NJ
How much do homes in Spotswood, NJ cost?
Median Sold Price
$450,000
$332/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Spotswood have sold for 12.1% more than they did a year ago.
Summary: The median home sold price in Spotswood was $450,000 in May 2024, up 12.1% from last year, and the median price per square foot was $332.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $140K | $165K | +17.9% |
| 2 Bedrooms | $310K | $275K | -11.3% |
| 3 Bedrooms | $419K | $465K | +11.0% |
| 4 Bedrooms | $475K | $530K | +11.6% |
| 5+ Bedrooms | $500K | $882.5K | +76.5% |
Summary: Spotswood housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17.9%, 2 bedroom homes decreased by 11.3%, 3 bedroom homes increased by 11%, 4 bedroom homes increased by 11.6%, and 5+ bedroom homes increased by 76.5%.
Median Sold Price Compared To Nearby Cities
| East Brunswick Township | $485.5K | $561.8K | +15.7% |
| Old Bridge | $500K | $563K | +12.6% |
| Spotswood | $401.2K | $450K | +12.1% |
| Monroe Township | $416.1K | $464.3K | +11.6% |
| Old Bridge Township | $462.5K | $515K | +11.4% |
Housing Supply in Spotswood, NJ
How many homes are available in Spotswood, NJ?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 24 | 25 | +4.2% |
Summary: The Spotswood real estate market had 25 homes for sale in May 2024, a 4.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 3 | 3 | 0.0% |
| 3 Bedrooms | 14 | 15 | +7.1% |
| 4 Bedrooms | 5 | 6 | +20.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Spotswood housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 4 | 10 | +150.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Spotswood, you could pay more than the asking price. 70% of homes here sold above asking price last month.
Summary: A total of 10 homes were sold or pending in Spotswood in May 2024, up by 150.0% month-over-month. Of the 10 sold homes, 20% were sold under asking, 10% were sold at asking, and 70% were sold over asking.
Days on Market for Spotswood, NJ
How long does it take to sell a home in Spotswood, NJ?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 24 Days | 35 Days | +46.3% |
Summary: Homes in Spotswood had an average of 35 days on market in May 2024, up by 46.3% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Spotswood are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 10 homes were sold in Spotswood; 60% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 10% 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 Listing Display database of the CENTRAL JERSEY MULTIPLE LISTING SYSTEM. Real estate listings held by brokerage firms other than this site-owner are marked with the ILD logo. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM does not warrant the accuracy, quality, reliability, suitability, completeness, usefulness or effectiveness of any information provided. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify properties the consumer may be interested in purchasing or renting. Copyright 2024, CENTRAL JERSEY MULTIPLE LISTING SYSTEM. All Rights Reserved. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM retains all rights, title and interest in and to its trademarks, service marks and copyrighted material.
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.
Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement.