Is Washington Township, 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, Washington Township was a Seller's Market.
Housing Prices in Washington Township, NJ
How much do homes in Washington Township, NJ cost?
Median Sold Price
$358,171
$197/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Washington Township was $358,171 in May 2024, up 5.1% from last year, and the median price per square foot was $197.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $170K | $172.4K | +1.4% |
2 Bedrooms | $215K | $242.5K | +12.8% |
3 Bedrooms | $318K | $350K | +10.1% |
4 Bedrooms | $445K | $456K | +2.5% |
5+ Bedrooms | $448.2K | $474.5K | +5.9% |
Summary: Washington Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.4%, 2 bedroom homes increased by 12.8%, 3 bedroom homes increased by 10.1%, 4 bedroom homes increased by 2.5%, and 5+ bedroom homes increased by 5.9%.
Housing Supply in Washington Township, NJ
How many homes are available in Washington Township, NJ?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
198 | 220 | +11.1% |
Summary: The Washington Township real estate market had 220 homes for sale in May 2024, a 11.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 4 | +100.0% |
2 Bedrooms | 44 | 42 | -4.5% |
3 Bedrooms | 68 | 78 | +14.7% |
4 Bedrooms | 68 | 72 | +5.9% |
5+ Bedrooms | 18 | 24 | +33.3% |
Summary: The Washington Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 4.5%, 3 bedroom homes increased by 14.7%, 4 bedroom homes increased by 5.9%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
53 | 33 | -37.7% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
22 Homes Were Sold
Over Asking
Summary: A total of 33 homes were sold or pending in Washington Township in May 2024, down by 37.7% month-over-month. Of the 33 sold homes, 15% were sold under asking, 18% were sold at asking, and 67% were sold over asking.
Days on Market for Washington Township, NJ
How long does it take to sell a home in Washington Township, NJ?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
19 Days | 13 Days | -27.5% |
Summary: Homes in Washington Township had an average of 13 days on market in May 2024, down by 27.5% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 33 homes were sold in Washington Township; 58% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.