Is Galloway Township, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Galloway Township has remained a Seller's Market.
Housing Prices in Galloway Township, NJ
How much do homes in Galloway Township, NJ cost?
Median Sold Price
$300,000
$188/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Galloway Township was $300,000 in May 2024, up 12.9% from last year, and the median price per square foot was $188.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $127K | $167K | +31.5% |
2 Bedrooms | $179.9K | $217K | +20.6% |
3 Bedrooms | $310K | $347.5K | +12.1% |
4 Bedrooms | $382.9K | $415K | +8.4% |
5+ Bedrooms | $457.5K | $444K | -3.0% |
Summary: Galloway Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 31.5%, 2 bedroom homes increased by 20.6%, 3 bedroom homes increased by 12.1%, 4 bedroom homes increased by 8.4%, and 5+ bedroom homes decreased by 3%.
Median Sold Price Compared To Nearby Cities
Galloway Township | $265.6K | $300K | +12.9% |
Brigantine | $529K | $595K | +12.5% |
Absecon | $284K | $314.9K | +10.9% |
Egg Harbor City | $265K | $274.9K | +3.8% |
Housing Supply in Galloway Township, NJ
How many homes are available in Galloway Township, NJ?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
170 | 168 | -1.2% |
Summary: The Galloway Township real estate market had 168 homes for sale in May 2024, a 1.2% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 8 | 8 | 0.0% |
2 Bedrooms | 45 | 46 | +2.2% |
3 Bedrooms | 68 | 61 | -10.3% |
4 Bedrooms | 33 | 38 | +15.2% |
5+ Bedrooms | 16 | 15 | -6.3% |
Summary: The Galloway Township 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 2.2%, 3 bedroom homes decreased by 10.3%, 4 bedroom homes increased by 15.2%, and 5+ bedroom homes decreased by 6.3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
45 | 47 | +4.4% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
19 Homes Were Sold
Over Asking
Summary: A total of 47 homes were sold or pending in Galloway Township in May 2024, up by 4.4% month-over-month. Of the 41 sold homes, 24% were sold under asking, 29% were sold at asking, and 46% were sold over asking.
Days on Market for Galloway Township, NJ
How long does it take to sell a home in Galloway Township, NJ?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
38 Days | 23 Days | -38.9% |
Summary: Homes in Galloway Township had an average of 23 days on market in May 2024, down by 38.9% compared to last year.
Breakdown of Home Sale Times
35 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During May 2024, 47 homes were sold in Galloway Township; 74% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.