Is Moorestown 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, Moorestown Township was a Seller's Market.
Key Takeaway
Moorestown Township is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Moorestown Township, NJ
How much do homes in Moorestown Township, NJ cost?
Median Sold Price
$630,000
$267/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Moorestown Township have sold for 13.6% more than they did a year ago.
Summary: The median home sold price in Moorestown Township was $630,000 in May 2024, up 13.6% from last year, and the median price per square foot was $267.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $335K | $340K | +1.5% |
| 3 Bedrooms | $480K | $522.5K | +8.9% |
| 4 Bedrooms | $721.5K | $689.9K | -4.4% |
| 5+ Bedrooms | $1.2M | $999.9K | -18.0% |
Summary: Moorestown Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 1.5%, 3 bedroom homes increased by 8.9%, 4 bedroom homes decreased by 4.4%, and 5+ bedroom homes decreased by 18%.
Median Sold Price Compared To Nearby Cities
| Maple Shade | $255K | $290K | +13.7% |
| Maple Shade Township | $255K | $290K | +13.7% |
| Moorestown Township | $554.7K | $630K | +13.6% |
| Mount Laurel Township | $324.2K | $365.1K | +12.6% |
| Cinnaminson Township | $360K | $390K | +8.3% |
Housing Supply in Moorestown Township, NJ
How many homes are available in Moorestown Township, NJ?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 82 | 97 | +18.3% |
Summary: The Moorestown Township real estate market had 97 homes for sale in May 2024, a 18.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 6 | 8 | +33.3% |
| 3 Bedrooms | 27 | 27 | 0.0% |
| 4 Bedrooms | 33 | 39 | +18.2% |
| 5+ Bedrooms | 16 | 23 | +43.8% |
Summary: The Moorestown 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 33.3%, 3 bedroom homes remained the same, 4 bedroom homes increased by 18.2%, and 5+ bedroom homes increased by 43.8%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 21 | 15 | -28.6% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Moorestown Township, you could pay more than the asking price. 53.3% of homes here sold above asking price last month.
Summary: A total of 15 homes were sold or pending in Moorestown Township in May 2024, down by 28.6% month-over-month. Of the 15 sold homes, 47% were sold under asking, 0% were sold at asking, and 53% were sold over asking.
Days on Market for Moorestown Township, NJ
How long does it take to sell a home in Moorestown Township, NJ?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 36 Days | 44 Days | +20.9% |
Summary: Homes in Moorestown Township had an average of 44 days on market in May 2024, up by 20.9% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Moorestown Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 15 homes were sold in Moorestown Township; 60% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 20% 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 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.