Is Metuchen, 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, Metuchen has remained a Seller's Market.
Housing Prices in Metuchen, NJ
How much do homes in Metuchen, NJ cost?
Median Sold Price
$630,000
$379/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Metuchen was $630,000 in May 2024, up 19.8% from last year, and the median price per square foot was $379.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $234.2K | $280K | +19.5% |
2 Bedrooms | $347.5K | $405K | +16.5% |
3 Bedrooms | $515K | $593.5K | +15.2% |
4 Bedrooms | $632.5K | $700K | +10.7% |
5+ Bedrooms | $746.5K | $870K | +16.5% |
Summary: Metuchen housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19.5%, 2 bedroom homes increased by 16.5%, 3 bedroom homes increased by 15.2%, 4 bedroom homes increased by 10.7%, and 5+ bedroom homes increased by 16.5%.
Median Sold Price Compared To Nearby Cities
Metuchen | $526K | $630K | +19.8% |
Edison Township | $485K | $542.3K | +11.8% |
Edison | $487.1K | $541K | +11.1% |
Housing Supply in Metuchen, NJ
How many homes are available in Metuchen, NJ?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
48 | 52 | +8.3% |
Summary: The Metuchen real estate market had 52 homes for sale in May 2024, a 8.3% 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 | 5 | 9 | +80.0% |
3 Bedrooms | 17 | 17 | 0.0% |
4 Bedrooms | 14 | 14 | 0.0% |
5+ Bedrooms | 12 | 12 | 0.0% |
Summary: The Metuchen 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 80%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
10 | 9 | -10.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 9 homes were sold or pending in Metuchen in May 2024, down by 10.0% month-over-month. Of the 9 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.
Days on Market for Metuchen, NJ
How long does it take to sell a home in Metuchen, NJ?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
22 Days | 35 Days | +57.7% |
Summary: Homes in Metuchen had an average of 35 days on market in May 2024, up by 57.7% compared to last year.
Breakdown of Home Sale Times
3 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, 9 homes were sold in Metuchen; 33% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.