Is Pittsgrove 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, Pittsgrove Township was a Seller's Market.
Key Takeaway
Pittsgrove Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Pittsgrove Township, NJ
How much do homes in Pittsgrove Township, NJ cost?
Median Sold Price
$330,000
$188/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Pittsgrove Township have sold for 10% more than they did a year ago.
Summary: The median home sold price in Pittsgrove Township was $330,000 in May 2024, up 10% 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 | - | - | N/A |
| 2 Bedrooms | $164K | $220K | +34.1% |
| 3 Bedrooms | $288.7K | $319.9K | +10.8% |
| 4 Bedrooms | $381.2K | $390K | +2.3% |
| 5+ Bedrooms | $575K | $699K | +21.6% |
Summary: Pittsgrove 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 34.1%, 3 bedroom homes increased by 10.8%, 4 bedroom homes increased by 2.3%, and 5+ bedroom homes increased by 21.6%.
Median Sold Price Compared To Nearby Cities
| Franklin Township | $280K | $332K | +18.6% |
| Elmer | $270K | $300K | +11.1% |
| Pittsgrove Township | $300K | $330K | +10.0% |
| Vineland | $255K | $265.2K | +4.0% |
Housing Supply in Pittsgrove Township, NJ
How many homes are available in Pittsgrove Township, NJ?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 22 | 26 | +18.2% |
Summary: The Pittsgrove Township real estate market had 26 homes for sale in May 2024, a 18.2% 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 | 4 | 4 | 0.0% |
| 3 Bedrooms | 13 | 14 | +7.7% |
| 4 Bedrooms | 5 | 7 | +40.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Pittsgrove 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 remained the same, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 40%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 5 | 2 | -60.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Pittsgrove Township, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 2 homes were sold or pending in Pittsgrove Township in May 2024, down by 60.0% month-over-month. Of the 2 sold homes, 0% were sold under asking, 50% were sold at asking, and 50% were sold over asking.
Days on Market for Pittsgrove Township, NJ
How long does it take to sell a home in Pittsgrove Township, NJ?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 11 Days | 33 Days | +200.0% |
Summary: Homes in Pittsgrove Township had an average of 33 days on market in May 2024, up by 200% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Pittsgrove Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 2 homes were sold in Pittsgrove Township; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Disclaimer: The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the South Jersey Shore Regional (SJSR) MLS. Real estate listings held by brokerage firms are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. © 2024 SJSR MLS. All rights reserved.