Is Berkeley 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, Berkeley Township has remained a Seller's Market.
Housing Prices in Berkeley Township, NJ
How much do homes in Berkeley Township, NJ cost?
Median Sold Price
$336,536
$242/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Berkeley Township was $336,536 in May 2024, up 6.8% from last year, and the median price per square foot was $242.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $226K | $247.5K | +9.5% |
2 Bedrooms | $285.7K | $300.6K | +5.2% |
3 Bedrooms | $419K | $450K | +7.4% |
4 Bedrooms | $535K | $614.9K | +15.0% |
5+ Bedrooms | $670K | $662.5K | -1.1% |
Summary: Berkeley Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.5%, 2 bedroom homes increased by 5.2%, 3 bedroom homes increased by 7.4%, 4 bedroom homes increased by 15%, and 5+ bedroom homes decreased by 1.1%.
Median Sold Price Compared To Nearby Cities
Bayville | $424K | $503.7K | +18.8% |
Ocean Gate | $360K | $425K | +18.1% |
Lanoka Harbor | $460K | $530K | +15.2% |
Lacey Township | $398.6K | $450K | +12.9% |
Berkeley Township | $315K | $336.5K | +6.8% |
Housing Supply in Berkeley Township, NJ
How many homes are available in Berkeley Township, NJ?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
376 | 376 | 0.0% |
Summary: The Berkeley Township real estate market had 376 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 3 | +50.0% |
2 Bedrooms | 278 | 278 | 0.0% |
3 Bedrooms | 36 | 42 | +16.7% |
4 Bedrooms | 49 | 45 | -8.2% |
5+ Bedrooms | 11 | 8 | -27.3% |
Summary: The Berkeley Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes remained the same, 3 bedroom homes increased by 16.7%, 4 bedroom homes decreased by 8.2%, and 5+ bedroom homes decreased by 27.3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
96 | 82 | -14.6% |
Asking Price vs. Sold Price
37 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
32 Homes Were Sold
Over Asking
Summary: A total of 82 homes were sold or pending in Berkeley Township in May 2024, down by 14.6% month-over-month. Of the 82 sold homes, 45% were sold under asking, 16% were sold at asking, and 39% were sold over asking.
Days on Market for Berkeley Township, NJ
How long does it take to sell a home in Berkeley Township, NJ?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
30 Days | 46 Days | +52.9% |
Summary: Homes in Berkeley Township had an average of 46 days on market in May 2024, up by 52.9% compared to last year.
Breakdown of Home Sale Times
49 Homes Were Sold
Under 30 Days
22 Homes Were Sold
In 30 - 90 Days
11 Homes Were Sold
Over 90 Days
Summary: During May 2024, 82 homes were sold in Berkeley Township; 60% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.