Is Burlington County, 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, Burlington County was a Seller's Market.
Housing Prices in Burlington County, NJ
How much do homes in Burlington County, NJ cost?
Median Sold Price
$359,976
$216/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Burlington County was $359,976 in May 2024, up 10.8% from last year, and the median price per square foot was $216.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $146.3K | $174.1K | +18.9% |
2 Bedrooms | $236.1K | $260K | +10.1% |
3 Bedrooms | $315K | $349.1K | +10.8% |
4 Bedrooms | $429.9K | $468.9K | +9.1% |
5+ Bedrooms | $531K | $587K | +10.5% |
Summary: Burlington County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.9%, 2 bedroom homes increased by 10.1%, 3 bedroom homes increased by 10.8%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes increased by 10.5%.
Median Sold Price Compared To Nearby Counties
Burlington County | $325K | $359.9K | +10.8% |
Camden County | $285K | $313.3K | +9.9% |
Mercer County | $380K | $412.7K | +8.6% |
Ocean County | $399.6K | $429.9K | +7.6% |
Philadelphia County | $264K | $257.9K | -2.3% |
Housing Supply in Burlington County, NJ
How many homes are available in Burlington County, NJ?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
1,481 | 1,618 | +9.3% |
Summary: The Burlington County real estate market had 1,618 homes for sale in May 2024, a 9.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 32 | 36 | +12.5% |
2 Bedrooms | 255 | 303 | +18.8% |
3 Bedrooms | 567 | 607 | +7.1% |
4 Bedrooms | 498 | 538 | +8.0% |
5+ Bedrooms | 129 | 134 | +3.9% |
Summary: The Burlington County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 12.5%, 2 bedroom homes increased by 18.8%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 8%, and 5+ bedroom homes increased by 3.9%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
341 | 263 | -22.9% |
Asking Price vs. Sold Price
60 Homes Were Sold
Under Asking
32 Homes Were Sold
At Asking
171 Homes Were Sold
Over Asking
Summary: A total of 263 homes were sold or pending in Burlington County in May 2024, down by 22.9% month-over-month. Of the 263 sold homes, 23% were sold under asking, 12% were sold at asking, and 65% were sold over asking.
Days on Market for Burlington County, NJ
How long does it take to sell a home in Burlington County, NJ?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
28 Days | 26 Days | -7.2% |
Summary: Homes in Burlington County had an average of 26 days on market in May 2024, down by 7.2% compared to last year.
Breakdown of Home Sale Times
197 Homes Were Sold
Under 30 Days
49 Homes Were Sold
In 30 - 90 Days
16 Homes Were Sold
Over 90 Days
Summary: During May 2024, 263 homes were sold in Burlington County; 75% 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.