Is Medford, 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, Medford was a Seller's Market.
Housing Prices in Medford, NJ
How much do homes in Medford, NJ cost?
Median Sold Price
$550,000
$228/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Medford was $550,000 in May 2024, up 9.8% from last year, and the median price per square foot was $228.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $155K | $170K | +9.7% |
2 Bedrooms | $361K | $489.5K | +35.6% |
3 Bedrooms | $413K | $442.5K | +7.1% |
4 Bedrooms | $583.7K | $595K | +1.9% |
5+ Bedrooms | $605K | $750K | +24.0% |
Summary: Medford housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.7%, 2 bedroom homes increased by 35.6%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 1.9%, and 5+ bedroom homes increased by 24%.
Median Sold Price Compared To Nearby Cities
Lumberton Township | $310K | $453K | +46.1% |
Medford Lakes | $400K | $510K | +27.5% |
Evesham Township | $363.6K | $420.3K | +15.6% |
Medford | $501K | $550K | +9.8% |
Medford Township | $520K | $550K | +5.8% |
Housing Supply in Medford, NJ
How many homes are available in Medford, NJ?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
92 | 97 | +5.4% |
Summary: The Medford real estate market had 97 homes for sale in May 2024, a 5.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 4 | 4 | 0.0% |
3 Bedrooms | 26 | 29 | +11.5% |
4 Bedrooms | 41 | 47 | +14.6% |
5+ Bedrooms | 20 | 16 | -20.0% |
Summary: The Medford 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 11.5%, 4 bedroom homes increased by 14.6%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
23 | 12 | -47.8% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 12 homes were sold or pending in Medford in May 2024, down by 47.8% month-over-month. Of the 12 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.
Days on Market for Medford, NJ
How long does it take to sell a home in Medford, NJ?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
30 Days | 22 Days | -26.1% |
Summary: Homes in Medford had an average of 22 days on market in May 2024, down by 26.1% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 12 homes were sold in Medford; 83% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.