Is Trenton, 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, Trenton was a Seller's Market.
Housing Prices in Trenton, NJ
How much do homes in Trenton, NJ cost?
Median Sold Price
$310,000
$227/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Trenton was $310,000 in May 2024, up 27.2% from last year, and the median price per square foot was $227.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $179.9K | $200K | +11.1% |
2 Bedrooms | $216.5K | $280K | +29.3% |
3 Bedrooms | $223.3K | $310.5K | +39.0% |
4 Bedrooms | $287K | $375K | +30.7% |
5+ Bedrooms | $305K | $315K | +3.3% |
Summary: Trenton housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.1%, 2 bedroom homes increased by 29.3%, 3 bedroom homes increased by 39%, 4 bedroom homes increased by 30.7%, and 5+ bedroom homes increased by 3.3%.
Median Sold Price Compared To Nearby Cities
Trenton | $243.7K | $310K | +27.2% |
Ewing Township | $305K | $340K | +11.5% |
Hamilton Township | $344K | $370K | +7.6% |
Lawrence Township | $404K | $434K | +7.4% |
Housing Supply in Trenton, NJ
How many homes are available in Trenton, NJ?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
422 | 455 | +7.8% |
Summary: The Trenton real estate market had 455 homes for sale in May 2024, a 7.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 75 | 90 | +20.0% |
3 Bedrooms | 198 | 213 | +7.6% |
4 Bedrooms | 108 | 112 | +3.7% |
5+ Bedrooms | 39 | 38 | -2.6% |
Summary: The Trenton 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 20%, 3 bedroom homes increased by 7.6%, 4 bedroom homes increased by 3.7%, and 5+ bedroom homes decreased by 2.6%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
86 | 69 | -19.8% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
44 Homes Were Sold
Over Asking
Summary: A total of 69 homes were sold or pending in Trenton in May 2024, down by 19.8% month-over-month. Of the 69 sold homes, 19% were sold under asking, 17% were sold at asking, and 64% were sold over asking.
Days on Market for Trenton, NJ
How long does it take to sell a home in Trenton, NJ?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
22 Days | 35 Days | +57.0% |
Summary: Homes in Trenton had an average of 35 days on market in May 2024, up by 57% compared to last year.
Breakdown of Home Sale Times
50 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During May 2024, 69 homes were sold in Trenton; 72% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.