Is Belle Mead, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Belle Mead is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, Belle Mead has remained a Seller's Market.

Key Takeaway

Belle Mead is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Belle Mead, NJ

How much do homes in Belle Mead, NJ cost?

Median Sold Price

$930,000

$316/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$57,000(+6.5%)

Key Takeaway

Homes in Belle Mead have sold for 6.5% more than they did a year ago.

Summary: The median home sold price in Belle Mead was $930,000 in October 2024, up 6.5% from last year, and the median price per square foot was $316.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $292.2K-
N/A
2 $430K$545K
+26.7%
3 $610K$630K
+3.3%
4 $907.5K$926K
+2.0%
5+ $1.1M$1.2M
+15.5%

Summary: Belle Mead housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 26.7%, 3 bedroom homes increased by 3.3%, 4 bedroom homes increased by 2%, and 5+ bedroom homes increased by 15.5%.

Median Sold Price Compared To Nearby Cities

Hillsborough
+10.9%
Franklin Township
+10.0%
Belle Mead
+6.5%
Montgomery Township
+6.0%
Skillman
+3.5%

Housing Supply in Belle Mead, NJ

How many homes are available in Belle Mead, NJ?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
5550-9.1%

Summary: The Belle Mead real estate market had 50 homes for sale in October 2024, a 9.1% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 35
+66.7%
3 43
-25.0%
4 3430
-11.8%
5+ 1412
-14.3%

Summary: The Belle Mead housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 66.7%, 3 bedroom homes decreased by 25%, 4 bedroom homes decreased by 11.8%, and 5+ bedroom homes decreased by 14.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1513-13.3%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Belle Mead, you may be able to get a good deal. 46.2% of homes here sold below asking price last month.

Summary: A total of 13 homes were sold or pending in Belle Mead in October 2024, down by 13.3% month-over-month. Of the 13 sold homes, 46% were sold under asking, 15% were sold at asking, and 38% were sold over asking.

Days on Market for Belle Mead, NJ

How long does it take to sell a home in Belle Mead, NJ?

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Belle Mead has remained consistent over time.

Summary: During October 2024, 13 homes were sold in Belle Mead; 15% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 20 Days Ago

Newest Listings in Belle Mead, NJ

Nearby Markets to Belle Mead, NJ

What housing markets are near Belle Mead, NJ?