Is Bernards Township, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Bernards Township is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, Bernards Township has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Bernards Township, NJ

How much do homes in Bernards Township, NJ cost?

Median Sold Price

$805,750

$324/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$66,333(+9.0%)

Key Takeaway

Homes in Bernards Township have sold for 9% more than they did a year ago.

Summary: The median home sold price in Bernards Township was $805,750 in October 2024, up 9% from last year, and the median price per square foot was $324.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $292.5K$319K
+9.1%
2 $406K$485K
+19.5%
3 $682.5K$775K
+13.6%
4 $998K$1.1M
+19.2%
5+ $1.4M$1.5M
+8.2%

Summary: Bernards Township housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.1%, 2 bedroom homes increased by 19.5%, 3 bedroom homes increased by 13.6%, 4 bedroom homes increased by 19.2%, and 5+ bedroom homes increased by 8.2%.

Median Sold Price Compared To Nearby Cities

Warren Township
+14.0%
Long Hill Township
+13.9%
Basking Ridge
+10.2%
Bernards Township
+9.0%

Housing Supply in Bernards Township, NJ

How many homes are available in Bernards Township, NJ?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
1011010.0%

Summary: The Bernards Township real estate market had 101 homes for sale in October 2024, the same as September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 22
0.0%
2 2524
-4.0%
3 2525
0.0%
4 3125
-19.4%
5+ 1825
+38.9%

Summary: The Bernards Township 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 decreased by 4%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 19.4%, and 5+ bedroom homes increased by 38.9%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
32320.0%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

24 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Bernards Township, you could pay more than the asking price. 75% of homes here sold above asking price last month.

Summary: A total of 32 homes were sold or pending in Bernards Township in October 2024, the same as the previous month. Of the 32 sold homes, 19% were sold under asking, 6% were sold at asking, and 75% were sold over asking.

Days on Market for Bernards Township, NJ

How long does it take to sell a home in Bernards Township, NJ?

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Bernards Township are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 32 homes were sold in Bernards Township; 3% of homes were sold within 30 days, 0% 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 23 Days Ago

Newest Listings in Bernards Township, NJ

Nearby Markets to Bernards Township, NJ

What housing markets are near Bernards Township, NJ?