Is Browns Mills, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Browns Mills is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, Browns Mills has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Browns Mills, NJ

How much do homes in Browns Mills, NJ cost?

Median Sold Price

$305,000

$229/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$30,000(+10.9%)

Key Takeaway

Homes in Browns Mills have sold for 10.9% more than they did a year ago.

Summary: The median home sold price in Browns Mills was $305,000 in October 2024, up 10.9% from last year, and the median price per square foot was $229.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $40K$191.5K
+378.8%
2 $180K$220K
+22.2%
3 $275K$306K
+11.3%
4 $310K$345K
+11.3%
5+ $340K$417K
+22.6%

Summary: Browns Mills housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 378.8%, 2 bedroom homes increased by 22.2%, 3 bedroom homes increased by 11.3%, 4 bedroom homes increased by 11.3%, and 5+ bedroom homes increased by 22.6%.

Housing Supply in Browns Mills, NJ

How many homes are available in Browns Mills, NJ?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
4555+22.2%

Summary: The Browns Mills real estate market had 55 homes for sale in October 2024, a 22.2% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 01
+100.0%
2 56
+20.0%
3 2937
+27.6%
4 89
+12.5%
5+ 32
-33.3%

Summary: The Browns Mills housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 27.6%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes decreased by 33.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
912+33.3%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Browns Mills, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.

Summary: A total of 12 homes were sold or pending in Browns Mills in October 2024, up by 33.3% month-over-month. Of the 12 sold homes, 17% were sold under asking, 17% were sold at asking, and 67% were sold over asking.

Days on Market for Browns Mills, NJ

How long does it take to sell a home in Browns Mills, NJ?

Average Sale Time

Oct 2023Oct 2024CHANGE
24 Days41 Days+71.8%

Summary: Homes in Browns Mills had an average of 41 days on market in Oct 2024, up by 71.8% compared to last year.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 12 homes were sold in Browns Mills; 58% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 8% 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 13 Days Ago

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