Is Colonia, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Colonia has remained a Seller's Market.
Housing Prices in Colonia, NJ
How much do homes in Colonia, NJ cost?
Median Sold Price
$560,000
$353/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Colonia was $560,000 in May 2024, up 14.3% from last year, and the median price per square foot was $353.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $415K | $476.5K | +14.8% |
3 Bedrooms | $475K | $530.5K | +11.7% |
4 Bedrooms | $505K | $570K | +12.9% |
5+ Bedrooms | $659K | $705.5K | +7.1% |
Summary: Colonia housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 14.8%, 3 bedroom homes increased by 11.7%, 4 bedroom homes increased by 12.9%, and 5+ bedroom homes increased by 7.1%.
Median Sold Price Compared To Nearby Cities
Colonia | $490K | $560K | +14.3% |
Iselin | $417.2K | $472.5K | +13.2% |
Woodbridge Township | $425K | $470.2K | +10.7% |
Clark Township | $595K | $649.5K | +9.2% |
Rahway | $423.8K | $450K | +6.2% |
Housing Supply in Colonia, NJ
How many homes are available in Colonia, NJ?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
67 | 89 | +32.8% |
Summary: The Colonia real estate market had 89 homes for sale in May 2024, a 32.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 3 | 4 | +33.3% |
3 Bedrooms | 29 | 37 | +27.6% |
4 Bedrooms | 24 | 32 | +33.3% |
5+ Bedrooms | 11 | 16 | +45.5% |
Summary: The Colonia 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 33.3%, 3 bedroom homes increased by 27.6%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 45.5%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
7 | 16 | +128.6% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 16 homes were sold or pending in Colonia in May 2024, up by 128.6% month-over-month. Of the 16 sold homes, 38% were sold under asking, 6% were sold at asking, and 56% were sold over asking.
Days on Market for Colonia, NJ
How long does it take to sell a home in Colonia, NJ?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
27 Days | 28 Days | +3.9% |
Summary: Homes in Colonia had an average of 28 days on market in May 2024, up by 3.9% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 16 homes were sold in Colonia; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.