$6,519 Closing Credit*
$549,000
4 Beds
•2 Full Baths, 1 Partial
Magaly S. Lopez, Listing Office: Addison Real Estate
Is Dover, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Dover has remained a Seller's Market.
Key Takeaway
Dover is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Dover, NJ
How much do homes in Dover, NJ cost?
Median Sold Price
$450,000
$258/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$50,000(+12.5%)
Key Takeaway
Homes in Dover have sold for 12.5% more than they did a year ago.
Summary: The median home sold price in Dover was $450,000 in October 2024, up 12.5% from last year, and the median price per square foot was $258.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $234K | $270K | +15.4% |
| 2 Bedrooms | $279.9K | $347K | +24.0% |
| 3 Bedrooms | $400K | $450K | +12.5% |
| 4 Bedrooms | $495.5K | $520K | +4.9% |
| 5+ Bedrooms | $547.5K | $595K | +8.7% |
Summary: Dover housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.4%, 2 bedroom homes increased by 24%, 3 bedroom homes increased by 12.5%, 4 bedroom homes increased by 4.9%, and 5+ bedroom homes increased by 8.7%.
Median Sold Price Compared To Nearby Cities
| Wharton | $410K | $470K | +14.6% |
| Dover | $400K | $450K | +12.5% |
| Randolph | $699.5K | $750K | +7.2% |
Housing Supply in Dover, NJ
How many homes are available in Dover, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 36 | 49 | +36.1% |
Summary: The Dover real estate market had 49 homes for sale in October 2024, a 36.1% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 4 | +33.3% |
| 2 Bedrooms | 4 | 4 | 0.0% |
| 3 Bedrooms | 15 | 21 | +40.0% |
| 4 Bedrooms | 7 | 13 | +85.7% |
| 5+ Bedrooms | 7 | 7 | 0.0% |
Summary: The Dover housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes remained the same, 3 bedroom homes increased by 40%, 4 bedroom homes increased by 85.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 7 | 11 | +57.1% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Dover, you could pay more than the asking price. 45.5% of homes here sold above asking price last month.
Summary: A total of 11 homes were sold or pending in Dover in October 2024, up by 57.1% month-over-month. Of the 11 sold homes, 36% were sold under asking, 18% were sold at asking, and 45% were sold over asking.
Days on Market for Dover, NJ
We’re sorry, we don't have information for this market at the moment
