$215,000
0.68 Acres
Land
Shawn Warman, Listing Office: Realty Mark Advantage
Is Hopewell Township, 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, Hopewell Township has remained a Seller's Market.
Key Takeaway
Hopewell Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Hopewell Township, NJ
How much do homes in Hopewell Township, NJ cost?
Median Sold Price
$627,500
$290/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$11,666(+1.9%)
Key Takeaway
Homes in Hopewell Township have sold for 1.9% more than they did a year ago.
Summary: The median home sold price in Hopewell Township was $627,500 in October 2024, up 1.9% from last year, and the median price per square foot was $290.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $325K | $840K | +158.5% |
| 2 Bedrooms | $385K | $465K | +20.8% |
| 3 Bedrooms | $500K | $540K | +8.0% |
| 4 Bedrooms | $759K | $785K | +3.4% |
| 5+ Bedrooms | $950K | $1.0M | +7.9% |
Summary: Hopewell Township housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 158.5%, 2 bedroom homes increased by 20.8%, 3 bedroom homes increased by 8%, 4 bedroom homes increased by 3.4%, and 5+ bedroom homes increased by 7.9%.
Median Sold Price Compared To Nearby Cities
| Hopewell | $625K | $644K | +3.0% |
| Hopewell Township | $615.8K | $627.5K | +1.9% |
| Pennington | $615K | $600K | -2.4% |
| West Amwell Township | $705K | $582.5K | -17.4% |
Housing Supply in Hopewell Township, NJ
How many homes are available in Hopewell Township, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 82 | 92 | +12.2% |
Summary: The Hopewell Township real estate market had 92 homes for sale in October 2024, a 12.2% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 7 | 8 | +14.3% |
| 3 Bedrooms | 28 | 34 | +21.4% |
| 4 Bedrooms | 33 | 34 | +3.0% |
| 5+ Bedrooms | 13 | 15 | +15.4% |
Summary: The Hopewell 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 increased by 14.3%, 3 bedroom homes increased by 21.4%, 4 bedroom homes increased by 3%, and 5+ bedroom homes increased by 15.4%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 19 | 16 | -15.8% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Hopewell Township, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 16 homes were sold or pending in Hopewell Township in October 2024, down by 15.8% month-over-month. Of the 16 sold homes, 31% were sold under asking, 19% were sold at asking, and 50% were sold over asking.
Days on Market for Hopewell Township, NJ
How long does it take to sell a home in Hopewell Township, NJ?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 42 Days | 28 Days | -32.6% |
Summary: Homes in Hopewell Township had an average of 28 days on market in Oct 2024, down by 32.6% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Hopewell Township are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 16 homes were sold in Hopewell Township; 75% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
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The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Monmouth/Ocean MLS Monmouth County Association Board of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright © 2024 Monmouth/Ocean MLS Monmouth County Association Board of Realtors. All Rights Reserved.