$25,000
Land
Michelle Urgo, Listing Office: Coldwell Banker Excel Realty
Is Lawrence Township, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Lawrence Township was a Seller's Market.
Key Takeaway
Lawrence Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Lawrence Township, NJ
How much do homes in Lawrence Township, NJ cost?
Median Sold Price
$255,250
$189/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$12,800(+5.3%)
Key Takeaway
Homes in Lawrence Township have sold for 5.3% more than they did a year ago.
Summary: The median home sold price in Lawrence Township was $255,250 in November 2024, up 5.3% from last year, and the median price per square foot was $189.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $133K | N/A |
| 2 Bedrooms | $128.4K | $125K | -2.7% |
| 3 Bedrooms | $225K | $287.5K | +27.8% |
| 4 Bedrooms | $289.9K | $289K | -0.3% |
| 5+ Bedrooms | $290K | $250K | -13.8% |
Summary: Lawrence Township housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 2.7%, 3 bedroom homes increased by 27.8%, 4 bedroom homes decreased by 0.3%, and 5+ bedroom homes decreased by 13.8%.
Median Sold Price Compared To Nearby Cities
| Cedarville | $177.5K | $251.5K | +41.7% |
| Fairfield Township | $560K | $615K | +9.8% |
| Lawrence Township | $242.4K | $255.2K | +5.3% |
| Downe Township | $212K | $159.9K | -24.6% |
Housing Supply in Lawrence Township, NJ
How many homes are available in Lawrence Township, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 18 | 18 | 0.0% |
Summary: The Lawrence Township real estate market had 18 homes for sale in November 2024, the same as October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 14 | 13 | -7.1% |
| 4 Bedrooms | 1 | 2 | +100.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Lawrence Township housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 7.1%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 4 | 2 | -50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Lawrence Township, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Lawrence Township in November 2024, down by 50.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Lawrence Township, NJ
How long does it take to sell a home in Lawrence Township, NJ?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 29 Days | 23 Days | -20.7% |
Summary: Homes in Lawrence Township had an average of 23 days on market in Nov 2024, down by 20.7% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lawrence Township are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 2 homes were sold in Lawrence Township; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
