$3,545 Closing Credit*
$298,500
1,320 SqFt
4 Beds
•2 Full Baths
Laura D Castellucci, Listing Office: HomeSmart First Advantage Realty
Is Magnolia, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Magnolia has remained a Seller's Market.
Key Takeaway
Magnolia is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Magnolia, NJ
How much do homes in Magnolia, NJ cost?
Median Sold Price
$315,000
$241/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$45,000(+16.7%)
Key Takeaway
Homes in Magnolia have sold for 16.7% more than they did a year ago.
Summary: The median home sold price in Magnolia was $315,000 in November 2024, up 16.7% from last year, and the median price per square foot was $241.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $237.5K | N/A |
| 2 Bedrooms | $272.5K | $298.5K | +9.5% |
| 3 Bedrooms | $257.5K | $315K | +22.3% |
| 4 Bedrooms | $315K | $340K | +7.9% |
| 5+ Bedrooms | - | $346.5K | N/A |
Summary: Magnolia 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 increased by 9.5%, 3 bedroom homes increased by 22.3%, 4 bedroom homes increased by 7.9%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Magnolia | $270K | $315K | +16.7% |
| Somerdale | $277.5K | $320K | +15.3% |
| Barrington | $335K | $365K | +9.0% |
| Runnemede | $280K | $295.5K | +5.5% |
Housing Supply in Magnolia, NJ
How many homes are available in Magnolia, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 15 | 16 | +6.7% |
Summary: The Magnolia real estate market had 16 homes for sale in November 2024, a 6.7% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 11 | 10 | -9.1% |
| 4 Bedrooms | 3 | 4 | +33.3% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Magnolia housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 9.1%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 3 | 6 | +100.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Magnolia, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 6 homes were sold or pending in Magnolia in November 2024, up by 100.0% month-over-month. Of the 6 sold homes, 0% were sold under asking, 33% were sold at asking, and 67% were sold over asking.
Days on Market for Magnolia, NJ
How long does it take to sell a home in Magnolia, NJ?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 7 Days | 13 Days | +79.5% |
Summary: Homes in Magnolia had an average of 13 days on market in Nov 2024, up by 79.5% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Magnolia are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 6 homes were sold in Magnolia; 83% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
