$3,797 Closing Credit*
$319,777
1,248 SqFt
4 Beds
•1 Full Bath
Ariana Marie Dorrego, Listing Office: HOF Realty
Is Magnolia, 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, 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 October 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 October 2024, up 16.7% from last year, and the median price per square foot was $241.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $237.5K | N/A |
| 2 Bedrooms | $275K | $298.5K | +8.5% |
| 3 Bedrooms | $255K | $310K | +21.6% |
| 4 Bedrooms | $284K | $345K | +21.5% |
| 5+ Bedrooms | - | $346.5K | N/A |
Summary: Magnolia housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 8.5%, 3 bedroom homes increased by 21.6%, 4 bedroom homes increased by 21.5%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Somerdale | $268K | $320.5K | +19.6% |
| Lawnside | $254K | $300K | +18.1% |
| Magnolia | $270K | $315K | +16.7% |
| Barrington | $330K | $365K | +10.6% |
| Runnemede | $280K | $285K | +1.8% |
Housing Supply in Magnolia, NJ
How many homes are available in Magnolia, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 13 | 15 | +15.4% |
Summary: The Magnolia real estate market had 15 homes for sale in October 2024, a 15.4% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 9 | 12 | +33.3% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Magnolia housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 2 | 3 | +50.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 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 3 homes were sold or pending in Magnolia in October 2024, up by 50.0% month-over-month. Of the 3 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 13 Days | 6 Days | -50.9% |
Summary: Homes in Magnolia had an average of 6 days on market in Oct 2024, down by 50.9% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were 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 October 2024, 3 homes were sold in Magnolia; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
