$5,225 Closing Credit*
$440,000
1,700 SqFt
3 Beds
•2 Full Baths, 1 Partial
Samuel N Lepore, Listing Office: Keller Williams Realty - Moorestown
Is Medford, 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, Medford has remained a Seller's Market.
Key Takeaway
Medford is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Medford, NJ
How much do homes in Medford, NJ cost?
Median Sold Price
$578,000
$240/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$58,000(+11.2%)
Key Takeaway
Homes in Medford have sold for 11.2% more than they did a year ago.
Summary: The median home sold price in Medford was $578,000 in November 2024, up 11.2% from last year, and the median price per square foot was $240.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $172.5K | $170K | -1.4% |
| 2 Bedrooms | $415.3K | $467.5K | +12.6% |
| 3 Bedrooms | $425K | $463.5K | +9.1% |
| 4 Bedrooms | $584.7K | $670K | +14.6% |
| 5+ Bedrooms | $585K | $845K | +44.4% |
Summary: Medford housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.4%, 2 bedroom homes increased by 12.6%, 3 bedroom homes increased by 9.1%, 4 bedroom homes increased by 14.6%, and 5+ bedroom homes increased by 44.4%.
Median Sold Price Compared To Nearby Cities
| Lumberton Township | $347.5K | $455K | +30.9% |
| Medford Lakes | $440K | $567.5K | +29.0% |
| Medford Township | $520.5K | $580.5K | +11.5% |
| Medford | $520K | $578K | +11.2% |
| Evesham Township | $386.9K | $430K | +11.1% |
Housing Supply in Medford, NJ
How many homes are available in Medford, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 94 | 84 | -10.6% |
Summary: The Medford real estate market had 84 homes for sale in November 2024, a 10.6% decrease 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 | 10 | 7 | -30.0% |
| 3 Bedrooms | 30 | 29 | -3.3% |
| 4 Bedrooms | 44 | 37 | -15.9% |
| 5+ Bedrooms | 10 | 10 | 0.0% |
Summary: The Medford 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 decreased by 30%, 3 bedroom homes decreased by 3.3%, 4 bedroom homes decreased by 15.9%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 29 | 21 | -27.6% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Medford, you could pay more than the asking price. 47.6% of homes here sold above asking price last month.
Summary: A total of 21 homes were sold or pending in Medford in November 2024, down by 27.6% month-over-month. Of the 21 sold homes, 29% were sold under asking, 24% were sold at asking, and 48% were sold over asking.
Days on Market for Medford, NJ
How long does it take to sell a home in Medford, NJ?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 32 Days | 29 Days | -11.7% |
Summary: Homes in Medford had an average of 29 days on market in Nov 2024, down by 11.7% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Medford are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 21 homes were sold in Medford; 62% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
