$6,234 Closing Credit*
$525,000
2,104 SqFt
4 Beds
•3 Full Baths
Suzanne Burns, Listing Office: Weichert Realtors-Medford
Is Medford, 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, 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
$575,000
$239/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$66,998(+13.2%)
Key Takeaway
Homes in Medford have sold for 13.2% more than they did a year ago.
Summary: The median home sold price in Medford was $575,000 in October 2024, up 13.2% from last year, and the median price per square foot was $239.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $170K | $170K | 0.0% |
| 2 Bedrooms | $407.6K | $445K | +9.2% |
| 3 Bedrooms | $420K | $470K | +11.9% |
| 4 Bedrooms | $577.5K | $651K | +12.7% |
| 5+ Bedrooms | $598.7K | $835K | +39.5% |
Summary: Medford 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 9.2%, 3 bedroom homes increased by 11.9%, 4 bedroom homes increased by 12.7%, and 5+ bedroom homes increased by 39.5%.
Median Sold Price Compared To Nearby Cities
| Lumberton Township | $348.1K | $450K | +29.3% |
| Medford Lakes | $440K | $565K | +28.4% |
| Medford | $508K | $575K | +13.2% |
| Medford Township | $515K | $575.6K | +11.8% |
| Evesham Township | $387.8K | $423.5K | +9.2% |
Housing Supply in Medford, NJ
How many homes are available in Medford, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 98 | 99 | +1.0% |
Summary: The Medford real estate market had 99 homes for sale in October 2024, a 1.0% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 8 | 10 | +25.0% |
| 3 Bedrooms | 31 | 30 | -3.2% |
| 4 Bedrooms | 49 | 48 | -2.0% |
| 5+ Bedrooms | 10 | 11 | +10.0% |
Summary: The Medford 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 25%, 3 bedroom homes decreased by 3.2%, 4 bedroom homes decreased by 2%, and 5+ bedroom homes increased by 10%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 33 | 28 | -15.2% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
16 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Medford, you could pay more than the asking price. 57.1% of homes here sold above asking price last month.
Summary: A total of 28 homes were sold or pending in Medford in October 2024, down by 15.2% month-over-month. Of the 28 sold homes, 25% were sold under asking, 18% were sold at asking, and 57% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 24 Days | 20 Days | -15.9% |
Summary: Homes in Medford had an average of 20 days on market in Oct 2024, down by 15.9% compared to last year.
Breakdown of Home Sale Times
22 Homes Were Sold
Under 30 Days
5 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 October 2024, 28 homes were sold in Medford; 79% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
