$4,156 Closing Credit*
$350,000
880 SqFt
4 Beds
•1 Full Bath
Valerie Bertsch, Listing Office: Compass New Jersey, LLC - Moorestown
Is Medford Lakes, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Medford Lakes was a Seller's Market.
Key Takeaway
Medford Lakes is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Medford Lakes, NJ
How much do homes in Medford Lakes, NJ cost?
Median Sold Price
$565,000
$296/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$125,000(+28.4%)
Key Takeaway
Homes in Medford Lakes have sold for 28.4% more than they did a year ago.
Summary: The median home sold price in Medford Lakes was $565,000 in October 2024, up 28.4% from last year, and the median price per square foot was $296.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $390K | $392.5K | +0.6% |
| 3 Bedrooms | $420K | $480K | +14.3% |
| 4 Bedrooms | $514K | $633.2K | +23.2% |
| 5+ Bedrooms | $616K | $835K | +35.6% |
Summary: Medford Lakes 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 0.6%, 3 bedroom homes increased by 14.3%, 4 bedroom homes increased by 23.2%, and 5+ bedroom homes increased by 35.6%.
Median Sold Price Compared To Nearby Cities
| Medford Lakes | $440K | $565K | +28.4% |
| Medford | $508K | $575K | +13.2% |
| Medford Township | $515K | $575.6K | +11.8% |
Housing Supply in Medford Lakes, NJ
How many homes are available in Medford Lakes, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 10 | 14 | +40.0% |
Summary: The Medford Lakes real estate market had 14 homes for sale in October 2024, a 40.0% 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 | 0 | 1 | +100.0% |
| 3 Bedrooms | 6 | 4 | -33.3% |
| 4 Bedrooms | 2 | 7 | +250.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Medford Lakes 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 100%, 3 bedroom homes decreased by 33.3%, 4 bedroom homes increased by 250%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 5 | 2 | -60.0% |
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 Medford Lakes, 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 Medford Lakes in October 2024, down by 60.0% 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 Medford Lakes, NJ
How long does it take to sell a home in Medford Lakes, NJ?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 12 Days | 8 Days | -35.5% |
Summary: Homes in Medford Lakes had an average of 8 days on market in Oct 2024, down by 35.5% compared to last year.
Breakdown of Home Sale Times
2 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 Medford Lakes are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 2 homes were sold in Medford Lakes; 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.
