$5,759 Closing Credit*
$485,000
1,789 SqFt
3 Beds
•2 Full Baths, 1 Partial
Marianne Post, Listing Office: BHHS Fox & Roach-Medford
Is Medford Lakes, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Medford Lakes was a Seller's Market.
Key Takeaway
Medford Lakes is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Medford Lakes, NJ
How much do homes in Medford Lakes, NJ cost?
Median Sold Price
$567,500
$298/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$127,500(+29.0%)
Key Takeaway
Homes in Medford Lakes have sold for 29% more than they did a year ago.
Summary: The median home sold price in Medford Lakes was $567,500 in November 2024, up 29% from last year, and the median price per square foot was $298.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $390K | $392.5K | +0.6% |
| 3 Bedrooms | $422.5K | $507.5K | +20.1% |
| 4 Bedrooms | $482.7K | $633.2K | +31.2% |
| 5+ Bedrooms | $850K | $835K | -1.8% |
Summary: Medford Lakes 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 0.6%, 3 bedroom homes increased by 20.1%, 4 bedroom homes increased by 31.2%, and 5+ bedroom homes decreased by 1.8%.
Median Sold Price Compared To Nearby Cities
| Medford Lakes | $440K | $567.5K | +29.0% |
| Medford Township | $520.5K | $580.5K | +11.5% |
| Medford | $520K | $578K | +11.2% |
Housing Supply in Medford Lakes, NJ
How many homes are available in Medford Lakes, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 13 | 14 | +7.7% |
Summary: The Medford Lakes real estate market had 14 homes for sale in November 2024, a 7.7% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 4 | 4 | 0.0% |
| 4 Bedrooms | 6 | 7 | +16.7% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Medford Lakes housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 2 | 1 | -50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Medford Lakes, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 1 homes were sold or pending in Medford Lakes in November 2024, down by 50.0% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 16 Days | 7 Days | -56.3% |
Summary: Homes in Medford Lakes had an average of 7 days on market in Nov 2024, down by 56.3% compared to last year.
Breakdown of Home Sale Times
1 Home Was 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 November 2024, 1 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.
