$4,453 Closing Credit*
$375,000
1,350 SqFt
3 Beds
•2 Full Baths
Listing Office: REALTY ONE GROUP LEGEND
Is Penns Grove, 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, Penns Grove has remained a Buyer's Market.
Key Takeaway
Penns Grove is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Penns Grove, NJ
How much do homes in Penns Grove, NJ cost?
Median Sold Price
$215,000
$173/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$15,000(+7.5%)
Key Takeaway
Homes in Penns Grove have sold for 7.5% more than they did a year ago.
Summary: The median home sold price in Penns Grove was $215,000 in October 2024, up 7.5% from last year, and the median price per square foot was $173.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $126K | $122K | -3.2% |
| 2 Bedrooms | $138.5K | $179K | +29.2% |
| 3 Bedrooms | $207K | $227.4K | +9.9% |
| 4 Bedrooms | $250K | $234K | -6.4% |
| 5+ Bedrooms | $178.2K | $280K | +57.1% |
Summary: Penns Grove housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.2%, 2 bedroom homes increased by 29.2%, 3 bedroom homes increased by 9.9%, 4 bedroom homes decreased by 6.4%, and 5+ bedroom homes increased by 57.1%.
Median Sold Price Compared To Nearby Cities
| Penns Grove | $200K | $215K | +7.5% |
| Wilmington | $299.1K | $321.3K | +7.4% |
| Carneys Point Township | $215K | $225K | +4.7% |
Housing Supply in Penns Grove, NJ
How many homes are available in Penns Grove, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 49 | 55 | +12.2% |
Summary: The Penns Grove real estate market had 55 homes for sale in October 2024, a 12.2% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 10 | 9 | -10.0% |
| 3 Bedrooms | 27 | 31 | +14.8% |
| 4 Bedrooms | 6 | 10 | +66.7% |
| 5+ Bedrooms | 6 | 4 | -33.3% |
Summary: The Penns Grove housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 10%, 3 bedroom homes increased by 14.8%, 4 bedroom homes increased by 66.7%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 14 | 6 | -57.1% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Penns Grove, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 6 homes were sold or pending in Penns Grove in October 2024, down by 57.1% month-over-month. Of the 6 sold homes, 33% were sold under asking, 50% were sold at asking, and 17% were sold over asking.
Days on Market for Penns Grove, NJ
How long does it take to sell a home in Penns Grove, NJ?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 48 Days | 37 Days | -21.5% |
Summary: Homes in Penns Grove had an average of 37 days on market in Oct 2024, down by 21.5% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Penns Grove has remained consistent over time.
Summary: During October 2024, 6 homes were sold in Penns Grove; 33% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Disclaimer: The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the South Jersey Shore Regional (SJSR) MLS. Real estate listings held by brokerage firms are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. © 2024 SJSR MLS. All rights reserved.