Is Silver Ridge Park West, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Silver Ridge Park West is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, Silver Ridge Park West has remained a Seller's Market.

Key Takeaway

Silver Ridge Park West is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Silver Ridge Park West, NJ

How much do homes in Silver Ridge Park West, NJ cost?

Median Sold Price

$305,000

$238/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$30,000(+10.9%)

Key Takeaway

Homes in Silver Ridge Park West have sold for 10.9% more than they did a year ago.

Summary: The median home sold price in Silver Ridge Park West was $305,000 in October 2024, up 10.9% from last year, and the median price per square foot was $238.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $274.9K$305K
+10.9%
3 -$385K
N/A
4 --
N/A
5+ --
N/A

Summary: Silver Ridge Park West 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 10.9%, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Neighborhoods

Holiday City at Berkeley
+17.9%
Silver Ridge Park West
+10.9%
Silver Ridge Park
+7.1%
Holiday City
+5.0%
Holiday City South
-1.0%

Housing Supply in Silver Ridge Park West, NJ

How many homes are available in Silver Ridge Park West, NJ?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
2330+30.4%

Summary: The Silver Ridge Park West real estate market had 30 homes for sale in October 2024, a 30.4% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 2330
+30.4%
3 00
0.0%
4 00
0.0%
5+ 00
0.0%

Summary: The Silver Ridge Park West 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 30.4%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
69+50.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Silver Ridge Park West, you may be able to get a good deal. 44.4% of homes here sold below asking price last month.

Summary: A total of 9 homes were sold or pending in Silver Ridge Park West in October 2024, up by 50.0% month-over-month. Of the 9 sold homes, 44% were sold under asking, 22% were sold at asking, and 33% were sold over asking.

Days on Market for Silver Ridge Park West, NJ

How long does it take to sell a home in Silver Ridge Park West, NJ?

Average Sale Time

Oct 2023Oct 2024CHANGE
36 Days46 Days+27.8%

Summary: Homes in Silver Ridge Park West had an average of 46 days on market in Oct 2024, up by 27.8% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Silver Ridge Park West are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 9 homes were sold in Silver Ridge Park West; 56% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 20 Days Ago

Newest Listings in Silver Ridge Park West, NJ

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