$4,150 Closing Credit*
$349,500
1,752 SqFt
4 Beds
•3 Full Baths
Jack J. Harris, Listing Office: Abundant Realty Group, LLC
Is Somerdale, 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, Somerdale has remained a Seller's Market.
Key Takeaway
Somerdale is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Somerdale, NJ
How much do homes in Somerdale, NJ cost?
Median Sold Price
$320,500
$207/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$52,500(+19.6%)
Key Takeaway
Homes in Somerdale have sold for 19.6% more than they did a year ago.
Summary: The median home sold price in Somerdale was $320,500 in October 2024, up 19.6% from last year, and the median price per square foot was $207.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $90K | $127K | +41.1% |
| 2 Bedrooms | $225K | $280K | +24.4% |
| 3 Bedrooms | $254.3K | $315K | +23.8% |
| 4 Bedrooms | $355K | $367.5K | +3.5% |
| 5+ Bedrooms | $551K | $392.5K | -28.8% |
Summary: Somerdale housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 41.1%, 2 bedroom homes increased by 24.4%, 3 bedroom homes increased by 23.8%, 4 bedroom homes increased by 3.5%, and 5+ bedroom homes decreased by 28.8%.
Median Sold Price Compared To Nearby Cities
| Somerdale | $268K | $320.5K | +19.6% |
| Lawnside | $254K | $300K | +18.1% |
| Magnolia | $270K | $315K | +16.7% |
| Stratford | $278K | $320K | +15.1% |
Housing Supply in Somerdale, NJ
How many homes are available in Somerdale, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 32 | 24 | -25.0% |
Summary: The Somerdale real estate market had 24 homes for sale in October 2024, a 25.0% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 2 | 4 | +100.0% |
| 3 Bedrooms | 17 | 11 | -35.3% |
| 4 Bedrooms | 8 | 4 | -50.0% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Somerdale 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 35.3%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 13 | 9 | -30.8% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Somerdale, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 9 homes were sold or pending in Somerdale in October 2024, down by 30.8% month-over-month. Of the 9 sold homes, 22% were sold under asking, 11% were sold at asking, and 67% were sold over asking.
Days on Market for Somerdale, NJ
How long does it take to sell a home in Somerdale, NJ?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 34 Days | 22 Days | -32.9% |
Summary: Homes in Somerdale had an average of 22 days on market in Oct 2024, down by 32.9% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Somerdale are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 9 homes were sold in Somerdale; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
