$3,551 Closing Credit*
$299,000
1,092 SqFt
4 Beds
•1 Full Bath
Isaac Bahary, Listing Office: Keller Williams Shore Properties
Is Somerdale, 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, Somerdale was a Seller's Market.
Key Takeaway
Somerdale 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 Somerdale, NJ
How much do homes in Somerdale, NJ cost?
Median Sold Price
$320,000
$208/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$42,500(+15.3%)
Key Takeaway
Homes in Somerdale have sold for 15.3% more than they did a year ago.
Summary: The median home sold price in Somerdale was $320,000 in November 2024, up 15.3% from last year, and the median price per square foot was $208.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $90K | $127K | +41.1% |
| 2 Bedrooms | $212.5K | $280K | +31.8% |
| 3 Bedrooms | $262K | $312.5K | +19.3% |
| 4 Bedrooms | $355K | $367.5K | +3.5% |
| 5+ Bedrooms | $470.5K | $395K | -16.0% |
Summary: Somerdale housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 41.1%, 2 bedroom homes increased by 31.8%, 3 bedroom homes increased by 19.3%, 4 bedroom homes increased by 3.5%, and 5+ bedroom homes decreased by 16%.
Median Sold Price Compared To Nearby Cities
| Stratford | $250K | $322.5K | +29.0% |
| Magnolia | $270K | $315K | +16.7% |
| Somerdale | $277.5K | $320K | +15.3% |
Housing Supply in Somerdale, NJ
How many homes are available in Somerdale, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 22 | 24 | +9.1% |
Summary: The Somerdale real estate market had 24 homes for sale in November 2024, a 9.1% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 4 | 4 | 0.0% |
| 3 Bedrooms | 10 | 9 | -10.0% |
| 4 Bedrooms | 5 | 7 | +40.0% |
| 5+ Bedrooms | 1 | 3 | +200.0% |
Summary: The Somerdale housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 10%, 4 bedroom homes increased by 40%, and 5+ bedroom homes increased by 200%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 9 | 4 | -55.6% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Somerdale, you could pay more than the asking price. 75% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in Somerdale in November 2024, down by 55.6% month-over-month. Of the 4 sold homes, 25% were sold under asking, 0% were sold at asking, and 75% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 31 Days | 53 Days | +71.8% |
Summary: Homes in Somerdale had an average of 53 days on market in Nov 2024, up by 71.8% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Somerdale has remained consistent over time.
Summary: During November 2024, 4 homes were sold in Somerdale; 25% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
