$3,420 Closing Credit*
$288,000
1,187 SqFt
2 Beds
•1 Full Bath
Barbara G Kyle, Listing Office: Balsley-Losco Realtors
Is Somers Point, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Somers Point has remained a Seller's Market.
Key Takeaway
Somers Point is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Somers Point, NJ
How much do homes in Somers Point, NJ cost?
Median Sold Price
$367,250
$312/sqft
Based on all homes sold in November 2024.
Difference Since Last Month
-$132,650(-26.5%)
Key Takeaway
Homes in Somers Point have sold for 26.5% less than they did a month ago.
Summary: The median home sold price in Somers Point was $367,250 in November 2024, down 26.5% from last month, and the median price per square foot was $312.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $350K | N/A |
| 2 Bedrooms | $427.5K | $250K | -41.5% |
| 3 Bedrooms | $595K | $547.1K | -8.0% |
| 4 Bedrooms | - | $585K | N/A |
| 5+ Bedrooms | - | $330K | N/A |
Summary: Somers Point housing prices by bedroom type for November 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 41.5%, 3 bedroom homes decreased by 8%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in Somers Point, NJ
How many homes are available in Somers Point, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 48 | 49 | +2.1% |
Summary: The Somers Point real estate market had 49 homes for sale in November 2024, a 2.1% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 4 | +100.0% |
| 2 Bedrooms | 12 | 11 | -8.3% |
| 3 Bedrooms | 22 | 20 | -9.1% |
| 4 Bedrooms | 8 | 11 | +37.5% |
| 5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The Somers Point housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 8.3%, 3 bedroom homes decreased by 9.1%, 4 bedroom homes increased by 37.5%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 11 | 10 | -9.1% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Somers Point, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Somers Point in November 2024, down by 9.1% month-over-month. Of the 8 sold homes, 75% were sold under asking, 13% were sold at asking, and 13% were sold over asking.
Days on Market for Somers Point, NJ
How long does it take to sell a home in Somers Point, NJ?
Average Sale Time
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 20 Days | 77 Days | +273.7% |
Summary: Homes in Somers Point had an average of 77 days on market in Nov 2024, up by 273.7% compared to last month.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Somers Point has remained consistent over time.
Summary: During November 2024, 10 homes were sold in Somers Point; 40% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 10% 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.