$3,438 Closing Credit*
$289,500
1,368 SqFt
2 Beds
•2 Full Baths
Kimberlee Anne McClellan, Listing Office: Ai Brokers LLC
Is Vernon, 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, Vernon was a Seller's Market.
Key Takeaway
Vernon is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Vernon, NJ
How much do homes in Vernon, NJ cost?
Median Sold Price
$262,500
$225/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$32,500(+14.1%)
Key Takeaway
Homes in Vernon have sold for 14.1% more than they did a year ago.
Summary: The median home sold price in Vernon was $262,500 in November 2024, up 14.1% from last year, and the median price per square foot was $225.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $160K | $165K | +3.1% |
| 2 Bedrooms | $227K | $243.5K | +7.3% |
| 3 Bedrooms | $284K | $340K | +19.7% |
| 4 Bedrooms | $398.2K | $446K | +12.0% |
| 5+ Bedrooms | $650K | $425K | -34.6% |
Summary: Vernon housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.1%, 2 bedroom homes increased by 7.3%, 3 bedroom homes increased by 19.7%, 4 bedroom homes increased by 12%, and 5+ bedroom homes decreased by 34.6%.
Median Sold Price Compared To Nearby Cities
| Highland Lakes | $324.5K | $375K | +15.6% |
| Glenwood | $350K | $400K | +14.3% |
| Vernon | $230K | $262.5K | +14.1% |
| Vernon Township | $295K | $330.8K | +12.1% |
| Hardyston Township | $366.7K | $392.4K | +7.0% |
Housing Supply in Vernon, NJ
How many homes are available in Vernon, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 92 | 95 | +3.3% |
Summary: The Vernon real estate market had 95 homes for sale in November 2024, a 3.3% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 21 | 22 | +4.8% |
| 2 Bedrooms | 39 | 40 | +2.6% |
| 3 Bedrooms | 25 | 27 | +8.0% |
| 4 Bedrooms | 6 | 6 | 0.0% |
| 5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The Vernon housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 4.8%, 2 bedroom homes increased by 2.6%, 3 bedroom homes increased by 8%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 16 | 11 | -31.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Vernon, you could pay more than the asking price. 54.5% of homes here sold above asking price last month.
Summary: A total of 11 homes were sold or pending in Vernon in November 2024, down by 31.3% month-over-month. Of the 11 sold homes, 27% were sold under asking, 18% were sold at asking, and 55% were sold over asking.
Days on Market for Vernon, NJ
We’re sorry, we don't have information for this market at the moment
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Monmouth/Ocean MLS Monmouth County Association Board of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright © 2024 Monmouth/Ocean MLS Monmouth County Association Board of Realtors. All Rights Reserved.