$4,928 Closing Credit*
$415,000
3 Beds
•2 Full Baths
Listing Office: REALTY EXECUTIVES MOUNTAIN PROP.
Is Vernon Township, 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, Vernon Township has remained a Seller's Market.
Key Takeaway
Vernon Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Vernon Township, NJ
How much do homes in Vernon Township, NJ cost?
Median Sold Price
$328,400
$225/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$36,400(+12.5%)
Key Takeaway
Homes in Vernon Township have sold for 12.5% more than they did a year ago.
Summary: The median home sold price in Vernon Township was $328,400 in October 2024, up 12.5% from last year, and the median price per square foot was $225.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $160K | $167K | +4.4% |
| 2 Bedrooms | $240K | $252K | +5.0% |
| 3 Bedrooms | $329K | $375K | +14.0% |
| 4 Bedrooms | $455K | $490K | +7.7% |
| 5+ Bedrooms | $625K | $435K | -30.4% |
Summary: Vernon Township housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.4%, 2 bedroom homes increased by 5%, 3 bedroom homes increased by 14%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes decreased by 30.4%.
Median Sold Price Compared To Nearby Cities
| Vernon | $229K | $260K | +13.5% |
| Vernon Township | $292K | $328.4K | +12.5% |
| Wantage Township | $392.5K | $435K | +10.8% |
| Highland Lakes | $316.7K | $351K | +10.8% |
Housing Supply in Vernon Township, NJ
How many homes are available in Vernon Township, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 191 | 208 | +8.9% |
Summary: The Vernon Township real estate market had 208 homes for sale in October 2024, a 8.9% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 26 | 24 | -7.7% |
| 2 Bedrooms | 66 | 71 | +7.6% |
| 3 Bedrooms | 70 | 78 | +11.4% |
| 4 Bedrooms | 26 | 32 | +23.1% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Vernon Township housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 7.7%, 2 bedroom homes increased by 7.6%, 3 bedroom homes increased by 11.4%, 4 bedroom homes increased by 23.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 31 | 36 | +16.1% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
22 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Vernon Township, you could pay more than the asking price. 61.1% of homes here sold above asking price last month.
Summary: A total of 36 homes were sold or pending in Vernon Township in October 2024, up by 16.1% month-over-month. Of the 36 sold homes, 33% were sold under asking, 6% were sold at asking, and 61% were sold over asking.
Days on Market for Vernon Township, 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.
Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement.