Is Hopewell Township, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Hopewell Township was a Seller's Market.
Housing Prices in Hopewell Township, NJ
How much do homes in Hopewell Township, NJ cost?
Median Sold Price
$620,000
$288/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Hopewell Township was $620,000 in May 2024, up 9.7% from last year, and the median price per square foot was $288.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $84.1K | $552.5K | +556.5% |
2 Bedrooms | $382.5K | $400K | +4.6% |
3 Bedrooms | $480K | $550K | +14.6% |
4 Bedrooms | $740K | $725K | -2.0% |
5+ Bedrooms | $999.5K | $985K | -1.5% |
Summary: Hopewell Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 556.5%, 2 bedroom homes increased by 4.6%, 3 bedroom homes increased by 14.6%, 4 bedroom homes decreased by 2%, and 5+ bedroom homes decreased by 1.5%.
Median Sold Price Compared To Nearby Cities
Hopewell | $510K | $645K | +26.5% |
Hopewell Township | $565K | $620K | +9.7% |
Pennington | $605K | $615.1K | +1.7% |
Titusville | $555K | $530K | -4.5% |
Housing Supply in Hopewell Township, NJ
How many homes are available in Hopewell Township, NJ?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
82 | 98 | +19.5% |
Summary: The Hopewell Township real estate market had 98 homes for sale in May 2024, a 19.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 13 | 13 | 0.0% |
3 Bedrooms | 24 | 35 | +45.8% |
4 Bedrooms | 29 | 28 | -3.4% |
5+ Bedrooms | 16 | 22 | +37.5% |
Summary: The Hopewell Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 45.8%, 4 bedroom homes decreased by 3.4%, and 5+ bedroom homes increased by 37.5%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
13 | 9 | -30.8% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 9 homes were sold or pending in Hopewell Township in May 2024, down by 30.8% month-over-month. Of the 9 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.
Days on Market for Hopewell Township, NJ
How long does it take to sell a home in Hopewell Township, NJ?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
16 Days | 16 Days | +1.7% |
Summary: Homes in Hopewell Township had an average of 16 days on market in May 2024, up by 1.7% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 9 homes were sold in Hopewell Township; 78% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.