Is Cinnaminson 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, Cinnaminson Township was a Seller's Market.
Key Takeaway
Cinnaminson Township 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 Cinnaminson Township, NJ
How much do homes in Cinnaminson Township, NJ cost?
Median Sold Price
$390,000
$219/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Cinnaminson Township have sold for 8.3% more than they did a year ago.
Summary: The median home sold price in Cinnaminson Township was $390,000 in May 2024, up 8.3% from last year, and the median price per square foot was $219.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $172.5K | N/A |
| 2 Bedrooms | $224.7K | $250K | +11.2% |
| 3 Bedrooms | $352.5K | $356K | +1.0% |
| 4 Bedrooms | $435K | $485.5K | +11.6% |
| 5+ Bedrooms | $596.2K | $490K | -17.8% |
Summary: Cinnaminson Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 11.2%, 3 bedroom homes increased by 1%, 4 bedroom homes increased by 11.6%, and 5+ bedroom homes decreased by 17.8%.
Median Sold Price Compared To Nearby Cities
| Pennsauken | $232.5K | $260K | +11.8% |
| Pennsauken Township | $261.6K | $285K | +8.9% |
| Cinnaminson Township | $360K | $390K | +8.3% |
| Palmyra | $250K | $261K | +4.4% |
| Riverton | $359.9K | $367.5K | +2.1% |
Housing Supply in Cinnaminson Township, NJ
How many homes are available in Cinnaminson Township, NJ?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 52 | 53 | +1.9% |
Summary: The Cinnaminson Township real estate market had 53 homes for sale in May 2024, a 1.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 8 | 7 | -12.5% |
| 3 Bedrooms | 24 | 25 | +4.2% |
| 4 Bedrooms | 16 | 18 | +12.5% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Cinnaminson Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 12.5%, 3 bedroom homes increased by 4.2%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 13 | 8 | -38.5% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cinnaminson Township, you could pay more than the asking price. 75% of homes here sold above asking price last month.
Summary: A total of 8 homes were sold or pending in Cinnaminson Township in May 2024, down by 38.5% month-over-month. Of the 8 sold homes, 25% were sold under asking, 0% were sold at asking, and 75% were sold over asking.
Days on Market for Cinnaminson Township, NJ
How long does it take to sell a home in Cinnaminson Township, NJ?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 11 Days | 18 Days | +53.2% |
Summary: Homes in Cinnaminson Township had an average of 18 days on market in May 2024, up by 53.2% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Cinnaminson Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 8 homes were sold in Cinnaminson Township; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
