Is Cream Ridge, 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, Cream Ridge was a Seller's Market.
Key Takeaway
Cream Ridge is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Cream Ridge, NJ
How much do homes in Cream Ridge, NJ cost?
Median Sold Price
$597,500
$263/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Cream Ridge have sold for 2.1% more than they did a year ago.
Summary: The median home sold price in Cream Ridge was $597,500 in May 2024, up 2.1% from last year, and the median price per square foot was $263.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $61.7K | $62.5K | +1.2% |
| 2 Bedrooms | $359K | $345.5K | -3.8% |
| 3 Bedrooms | $471.2K | $485K | +2.9% |
| 4 Bedrooms | $800K | $725K | -9.4% |
| 5+ Bedrooms | $925K | $1.1M | +24.3% |
Summary: Cream Ridge housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.2%, 2 bedroom homes decreased by 3.8%, 3 bedroom homes increased by 2.9%, 4 bedroom homes decreased by 9.4%, and 5+ bedroom homes increased by 24.3%.
Median Sold Price Compared To Nearby Cities
| Millstone Township | $760K | $885.4K | +16.5% |
| Plumsted Township | $425K | $449.9K | +5.9% |
| New Egypt | $425K | $449.9K | +5.9% |
| Upper Freehold Township | $685K | $720K | +5.1% |
| Cream Ridge | $585K | $597.5K | +2.1% |
Housing Supply in Cream Ridge, NJ
How many homes are available in Cream Ridge, NJ?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 23 | 35 | +52.2% |
Summary: The Cream Ridge real estate market had 35 homes for sale in May 2024, a 52.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 5 | +66.7% |
| 2 Bedrooms | 0 | 1 | +100.0% |
| 3 Bedrooms | 7 | 9 | +28.6% |
| 4 Bedrooms | 10 | 13 | +30.0% |
| 5+ Bedrooms | 3 | 7 | +133.3% |
Summary: The Cream Ridge housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 66.7%, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 28.6%, 4 bedroom homes increased by 30%, and 5+ bedroom homes increased by 133.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 3 | 4 | +33.3% |
Asking Price vs. Sold Price
2 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 Cream Ridge, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Cream Ridge in May 2024, up by 33.3% month-over-month. Of the 4 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.
Days on Market for Cream Ridge, NJ
How long does it take to sell a home in Cream Ridge, NJ?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 101 Days | 37 Days | -63.3% |
Summary: Homes in Cream Ridge had an average of 37 days on market in May 2024, down by 63.3% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Cream Ridge are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 4 homes were sold in Cream Ridge; 75% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
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.
The data relating to real estate for sale on this web-site comes in part from the Internet Listing Display database of the CENTRAL JERSEY MULTIPLE LISTING SYSTEM. Real estate listings held by brokerage firms other than this site-owner are marked with the ILD logo. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM does not warrant the accuracy, quality, reliability, suitability, completeness, usefulness or effectiveness of any information provided. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify properties the consumer may be interested in purchasing or renting. Copyright 2024, CENTRAL JERSEY MULTIPLE LISTING SYSTEM. All Rights Reserved. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM retains all rights, title and interest in and to its trademarks, service marks and copyrighted material.