Is East Greenwich 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, East Greenwich Township was a Seller's Market.
Key Takeaway
East Greenwich Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in East Greenwich Township, NJ
How much do homes in East Greenwich Township, NJ cost?
Median Sold Price
$400,495
$195/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in East Greenwich Township have sold for 5.8% more than they did a year ago.
Summary: The median home sold price in East Greenwich Township was $400,495 in May 2024, up 5.8% from last year, and the median price per square foot was $195.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $315K | $377.7K | +19.9% |
| 3 Bedrooms | $366.4K | $371.9K | +1.5% |
| 4 Bedrooms | $430.5K | $554.9K | +28.9% |
| 5+ Bedrooms | $705K | $646.2K | -8.3% |
Summary: East Greenwich 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 19.9%, 3 bedroom homes increased by 1.5%, 4 bedroom homes increased by 28.9%, and 5+ bedroom homes decreased by 8.3%.
Median Sold Price Compared To Nearby Cities
| Mickleton | $394K | $550K | +39.6% |
| Paulsboro | $169.4K | $205K | +21.0% |
| East Greenwich Township | $378.5K | $400.4K | +5.8% |
| Mount Royal | $340K | $358K | +5.3% |
| Clarksboro | $395K | $387K | -2.0% |
Housing Supply in East Greenwich Township, NJ
How many homes are available in East Greenwich Township, NJ?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 31 | 42 | +35.5% |
Summary: The East Greenwich Township real estate market had 42 homes for sale in May 2024, a 35.5% 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 | 2 | 4 | +100.0% |
| 3 Bedrooms | 12 | 15 | +25.0% |
| 4 Bedrooms | 12 | 17 | +41.7% |
| 5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The East Greenwich 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 increased by 100%, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 41.7%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 6 | 4 | -33.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in East Greenwich Township, you could pay more than the asking price. 75% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in East Greenwich Township in May 2024, down by 33.3% month-over-month. Of the 4 sold homes, 25% were sold under asking, 0% were sold at asking, and 75% were sold over asking.
Days on Market for East Greenwich Township, NJ
How long does it take to sell a home in East Greenwich Township, NJ?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 26 Days | 37 Days | +44.3% |
Summary: Homes in East Greenwich Township had an average of 37 days on market in May 2024, up by 44.3% 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 East Greenwich Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 4 homes were sold in East Greenwich Township; 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.
