Is New Egypt, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, New Egypt has remained a Buyer's Market.
Key Takeaway
New Egypt is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in New Egypt, NJ
How much do homes in New Egypt, NJ cost?
Median Sold Price
$449,990
$229/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in New Egypt have sold for 5.9% more than they did a year ago.
Summary: The median home sold price in New Egypt was $449,990 in May 2024, up 5.9% from last year, and the median price per square foot was $229.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $127.5K | $150K | +17.6% |
| 2 Bedrooms | $236.2K | $330K | +39.7% |
| 3 Bedrooms | $405K | $429.9K | +6.2% |
| 4 Bedrooms | $575K | $670K | +16.5% |
| 5+ Bedrooms | $535K | $825K | +54.2% |
Summary: New Egypt housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17.6%, 2 bedroom homes increased by 39.7%, 3 bedroom homes increased by 6.2%, 4 bedroom homes increased by 16.5%, and 5+ bedroom homes increased by 54.2%.
Median Sold Price Compared To Nearby Cities
| New Egypt | $425K | $449.9K | +5.9% |
| Plumsted Township | $425K | $449.9K | +5.9% |
| Cream Ridge | $585K | $597.5K | +2.1% |
Housing Supply in New Egypt, NJ
How many homes are available in New Egypt, NJ?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 43 | 50 | +16.3% |
Summary: The New Egypt real estate market had 50 homes for sale in May 2024, a 16.3% 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 | 6 | 3 | -50.0% |
| 3 Bedrooms | 14 | 21 | +50.0% |
| 4 Bedrooms | 19 | 21 | +10.5% |
| 5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The New Egypt 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 decreased by 50%, 3 bedroom homes increased by 50%, 4 bedroom homes increased by 10.5%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 12 | 6 | -50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
3 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in New Egypt, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 6 homes were sold or pending in New Egypt in May 2024, down by 50.0% month-over-month. Of the 6 sold homes, 17% were sold under asking, 50% were sold at asking, and 33% were sold over asking.
Days on Market for New Egypt, NJ
How long does it take to sell a home in New Egypt, NJ?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 25 Days | 20 Days | -18.9% |
Summary: Homes in New Egypt had an average of 20 days on market in May 2024, down by 18.9% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in New Egypt are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 6 homes were sold in New Egypt; 83% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 0% 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.