Is Spotswood, 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, Spotswood was a Buyer's Market.
Housing Prices in Spotswood, NJ
How much do homes in Spotswood, NJ cost?
Median Sold Price
$450,000
$332/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Spotswood was $450,000 in May 2024, up 12.1% from last year, and the median price per square foot was $332.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $140K | $165K | +17.9% |
2 Bedrooms | $310K | $275K | -11.3% |
3 Bedrooms | $419K | $465K | +11.0% |
4 Bedrooms | $475K | $530K | +11.6% |
5+ Bedrooms | $500K | $882.5K | +76.5% |
Summary: Spotswood housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17.9%, 2 bedroom homes decreased by 11.3%, 3 bedroom homes increased by 11%, 4 bedroom homes increased by 11.6%, and 5+ bedroom homes increased by 76.5%.
Median Sold Price Compared To Nearby Cities
East Brunswick Township | $485.5K | $561.8K | +15.7% |
Old Bridge | $500K | $563K | +12.6% |
Spotswood | $401.2K | $450K | +12.1% |
Monroe Township | $416.1K | $464.3K | +11.6% |
Old Bridge Township | $462.5K | $515K | +11.4% |
Housing Supply in Spotswood, NJ
How many homes are available in Spotswood, NJ?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
24 | 25 | +4.2% |
Summary: The Spotswood real estate market had 25 homes for sale in May 2024, a 4.2% 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 | 3 | 3 | 0.0% |
3 Bedrooms | 14 | 15 | +7.1% |
4 Bedrooms | 5 | 6 | +20.0% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Spotswood 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 remained the same, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
4 | 10 | +150.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 10 homes were sold or pending in Spotswood in May 2024, up by 150.0% month-over-month. Of the 10 sold homes, 20% were sold under asking, 10% were sold at asking, and 70% were sold over asking.
Days on Market for Spotswood, NJ
How long does it take to sell a home in Spotswood, NJ?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
24 Days | 35 Days | +46.3% |
Summary: Homes in Spotswood had an average of 35 days on market in May 2024, up by 46.3% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 10 homes were sold in Spotswood; 60% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.