Is Wayne Township, 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, Wayne Township has remained a Seller's Market.
Key Takeaway
Wayne Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Wayne Township, NJ
How much do homes in Wayne Township, NJ cost?
Median Sold Price
$635,000
$215/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Wayne Township have sold for 5.2% more than they did a year ago.
Summary: The median home sold price in Wayne Township was $635,000 in May 2024, up 5.2% from last year, and the median price per square foot was $215.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $250K | $273K | +9.2% |
| 2 Bedrooms | $420K | $461K | +9.8% |
| 3 Bedrooms | $575K | $605K | +5.2% |
| 4 Bedrooms | $700.9K | $734.5K | +4.8% |
| 5+ Bedrooms | $775K | $950K | +22.6% |
Summary: Wayne Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.2%, 2 bedroom homes increased by 9.8%, 3 bedroom homes increased by 5.2%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes increased by 22.6%.
Median Sold Price Compared To Nearby Cities
| Pequannock Township | $510K | $560K | +9.8% |
| Lincoln Park | $417.5K | $440K | +5.4% |
| Wayne Township | $603.3K | $635K | +5.2% |
| Wayne | $603.8K | $635K | +5.2% |
Housing Supply in Wayne Township, NJ
How many homes are available in Wayne Township, NJ?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 141 | 189 | +34.0% |
Summary: The Wayne Township real estate market had 189 homes for sale in May 2024, a 34.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 9 | 8 | -11.1% |
| 2 Bedrooms | 13 | 22 | +69.2% |
| 3 Bedrooms | 58 | 66 | +13.8% |
| 4 Bedrooms | 42 | 68 | +61.9% |
| 5+ Bedrooms | 19 | 25 | +31.6% |
Summary: The Wayne Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 11.1%, 2 bedroom homes increased by 69.2%, 3 bedroom homes increased by 13.8%, 4 bedroom homes increased by 61.9%, and 5+ bedroom homes increased by 31.6%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 27 | 35 | +29.6% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
28 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Wayne Township, you could pay more than the asking price. 80% of homes here sold above asking price last month.
Summary: A total of 35 homes were sold or pending in Wayne Township in May 2024, up by 29.6% month-over-month. Of the 35 sold homes, 20% were sold under asking, 0% were sold at asking, and 80% were sold over asking.
Days on Market for Wayne Township, NJ
We’re sorry, we don't have information for this market at the moment
