Is Raritan Township, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Raritan Township has remained a Seller's Market.
Key Takeaway
Raritan Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Raritan Township, NJ
How much do homes in Raritan Township, NJ cost?
Median Sold Price
$517,916
$259/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Raritan Township have sold for 5.4% more than they did a year ago.
Summary: The median home sold price in Raritan Township was $517,916 in April 2024, up 5.4% from last year, and the median price per square foot was $259.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $212.5K | $245K | +15.3% |
| 2 Bedrooms | $330K | $403.5K | +22.3% |
| 3 Bedrooms | $435K | $503K | +15.6% |
| 4 Bedrooms | $692.5K | $745K | +7.6% |
| 5+ Bedrooms | $760K | $895K | +17.8% |
Summary: Raritan Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.3%, 2 bedroom homes increased by 22.3%, 3 bedroom homes increased by 15.6%, 4 bedroom homes increased by 7.6%, and 5+ bedroom homes increased by 17.8%.
Median Sold Price Compared To Nearby Cities
| East Amwell Township | $575K | $675K | +17.4% |
| Raritan Township | $491.2K | $517.9K | +5.4% |
| Flemington | $497.5K | $515K | +3.5% |
Housing Supply in Raritan Township, NJ
How many homes are available in Raritan Township, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 82 | 99 | +20.7% |
Summary: The Raritan Township real estate market had 99 homes for sale in April 2024, a 20.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 4 | +33.3% |
| 2 Bedrooms | 20 | 21 | +5.0% |
| 3 Bedrooms | 16 | 20 | +25.0% |
| 4 Bedrooms | 37 | 45 | +21.6% |
| 5+ Bedrooms | 6 | 9 | +50.0% |
Summary: The Raritan Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 5%, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 21.6%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 17 | 19 | +11.8% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Raritan Township, you could pay more than the asking price. 68.4% of homes here sold above asking price last month.
Summary: A total of 19 homes were sold or pending in Raritan Township in April 2024, up by 11.8% month-over-month. Of the 19 sold homes, 26% were sold under asking, 5% were sold at asking, and 68% were sold over asking.
Days on Market for Raritan Township, NJ
We’re sorry, we don't have information for this market at the moment
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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.