Is Metuchen, 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, Metuchen has remained a Seller's Market.
Housing Prices in Metuchen, NJ
How much do homes in Metuchen, NJ cost?
Median Sold Price
$630,000
$379/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Metuchen was $630,000 in April 2024, up 21.2% from last year, and the median price per square foot was $379.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $234.2K | $280K | +19.5% |
2 Bedrooms | $350.5K | $405K | +15.5% |
3 Bedrooms | $515K | $593.5K | +15.2% |
4 Bedrooms | $642.5K | $700K | +8.9% |
5+ Bedrooms | $699.9K | $886K | +26.6% |
Summary: Metuchen housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19.5%, 2 bedroom homes increased by 15.5%, 3 bedroom homes increased by 15.2%, 4 bedroom homes increased by 8.9%, and 5+ bedroom homes increased by 26.6%.
Median Sold Price Compared To Nearby Cities
Metuchen | $520K | $630K | +21.2% |
Edison Township | $487.8K | $537.5K | +10.2% |
Edison | $488.6K | $537.1K | +9.9% |
Housing Supply in Metuchen, NJ
How many homes are available in Metuchen, NJ?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
46 | 48 | +4.3% |
Summary: The Metuchen real estate market had 48 homes for sale in April 2024, a 4.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 8 | 5 | -37.5% |
3 Bedrooms | 14 | 17 | +21.4% |
4 Bedrooms | 18 | 14 | -22.2% |
5+ Bedrooms | 6 | 12 | +100.0% |
Summary: The Metuchen housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 37.5%, 3 bedroom homes increased by 21.4%, 4 bedroom homes decreased by 22.2%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
17 | 10 | -41.2% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 10 homes were sold or pending in Metuchen in April 2024, down by 41.2% month-over-month. Of the 10 sold homes, 20% were sold under asking, 0% were sold at asking, and 80% were sold over asking.
Days on Market for Metuchen, NJ
How long does it take to sell a home in Metuchen, NJ?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
26 Days | 26 Days | -0.1% |
Summary: Homes in Metuchen had an average of 26 days on market in Apr 2024, down by 0.1% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 10 homes were sold in Metuchen; 50% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.