Is Palmyra, 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, Palmyra has remained a Seller's Market.
Housing Prices in Palmyra, NJ
How much do homes in Palmyra, NJ cost?
Median Sold Price
$261,000
$195/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Palmyra was $261,000 in May 2024, up 4.4% from last year, and the median price per square foot was $195.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $222.2K | $225K | +1.2% |
3 Bedrooms | $270K | $300K | +11.1% |
4 Bedrooms | $275K | $327K | +18.9% |
5+ Bedrooms | $295.1K | $343.9K | +16.5% |
Summary: Palmyra housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 1.2%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 18.9%, and 5+ bedroom homes increased by 16.5%.
Median Sold Price Compared To Nearby Cities
Pennsauken | $232.5K | $260K | +11.8% |
Pennsauken Township | $261.6K | $285K | +8.9% |
Cinnaminson Township | $360K | $390K | +8.3% |
Palmyra | $250K | $261K | +4.4% |
Riverton | $359.9K | $367.5K | +2.1% |
Housing Supply in Palmyra, NJ
How many homes are available in Palmyra, NJ?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
25 | 26 | +4.0% |
Summary: The Palmyra real estate market had 26 homes for sale in May 2024, a 4.0% 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 | 11 | 11 | 0.0% |
3 Bedrooms | 11 | 13 | +18.2% |
4 Bedrooms | 2 | 1 | -50.0% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Palmyra 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 remained the same, 3 bedroom homes increased by 18.2%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
5 | 8 | +60.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 8 homes were sold or pending in Palmyra in May 2024, up by 60.0% month-over-month. Of the 8 sold homes, 13% were sold under asking, 0% were sold at asking, and 88% were sold over asking.
Days on Market for Palmyra, NJ
How long does it take to sell a home in Palmyra, NJ?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
20 Days | 9 Days | -55.3% |
Summary: Homes in Palmyra had an average of 9 days on market in May 2024, down by 55.3% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 8 homes were sold in Palmyra; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.