Is Penns Grove, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Penns Grove was a Neutral Market.
Housing Prices in Penns Grove, NJ
How much do homes in Penns Grove, NJ cost?
Median Sold Price
$201,500
$157/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Penns Grove was $201,500 in April 2024, up 15.2% from last year, and the median price per square foot was $157.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $58.5K | $124K | +112.0% |
2 Bedrooms | $99K | $149.9K | +51.5% |
3 Bedrooms | $174.9K | $215K | +22.9% |
4 Bedrooms | $235K | $230.5K | -1.9% |
5+ Bedrooms | $184.5K | $140K | -24.1% |
Summary: Penns Grove housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 112%, 2 bedroom homes increased by 51.5%, 3 bedroom homes increased by 22.9%, 4 bedroom homes decreased by 1.9%, and 5+ bedroom homes decreased by 24.1%.
Median Sold Price Compared To Nearby Cities
Wilmington | $247.4K | $314.5K | +27.1% |
Penns Grove | $174.9K | $201.5K | +15.2% |
Carneys Point Township | $192K | $215K | +12.0% |
Housing Supply in Penns Grove, NJ
How many homes are available in Penns Grove, NJ?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
62 | 57 | -8.1% |
Summary: The Penns Grove real estate market had 57 homes for sale in April 2024, a 8.1% decrease 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 | 10 | 12 | +20.0% |
3 Bedrooms | 32 | 30 | -6.3% |
4 Bedrooms | 15 | 10 | -33.3% |
5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The Penns Grove 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 increased by 20%, 3 bedroom homes decreased by 6.3%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
16 | 7 | -56.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 7 homes were sold or pending in Penns Grove in April 2024, down by 56.3% month-over-month. Of the 7 sold homes, 43% were sold under asking, 14% were sold at asking, and 43% were sold over asking.
Days on Market for Penns Grove, NJ
How long does it take to sell a home in Penns Grove, NJ?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
42 Days | 69 Days | +64.9% |
Summary: Homes in Penns Grove had an average of 69 days on market in Apr 2024, up by 64.9% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 7 homes were sold in Penns Grove; 71% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.