Is Allentown, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Allentown has remained a Seller's Market.
Key Takeaway
Allentown is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Allentown, NJ
How much do homes in Allentown, NJ cost?
Median Sold Price
$550,000
$258/sqft
Based on all homes sold in the last 12 months.
The Median Sold Price hasn't changed since March 2023.
Key Takeaway
The sold price of homes in Allentown has remained the same since last year.
Summary: The median home sold price in Allentown was $550,000 in March 2024, the same as last year, and the median price per square foot was $258.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $152.5K | N/A |
| 2 Bedrooms | $453.5K | $507.5K | +11.9% |
| 3 Bedrooms | $500K | $490K | -2.0% |
| 4 Bedrooms | $700K | $735K | +5.0% |
| 5+ Bedrooms | $797.5K | $1.1M | +48.0% |
Summary: Allentown housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 11.9%, 3 bedroom homes decreased by 2%, 4 bedroom homes increased by 5%, and 5+ bedroom homes increased by 48%.
Median Sold Price Compared To Nearby Cities
| Robbinsville Township | $480K | $550.5K | +14.7% |
| Allentown | $550K | $550K | 0.0% |
| Upper Freehold Township | $705K | $700K | -0.7% |
Housing Supply in Allentown, NJ
How many homes are available in Allentown, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 19 | 16 | -15.8% |
Summary: The Allentown real estate market had 16 homes for sale in March 2024, a 15.8% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 3 | -40.0% |
| 3 Bedrooms | 7 | 6 | -14.3% |
| 4 Bedrooms | 4 | 4 | 0.0% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Allentown housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 40%, 3 bedroom homes decreased by 14.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 2 | 6 | +200.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Allentown, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Allentown in March 2024, up by 200.0% month-over-month. Of the 6 sold homes, 50% were sold under asking, 17% were sold at asking, and 33% were sold over asking.
Days on Market for Allentown, NJ
How long does it take to sell a home in Allentown, NJ?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 47 Days | 107 Days | +128.0% |
Summary: Homes in Allentown had an average of 107 days on market in Mar 2024, up by 128% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Allentown are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 6 homes were sold in Allentown; 17% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
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.