Is Berkeley Township, 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, Berkeley Township has remained a Seller's Market.
Housing Prices in Berkeley Township, NJ
How much do homes in Berkeley Township, NJ cost?
Median Sold Price
$334,985
$240/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Berkeley Township was $334,985 in March 2024, up 7% from last year, and the median price per square foot was $240.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $226K | $208.1K | -7.9% |
2 Bedrooms | $284.2K | $298.9K | +5.2% |
3 Bedrooms | $400K | $450K | +12.5% |
4 Bedrooms | $530K | $610K | +15.1% |
5+ Bedrooms | $662.4K | $690K | +4.2% |
Summary: Berkeley Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 7.9%, 2 bedroom homes increased by 5.2%, 3 bedroom homes increased by 12.5%, 4 bedroom homes increased by 15.1%, and 5+ bedroom homes increased by 4.2%.
Median Sold Price Compared To Nearby Cities
Ocean Gate | $342.2K | $425K | +24.2% |
Bayville | $419.3K | $499.1K | +19.0% |
Lanoka Harbor | $460K | $520K | +13.0% |
Lacey Township | $399.7K | $450K | +12.6% |
Berkeley Township | $313.1K | $334.9K | +7.0% |
Housing Supply in Berkeley Township, NJ
How many homes are available in Berkeley Township, NJ?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
373 | 394 | +5.6% |
Summary: The Berkeley Township real estate market had 394 homes for sale in March 2024, a 5.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 2 | +100.0% |
2 Bedrooms | 265 | 286 | +7.9% |
3 Bedrooms | 37 | 45 | +21.6% |
4 Bedrooms | 58 | 46 | -20.7% |
5+ Bedrooms | 12 | 15 | +25.0% |
Summary: The Berkeley Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 7.9%, 3 bedroom homes increased by 21.6%, 4 bedroom homes decreased by 20.7%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
74 | 92 | +24.3% |
Asking Price vs. Sold Price
52 Homes Were Sold
Under Asking
18 Homes Were Sold
At Asking
22 Homes Were Sold
Over Asking
Summary: A total of 92 homes were sold or pending in Berkeley Township in March 2024, up by 24.3% month-over-month. Of the 92 sold homes, 57% were sold under asking, 20% were sold at asking, and 24% were sold over asking.
Days on Market for Berkeley Township, NJ
How long does it take to sell a home in Berkeley Township, NJ?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
35 Days | 51 Days | +46.6% |
Summary: Homes in Berkeley Township had an average of 51 days on market in Mar 2024, up by 46.6% compared to last year.
Breakdown of Home Sale Times
51 Homes Were Sold
Under 30 Days
22 Homes Were Sold
In 30 - 90 Days
18 Homes Were Sold
Over 90 Days
Summary: During March 2024, 92 homes were sold in Berkeley Township; 55% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.