Is Berlin, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Berlin is a seller's market

Buyer's
Market

Difference Since September 2023

Since last year, Berlin has remained a Seller's Market.

Key Takeaway

Berlin is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Berlin, NJ

How much do homes in Berlin, NJ cost?

Median Sold Price

$360,000

$208/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$32,250(+9.8%)

Key Takeaway

Homes in Berlin have sold for 9.8% more than they did a year ago.

Summary: The median home sold price in Berlin was $360,000 in September 2024, up 9.8% from last year, and the median price per square foot was $208.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $137.5K$146K
+6.2%
2 $320K$380K
+18.8%
3 $300K$337K
+12.3%
4 $377.5K$442K
+17.1%
5+ $430K$429K
-0.2%

Summary: Berlin housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.2%, 2 bedroom homes increased by 18.8%, 3 bedroom homes increased by 12.3%, 4 bedroom homes increased by 17.1%, and 5+ bedroom homes decreased by 0.2%.

Median Sold Price Compared To Nearby Cities

Atco
+13.5%
Berlin Township
+10.6%
Berlin
+9.8%
West Berlin
+9.1%
Lindenwold
-3.0%

Housing Supply in Berlin, NJ

How many homes are available in Berlin, NJ?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
5043-14.0%

Summary: The Berlin real estate market had 43 homes for sale in September 2024, a 14.0% decrease compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 11
0.0%
2 711
+57.1%
3 2821
-25.0%
4 119
-18.2%
5+ 31
-66.7%

Summary: The Berlin housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 57.1%, 3 bedroom homes decreased by 25%, 4 bedroom homes decreased by 18.2%, and 5+ bedroom homes decreased by 66.7%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
1513-13.3%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Berlin, you could pay more than the asking price. 61.5% of homes here sold above asking price last month.

Summary: A total of 13 homes were sold or pending in Berlin in September 2024, down by 13.3% month-over-month. Of the 13 sold homes, 38% were sold under asking, 0% were sold at asking, and 62% were sold over asking.

Days on Market for Berlin, NJ

How long does it take to sell a home in Berlin, NJ?

Average Sale Time

Sep 2023Sep 2024CHANGE
19 Days18 Days-8.5%

Summary: Homes in Berlin had an average of 18 days on market in Sep 2024, down by 8.5% compared to last year.

Breakdown of Home Sale Times

10 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Berlin are selling fast, if you're buying plan to act quickly.

Summary: During September 2024, 13 homes were sold in Berlin; 77% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 12 Days Ago

Newest Listings in Berlin, NJ

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