Is Berlin, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Berlin was a Seller's Market.
Key Takeaway
Berlin is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Berlin, NJ
How much do homes in Berlin, NJ cost?
Median Sold Price
$355,500
$198/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Berlin have sold for 12.9% more than they did a year ago.
Summary: The median home sold price in Berlin was $355,500 in March 2024, up 12.9% from last year, and the median price per square foot was $198.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $109.9K | $137.5K | +25.0% |
| 2 Bedrooms | $275K | $340K | +23.6% |
| 3 Bedrooms | $287.7K | $325K | +12.9% |
| 4 Bedrooms | $434K | $420K | -3.2% |
| 5+ Bedrooms | $380K | $447K | +17.6% |
Summary: Berlin housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 23.6%, 3 bedroom homes increased by 12.9%, 4 bedroom homes decreased by 3.2%, and 5+ bedroom homes increased by 17.6%.
Median Sold Price Compared To Nearby Cities
| Berlin Township | $279.9K | $349.4K | +24.8% |
| Berlin | $315K | $355.5K | +12.9% |
| Lindenwold | $224.9K | $240K | +6.7% |
| Atco | $285.5K | $300K | +5.1% |
Housing Supply in Berlin, NJ
How many homes are available in Berlin, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 55 | 60 | +9.1% |
Summary: The Berlin real estate market had 60 homes for sale in March 2024, a 9.1% increase 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 | 6 | 6 | 0.0% |
| 3 Bedrooms | 33 | 37 | +12.1% |
| 4 Bedrooms | 15 | 15 | 0.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Berlin 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 remained the same, 3 bedroom homes increased by 12.1%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 9 | 6 | -33.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Berlin, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 6 homes were sold or pending in Berlin in March 2024, down by 33.3% month-over-month. Of the 6 sold homes, 17% were sold under asking, 17% were sold at asking, and 67% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 24 Days | 13 Days | -46.5% |
Summary: Homes in Berlin had an average of 13 days on market in Mar 2024, down by 46.5% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Berlin are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 6 homes were sold in Berlin; 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.
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.