Is Blackwood, 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, Blackwood has remained a Seller's Market.
Key Takeaway
Blackwood is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Blackwood, NJ
How much do homes in Blackwood, NJ cost?
Median Sold Price
$319,166
$189/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Blackwood have sold for 6.4% more than they did a year ago.
Summary: The median home sold price in Blackwood was $319,166 in March 2024, up 6.4% from last year, and the median price per square foot was $189.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $150.5K | $170K | +13.0% |
| 2 Bedrooms | $195K | $227K | +16.4% |
| 3 Bedrooms | $284.5K | $315K | +10.7% |
| 4 Bedrooms | $350K | $375K | +7.1% |
| 5+ Bedrooms | $466.9K | $410K | -12.2% |
Summary: Blackwood housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13%, 2 bedroom homes increased by 16.4%, 3 bedroom homes increased by 10.7%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes decreased by 12.2%.
Median Sold Price Compared To Nearby Cities
| Gloucester Township | $283.1K | $309.4K | +9.3% |
| Washington Township | $335K | $357.3K | +6.7% |
| Blackwood | $300K | $319.1K | +6.4% |
| Sewell | $350K | $360K | +2.9% |
Housing Supply in Blackwood, NJ
How many homes are available in Blackwood, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 124 | 140 | +12.9% |
Summary: The Blackwood real estate market had 140 homes for sale in March 2024, a 12.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 6 | 0.0% |
| 2 Bedrooms | 12 | 13 | +8.3% |
| 3 Bedrooms | 54 | 59 | +9.3% |
| 4 Bedrooms | 45 | 52 | +15.6% |
| 5+ Bedrooms | 7 | 10 | +42.9% |
Summary: The Blackwood 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 increased by 8.3%, 3 bedroom homes increased by 9.3%, 4 bedroom homes increased by 15.6%, and 5+ bedroom homes increased by 42.9%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 16 | 35 | +118.8% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Blackwood, you could pay more than the asking price. 42.9% of homes here sold above asking price last month.
Summary: A total of 35 homes were sold or pending in Blackwood in March 2024, up by 118.8% month-over-month. Of the 35 sold homes, 37% were sold under asking, 20% were sold at asking, and 43% were sold over asking.
Days on Market for Blackwood, NJ
How long does it take to sell a home in Blackwood, NJ?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 38 Days | 43 Days | +12.5% |
Summary: Homes in Blackwood had an average of 43 days on market in Mar 2024, up by 12.5% compared to last year.
Breakdown of Home Sale Times
21 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Blackwood are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 35 homes were sold in Blackwood; 60% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
