Is Burlington, 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, Burlington was a Neutral Market.
Housing Prices in Burlington, NJ
How much do homes in Burlington, NJ cost?
Median Sold Price
$318,500
$199/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Burlington was $318,500 in March 2024, up 6.2% from last year, and the median price per square foot was $199.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $87K | $95K | +9.2% |
2 Bedrooms | $185K | $175K | -5.4% |
3 Bedrooms | $332.9K | $312.5K | -6.2% |
4 Bedrooms | $301.5K | $405K | +34.3% |
5+ Bedrooms | $185K | $273.7K | +48.0% |
Summary: Burlington housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.2%, 2 bedroom homes decreased by 5.4%, 3 bedroom homes decreased by 6.2%, 4 bedroom homes increased by 34.3%, and 5+ bedroom homes increased by 48%.
Median Sold Price Compared To Nearby Cities
Bristol | $273K | $311K | +13.9% |
Burlington | $300K | $318.5K | +6.2% |
Bristol Township | $315K | $329.9K | +4.8% |
Burlington Township | $355K | $318.8K | -10.2% |
Housing Supply in Burlington, NJ
How many homes are available in Burlington, NJ?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
154 | 170 | +10.4% |
Summary: The Burlington real estate market had 170 homes for sale in March 2024, a 10.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 5 | +66.7% |
2 Bedrooms | 13 | 12 | -7.7% |
3 Bedrooms | 63 | 80 | +27.0% |
4 Bedrooms | 51 | 49 | -3.9% |
5+ Bedrooms | 24 | 24 | 0.0% |
Summary: The Burlington housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 66.7%, 2 bedroom homes decreased by 7.7%, 3 bedroom homes increased by 27%, 4 bedroom homes decreased by 3.9%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
19 | 12 | -36.8% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 12 homes were sold or pending in Burlington in March 2024, down by 36.8% month-over-month. Of the 12 sold homes, 50% were sold under asking, 8% were sold at asking, and 42% were sold over asking.
Days on Market for Burlington, NJ
How long does it take to sell a home in Burlington, NJ?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
39 Days | 70 Days | +79.5% |
Summary: Homes in Burlington had an average of 70 days on market in Mar 2024, up by 79.5% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 12 homes were sold in Burlington; 17% of homes were sold within 30 days, 58% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.