Is Commercial Township, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Commercial Township has remained a Buyer's Market.
Key Takeaway
Commercial Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Commercial Township, NJ
How much do homes in Commercial Township, NJ cost?
Median Sold Price
$192,000
$168/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in Commercial Township have sold for 249.1% more than they did a month ago.
Summary: The median home sold price in Commercial Township was $192,000 in March 2024, up 249.1% from last month, and the median price per square foot was $168.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $42.5K | $190K | +347.1% |
| 3 Bedrooms | $232K | $221.5K | -4.5% |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Commercial Township housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 347.1%, 3 bedroom homes decreased by 4.5%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Commercial Township | $55K | $192K | +249.1% |
| Downe Township | $390K | $87.5K | -77.6% |
Housing Supply in Commercial Township, NJ
How many homes are available in Commercial Township, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 61 | 63 | +3.3% |
Summary: The Commercial Township real estate market had 63 homes for sale in March 2024, a 3.3% 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 | 16 | 19 | +18.8% |
| 3 Bedrooms | 41 | 39 | -4.9% |
| 4 Bedrooms | 3 | 4 | +33.3% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Commercial Township 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 18.8%, 3 bedroom homes decreased by 4.9%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 3 | 7 | +133.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Commercial Township, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in Commercial Township in March 2024, up by 133.3% month-over-month. Of the 7 sold homes, 43% were sold under asking, 14% were sold at asking, and 43% were sold over asking.
Days on Market for Commercial Township, NJ
How long does it take to sell a home in Commercial Township, NJ?
Average Sale Time
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 51 Days | 56 Days | +9.8% |
Summary: Homes in Commercial Township had an average of 56 days on market in Mar 2024, up by 9.8% compared to last month.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Commercial Township are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 7 homes were sold in Commercial Township; 57% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 29% 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.
Disclaimer: The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the South Jersey Shore Regional (SJSR) MLS. Real estate listings held by brokerage firms are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. © 2024 SJSR MLS. All rights reserved.