Is Cumberland County, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Cumberland County is a neutral's market

Buyer's
Market

Difference Since October 2021

At the same time last year, Cumberland County was a Seller's Market.

Key Takeaway

Cumberland County is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

How much do homes in Cumberland County, NJ cost?

Median Sold Price

$220,541

$152/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2021

+$23,560(+12.0%)

Key Takeaway

Homes in Cumberland County have sold for 12% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSOct 2021Oct 2022%
1 $52.5K$135K
+157.1%
2 $139.9K$149K
+6.5%
3 $200K$221.6K
+10.8%
4 $269K$291K
+8.2%
5+ $271K$370K
+36.5%

Median Sold Price Compared To Nearby Counties

Cumberland County
+12.0%
Gloucester County
+7.8%
Salem County
+5.0%

How many homes are available in Cumberland County, NJ?

Number of Homes For Sale

Sep 2022Oct 2022%
659604-8.3%

Homes For Sale By Bedroom Count

# BEDSSep 2022Oct 2022%
1 108
-20.0%
2 10492
-11.5%
3 368350
-4.9%
4 144124
-13.9%
5+ 3330
-9.1%

Number of Homes Sold

Sep 2022Oct 2022%
15197-35.8%

Asking Price vs. Sold Price

35 Homes Were Sold
Under Asking

20 Homes Were Sold
At Asking

42 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Cumberland County, you could pay more than the asking price. 43.3% of homes here sold above asking price last month.

Average Sale Time

Oct 2021Oct 2022%
41 Days46 Days+10.3%

Breakdown of Home Sale Times

57 Homes Were Sold
Under 30 Days

24 Homes Were Sold
In 30 - 90 Days

15 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

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

About Cumberland County, NJ

Homes for sale in Cumberland County, NJ have reached 604. The number of listings in Cumberland County, NJ decreased by 8.3% between September 2022 and October 2022. Listings spent 46 days on the market in October 2022, and had a median list price of $220,541 during the same period. Listing prices have changed in this real estate market between September 2022 and October 2022: prices of 1 bedroom properties increased by 157.1%, the cost of 2 bedrooms properties went up by 6.5%, the cost of 3 bedrooms properties went up by 10.8%, 4 bedrooms properties prices increased by 8.2%, 5 bedrooms properties became 36.5% more expensive. The following changes in the number of homes for sale were observed in this housing market: volume of 1 bedroom homes went down by 20%, 2 bedrooms homes became 11.5% less available, 3 bedrooms homes inventory decreased by 4.9%, the quantity of 4 bedrooms homes went down by 13.9%, the quantity of 5 bedrooms homes went down by 9.1%. Cumberland County, NJ housing market in October 2022 saw over 42 listings sold above listed price, more than 20 sold at listed price and over 35 sold below.

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