Is Dover, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Dover was a Seller's Market.
Key Takeaway
Dover is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Dover, NJ
How much do homes in Dover, NJ cost?
Median Sold Price
$428,500
$277/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Dover have sold for 12.8% more than they did a year ago.
Summary: The median home sold price in Dover was $428,500 in April 2024, up 12.8% from last year, and the median price per square foot was $277.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $230.5K | $262.5K | +13.9% |
| 2 Bedrooms | $270.5K | $297.5K | +10.0% |
| 3 Bedrooms | $390K | $429K | +10.0% |
| 4 Bedrooms | $470K | $491K | +4.5% |
| 5+ Bedrooms | $485K | $612.5K | +26.3% |
Summary: Dover housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.9%, 2 bedroom homes increased by 10%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 4.5%, and 5+ bedroom homes increased by 26.3%.
Median Sold Price Compared To Nearby Cities
| Dover | $380K | $428.5K | +12.8% |
| Wharton | $397.5K | $435K | +9.4% |
| Randolph | $700K | $720K | +2.9% |
| Mine Hill | $410K | $420K | +2.4% |
Housing Supply in Dover, NJ
How many homes are available in Dover, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 34 | 33 | -2.9% |
Summary: The Dover real estate market had 33 homes for sale in April 2024, a 2.9% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 5 | 6 | +20.0% |
| 3 Bedrooms | 15 | 17 | +13.3% |
| 4 Bedrooms | 11 | 7 | -36.4% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Dover housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 13.3%, 4 bedroom homes decreased by 36.4%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 13 | 5 | -61.5% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Dover, you could pay more than the asking price. 80% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in Dover in April 2024, down by 61.5% month-over-month. Of the 5 sold homes, 20% were sold under asking, 0% were sold at asking, and 80% were sold over asking.
Days on Market for Dover, NJ
We’re sorry, we don't have information for this market at the moment
