Is Edison Township, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Edison Township is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, Edison Township has remained a Seller's Market.

Key Takeaway

Edison Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Edison Township, NJ

How much do homes in Edison Township, NJ cost?

Median Sold Price

$520,000

$326/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$36,475(+7.5%)

Key Takeaway

Homes in Edison Township have sold for 7.5% more than they did a year ago.

Summary: The median home sold price in Edison Township was $520,000 in February 2024, up 7.5% from last year, and the median price per square foot was $326.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $140K$160K
+14.3%
2 $337.5K$370K
+9.6%
3 $479.3K$496.6K
+3.6%
4 $630K$685K
+8.7%
5+ $782.5K$860K
+9.9%

Summary: Edison Township housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.3%, 2 bedroom homes increased by 9.6%, 3 bedroom homes increased by 3.6%, 4 bedroom homes increased by 8.7%, and 5+ bedroom homes increased by 9.9%.

Median Sold Price Compared To Nearby Cities

Metuchen
+19.0%
Edison Township
+7.5%
Edison
+7.5%
Fords
+1.4%

Housing Supply in Edison Township, NJ

How many homes are available in Edison Township, NJ?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
192207+7.8%

Summary: The Edison Township real estate market had 207 homes for sale in February 2024, a 7.8% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 1212
0.0%
2 2835
+25.0%
3 5452
-3.7%
4 4955
+12.2%
5+ 4953
+8.2%

Summary: The Edison Township housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 25%, 3 bedroom homes decreased by 3.7%, 4 bedroom homes increased by 12.2%, and 5+ bedroom homes increased by 8.2%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
3443+26.5%

Asking Price vs. Sold Price

13 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

29 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Edison Township, you could pay more than the asking price. 67.4% of homes here sold above asking price last month.

Summary: A total of 43 homes were sold or pending in Edison Township in February 2024, up by 26.5% month-over-month. Of the 43 sold homes, 30% were sold under asking, 2% were sold at asking, and 67% were sold over asking.

Days on Market for Edison Township, NJ

How long does it take to sell a home in Edison Township, NJ?

Average Sale Time

Feb 2023Feb 2024CHANGE
40 Days43 Days+7.7%

Summary: Homes in Edison Township had an average of 43 days on market in Feb 2024, up by 7.7% compared to last year.

Breakdown of Home Sale Times

25 Homes Were Sold
Under 30 Days

9 Homes Were Sold
In 30 - 90 Days

6 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During February 2024, 43 homes were sold in Edison Township; 58% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.

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

Report Updated 28 Days Ago

Newest Listings in Edison Township, NJ

Nearby Markets to Edison Township, NJ

What housing markets are near Edison Township, NJ?