Is Edison Township, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, Edison Township has remained a Seller's Market.
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
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
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $140K | $160K | +14.3% |
2 Bedrooms | $337.5K | $370K | +9.6% |
3 Bedrooms | $479.3K | $496.6K | +3.6% |
4 Bedrooms | $630K | $685K | +8.7% |
5+ Bedrooms | $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%.
Housing Supply in Edison Township, NJ
How many homes are available in Edison Township, NJ?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
192 | 207 | +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
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 12 | 12 | 0.0% |
2 Bedrooms | 28 | 35 | +25.0% |
3 Bedrooms | 54 | 52 | -3.7% |
4 Bedrooms | 49 | 55 | +12.2% |
5+ Bedrooms | 49 | 53 | +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 2024 | Feb 2024 | CHANGE |
---|---|---|
34 | 43 | +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
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 2023 | Feb 2024 | CHANGE |
---|---|---|
40 Days | 43 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
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.