Is Elizabeth, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Elizabeth was a Seller's Market.
Housing Prices in Elizabeth, NJ
How much do homes in Elizabeth, NJ cost?
Median Sold Price
$430,000
$269/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Elizabeth was $430,000 in March 2024, up 11.1% from last year, and the median price per square foot was $269.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $190K | $212.5K | +11.8% |
2 Bedrooms | $267.9K | $286K | +6.7% |
3 Bedrooms | $399K | $420K | +5.3% |
4 Bedrooms | $437K | $500K | +14.4% |
5+ Bedrooms | $476.2K | $557.5K | +17.1% |
Summary: Elizabeth housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.8%, 2 bedroom homes increased by 6.7%, 3 bedroom homes increased by 5.3%, 4 bedroom homes increased by 14.4%, and 5+ bedroom homes increased by 17.1%.
Median Sold Price Compared To Nearby Cities
Elizabeth | $387K | $430K | +11.1% |
Roselle | $410K | $445K | +8.5% |
Hillside | $409.5K | $442K | +7.9% |
Hillside Township | $409.5K | $442K | +7.9% |
Housing Supply in Elizabeth, NJ
How many homes are available in Elizabeth, NJ?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
173 | 221 | +27.7% |
Summary: The Elizabeth real estate market had 221 homes for sale in March 2024, a 27.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 4 | 0.0% |
2 Bedrooms | 24 | 32 | +33.3% |
3 Bedrooms | 28 | 36 | +28.6% |
4 Bedrooms | 32 | 39 | +21.9% |
5+ Bedrooms | 85 | 110 | +29.4% |
Summary: The Elizabeth 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 33.3%, 3 bedroom homes increased by 28.6%, 4 bedroom homes increased by 21.9%, and 5+ bedroom homes increased by 29.4%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
13 | 16 | +23.1% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 16 homes were sold or pending in Elizabeth in March 2024, up by 23.1% month-over-month. Of the 16 sold homes, 38% were sold under asking, 13% were sold at asking, and 50% were sold over asking.
Days on Market for Elizabeth, NJ
How long does it take to sell a home in Elizabeth, NJ?
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 16 homes were sold in Elizabeth; 6% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.