Is Farmingdale, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Farmingdale has remained a Seller's Market.
Key Takeaway
Farmingdale is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Farmingdale, NJ
How much do homes in Farmingdale, NJ cost?
Median Sold Price
$744,325
$327/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Farmingdale have sold for 15.3% less than they did a year ago.
Summary: The median home sold price in Farmingdale was $744,325 in April 2024, down 15.3% from last year, and the median price per square foot was $327.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $777.9K | $670K | -13.9% |
| 3 Bedrooms | $842.8K | $630K | -25.3% |
| 4 Bedrooms | $927.6K | $820K | -11.6% |
| 5+ Bedrooms | $881K | $803K | -8.9% |
Summary: Farmingdale housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 13.9%, 3 bedroom homes decreased by 25.3%, 4 bedroom homes decreased by 11.6%, and 5+ bedroom homes decreased by 8.9%.
Median Sold Price Compared To Nearby Cities
| Howell Township | $549K | $585K | +6.6% |
| Farmingdale | $879K | $744.3K | -15.3% |
Housing Supply in Farmingdale, NJ
How many homes are available in Farmingdale, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 22 | 16 | -27.3% |
Summary: The Farmingdale real estate market had 16 homes for sale in April 2024, a 27.3% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 2 | +100.0% |
| 3 Bedrooms | 11 | 8 | -27.3% |
| 4 Bedrooms | 8 | 3 | -62.5% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Farmingdale housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes decreased by 27.3%, 4 bedroom homes decreased by 62.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 6 | 5 | -16.7% |
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 Farmingdale, 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 Farmingdale in April 2024, down by 16.7% 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 Farmingdale, NJ
How long does it take to sell a home in Farmingdale, NJ?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 143 Days | 45 Days | -68.6% |
Summary: Homes in Farmingdale had an average of 45 days on market in Apr 2024, down by 68.6% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Farmingdale are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 5 homes were sold in Farmingdale; 60% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Monmouth/Ocean MLS Monmouth County Association Board of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright © 2024 Monmouth/Ocean MLS Monmouth County Association Board of Realtors. All Rights Reserved.