Is Florence Township, 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, Florence Township was a Seller's Market.
Housing Prices in Florence Township, NJ
How much do homes in Florence Township, NJ cost?
Median Sold Price
$298,500
$198/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Florence Township was $298,500 in March 2024, up 9.7% from last year, and the median price per square foot was $198.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $98.5K | $120K | +21.8% |
2 Bedrooms | $223.7K | $278K | +24.2% |
3 Bedrooms | $255K | $281K | +10.2% |
4 Bedrooms | $522.5K | $449.9K | -13.9% |
5+ Bedrooms | $285K | $479K | +68.1% |
Summary: Florence Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 21.8%, 2 bedroom homes increased by 24.2%, 3 bedroom homes increased by 10.2%, 4 bedroom homes decreased by 13.9%, and 5+ bedroom homes increased by 68.1%.
Median Sold Price Compared To Nearby Cities
Florence Township | $272K | $298.5K | +9.7% |
Springfield Township | $535K | $577.5K | +7.9% |
Burlington Township | $355K | $318.8K | -10.2% |
Mansfield Township | $403.5K | $361K | -10.5% |
Housing Supply in Florence Township, NJ
How many homes are available in Florence Township, NJ?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
60 | 68 | +13.3% |
Summary: The Florence Township real estate market had 68 homes for sale in March 2024, a 13.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 8 | +100.0% |
2 Bedrooms | 13 | 10 | -23.1% |
3 Bedrooms | 28 | 25 | -10.7% |
4 Bedrooms | 12 | 22 | +83.3% |
5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Florence Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 23.1%, 3 bedroom homes decreased by 10.7%, 4 bedroom homes increased by 83.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
9 | 10 | +11.1% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 10 homes were sold or pending in Florence Township in March 2024, up by 11.1% month-over-month. Of the 10 sold homes, 40% were sold under asking, 10% were sold at asking, and 50% were sold over asking.
Days on Market for Florence Township, NJ
How long does it take to sell a home in Florence Township, NJ?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
46 Days | 56 Days | +21.6% |
Summary: Homes in Florence Township had an average of 56 days on market in Mar 2024, up by 21.6% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 10 homes were sold in Florence Township; 70% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 30% of homes were sold over 90 days.