Is Galloway Township, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Galloway Township has remained a Seller's Market.
Housing Prices in Galloway Township, NJ
How much do homes in Galloway Township, NJ cost?
Median Sold Price
$280,000
$186/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Galloway Township was $280,000 in March 2024, up 3.7% from last year, and the median price per square foot was $186.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $126K | $166K | +31.7% |
2 Bedrooms | $175K | $211K | +20.6% |
3 Bedrooms | $310K | $335K | +8.1% |
4 Bedrooms | $380K | $400K | +5.3% |
5+ Bedrooms | $400K | $485K | +21.3% |
Summary: Galloway Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 31.7%, 2 bedroom homes increased by 20.6%, 3 bedroom homes increased by 8.1%, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes increased by 21.3%.
Median Sold Price Compared To Nearby Cities
Brigantine | $530K | $579.9K | +9.4% |
Galloway Township | $270K | $280K | +3.7% |
Absecon | $285K | $294.5K | +3.3% |
Egg Harbor City | $260K | $257.5K | -1.0% |
Housing Supply in Galloway Township, NJ
How many homes are available in Galloway Township, NJ?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
179 | 162 | -9.5% |
Summary: The Galloway Township real estate market had 162 homes for sale in March 2024, a 9.5% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 6 | 6 | 0.0% |
2 Bedrooms | 56 | 49 | -12.5% |
3 Bedrooms | 65 | 57 | -12.3% |
4 Bedrooms | 33 | 28 | -15.2% |
5+ Bedrooms | 19 | 22 | +15.8% |
Summary: The Galloway Township 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 decreased by 12.5%, 3 bedroom homes decreased by 12.3%, 4 bedroom homes decreased by 15.2%, and 5+ bedroom homes increased by 15.8%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
41 | 38 | -7.3% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 38 homes were sold or pending in Galloway Township in March 2024, down by 7.3% month-over-month. Of the 28 sold homes, 50% were sold under asking, 18% were sold at asking, and 32% were sold over asking.
Days on Market for Galloway Township, NJ
How long does it take to sell a home in Galloway Township, NJ?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
28 Days | 32 Days | +13.6% |
Summary: Homes in Galloway Township had an average of 32 days on market in Mar 2024, up by 13.6% compared to last year.
Breakdown of Home Sale Times
25 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 38 homes were sold in Galloway Township; 66% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.