Is Hopewell, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Hopewell was a Buyer's Market.
Key Takeaway
Hopewell is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Hopewell, NJ
How much do homes in Hopewell, NJ cost?
Median Sold Price
$647,500
$314/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Hopewell have sold for 25.1% more than they did a year ago.
Summary: The median home sold price in Hopewell was $647,500 in April 2024, up 25.1% from last year, and the median price per square foot was $314.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $200K | $416K | +108.0% |
| 3 Bedrooms | $525K | $555K | +5.7% |
| 4 Bedrooms | $700K | $775K | +10.7% |
| 5+ Bedrooms | $280K | $985K | +251.8% |
Summary: Hopewell 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 increased by 108%, 3 bedroom homes increased by 5.7%, 4 bedroom homes increased by 10.7%, and 5+ bedroom homes increased by 251.8%.
Median Sold Price Compared To Nearby Cities
| Hopewell | $517.5K | $647.5K | +25.1% |
| Hopewell Township | $567.7K | $622.5K | +9.6% |
Housing Supply in Hopewell, NJ
How many homes are available in Hopewell, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 17 | 20 | +17.6% |
Summary: The Hopewell real estate market had 20 homes for sale in April 2024, a 17.6% increase 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 | 2 | 3 | +50.0% |
| 3 Bedrooms | 3 | 4 | +33.3% |
| 4 Bedrooms | 7 | 8 | +14.3% |
| 5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The Hopewell 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 50%, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 3 | 3 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Hopewell, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Hopewell in April 2024, the same as the previous month. Of the 3 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.
Days on Market for Hopewell, NJ
How long does it take to sell a home in Hopewell, NJ?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 4 Days | 14 Days | +250.0% |
Summary: Homes in Hopewell had an average of 14 days on market in Apr 2024, up by 250% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Hopewell are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 3 homes were sold in Hopewell; 100% 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.
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