Is Hopewell Township, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Hopewell Township is a buyer's market

Buyer's
Market

Difference Since February 2023

At the same time last year, Hopewell Township was a Seller's Market.

Key Takeaway

Hopewell Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Hopewell Township, NJ

How much do homes in Hopewell Township, NJ cost?

Median Sold Price

$620,000

$276/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$55,000(+9.7%)

Key Takeaway

Homes in Hopewell Township have sold for 9.7% more than they did a year ago.

Summary: The median home sold price in Hopewell Township was $620,000 in February 2024, up 9.7% from last year, and the median price per square foot was $276.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 -$360K
N/A
2 $382.5K$385K
+0.7%
3 $485K$525K
+8.2%
4 $730K$750K
+2.7%
5+ $999.5K$992.2K
-0.7%

Summary: Hopewell Township housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 0.7%, 3 bedroom homes increased by 8.2%, 4 bedroom homes increased by 2.7%, and 5+ bedroom homes decreased by 0.7%.

Median Sold Price Compared To Nearby Cities

West Amwell Township
+36.7%
Hopewell Township
+9.7%
Pennington
+0.7%
Titusville
-9.1%

Housing Supply in Hopewell Township, NJ

How many homes are available in Hopewell Township, NJ?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
9697+1.0%

Summary: The Hopewell Township real estate market had 97 homes for sale in February 2024, a 1.0% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 67
+16.7%
3 3429
-14.7%
4 3135
+12.9%
5+ 2526
+4.0%

Summary: The Hopewell Township housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 16.7%, 3 bedroom homes decreased by 14.7%, 4 bedroom homes increased by 12.9%, and 5+ bedroom homes increased by 4%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
65-16.7%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Hopewell Township, you could pay more than the asking price. 100% of homes here sold above asking price last month.

Summary: A total of 5 homes were sold or pending in Hopewell Township in February 2024, down by 16.7% month-over-month. Of the 5 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.

Days on Market for Hopewell Township, NJ

How long does it take to sell a home in Hopewell Township, NJ?

Average Sale Time

Feb 2023Feb 2024CHANGE
104 Days18 Days-82.2%

Summary: Homes in Hopewell Township had an average of 18 days on market in Feb 2024, down by 82.2% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Hopewell Township are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 5 homes were sold in Hopewell Township; 60% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 27 Days Ago

Newest Listings in Hopewell Township, NJ

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