Is Lafayette 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, Lafayette Township was a Neutral Market.
Key Takeaway
Lafayette Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lafayette Township, NJ
How much do homes in Lafayette Township, NJ cost?
Median Sold Price
$440,000
-
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Lafayette Township have sold for 0.6% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $181.2K | $225K | +24.1% |
| 2 Bedrooms | $245K | $292.4K | +19.4% |
| 3 Bedrooms | $374.9K | $380K | +1.3% |
| 4 Bedrooms | $591K | $622.5K | +5.3% |
| 5+ Bedrooms | $780K | $670K | -14.1% |
Summary: Lafayette Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 24.1%, 2 bedroom homes increased by 19.4%, 3 bedroom homes increased by 1.3%, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes decreased by 14.1%.
Median Sold Price Compared To Nearby Cities
| Lafayette | $408.6K | $435K | +6.5% |
| Sparta Township | $500K | $531.3K | +6.3% |
| Sparta | $500K | $531.3K | +6.3% |
| Lafayette Township | $437.3K | $440K | +0.6% |
Housing Supply in Lafayette Township, NJ
How many homes are available in Lafayette Township, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 12 | 16 | +33.3% |
Summary: The Lafayette Township real estate market had 16 homes for sale in March 2024, a 33.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 2 | 6 | +200.0% |
| 3 Bedrooms | 4 | 3 | -25.0% |
| 4 Bedrooms | 5 | 6 | +20.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Lafayette 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 increased by 200%, 3 bedroom homes decreased by 25%, 4 bedroom homes increased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1 | 3 | +200.0% |
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 Lafayette Township, 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 Lafayette Township in March 2024, up by 200.0% month-over-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 Lafayette Township, NJ
We’re sorry, we don't have information for this market at the moment
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