Is Lawrence 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, Lawrence Township was a Seller's Market.
Key Takeaway
Lawrence Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Lawrence Township, NJ
How much do homes in Lawrence Township, NJ cost?
Median Sold Price
$424,833
$253/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Lawrence Township have sold for 6.2% more than they did a year ago.
Summary: The median home sold price in Lawrence Township was $424,833 in March 2024, up 6.2% from last year, and the median price per square foot was $253.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $160K | $175K | +9.4% |
| 2 Bedrooms | $270K | $315K | +16.7% |
| 3 Bedrooms | $400K | $429K | +7.2% |
| 4 Bedrooms | $550K | $615K | +11.8% |
| 5+ Bedrooms | $658.5K | $836.9K | +27.1% |
Summary: Lawrence Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.4%, 2 bedroom homes increased by 16.7%, 3 bedroom homes increased by 7.2%, 4 bedroom homes increased by 11.8%, and 5+ bedroom homes increased by 27.1%.
Median Sold Price Compared To Nearby Cities
| Trenton | $225K | $300K | +33.3% |
| Ewing Township | $300K | $335K | +11.7% |
| Lawrence Township | $400K | $424.8K | +6.2% |
| West Windsor Township | $770K | $800.5K | +4.0% |
| Princeton Junction | $868K | $883K | +1.7% |
Housing Supply in Lawrence Township, NJ
How many homes are available in Lawrence Township, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 129 | 133 | +3.1% |
Summary: The Lawrence Township real estate market had 133 homes for sale in March 2024, a 3.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 4 | 0.0% |
| 2 Bedrooms | 21 | 22 | +4.8% |
| 3 Bedrooms | 54 | 51 | -5.6% |
| 4 Bedrooms | 31 | 35 | +12.9% |
| 5+ Bedrooms | 19 | 21 | +10.5% |
Summary: The Lawrence 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 4.8%, 3 bedroom homes decreased by 5.6%, 4 bedroom homes increased by 12.9%, and 5+ bedroom homes increased by 10.5%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 15 | 18 | +20.0% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lawrence Township, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 18 homes were sold or pending in Lawrence Township in March 2024, up by 20.0% month-over-month. Of the 18 sold homes, 50% were sold under asking, 11% were sold at asking, and 39% were sold over asking.
Days on Market for Lawrence Township, NJ
How long does it take to sell a home in Lawrence Township, NJ?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 42 Days | 33 Days | -21.6% |
Summary: Homes in Lawrence Township had an average of 33 days on market in Mar 2024, down by 21.6% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lawrence Township are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 18 homes were sold in Lawrence Township; 67% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
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