Is Lower Township, 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, Lower Township was a Neutral Market.
Key Takeaway
Lower Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lower Township, NJ
How much do homes in Lower Township, NJ cost?
Median Sold Price
$430,000
$344/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Lower Township have sold for 16.2% more than they did a year ago.
Summary: The median home sold price in Lower Township was $430,000 in April 2024, up 16.2% from last year, and the median price per square foot was $344.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $175K | $684.2K | +291.0% |
| 2 Bedrooms | $300K | $314K | +4.7% |
| 3 Bedrooms | $425K | $450K | +5.9% |
| 4 Bedrooms | $624.9K | $482K | -22.9% |
| 5+ Bedrooms | - | $989.9K | N/A |
Summary: Lower Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 291%, 2 bedroom homes increased by 4.7%, 3 bedroom homes increased by 5.9%, 4 bedroom homes decreased by 22.9%, and 5+ bedroom homes did not change.
Housing Supply in Lower Township, NJ
How many homes are available in Lower Township, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 29 | 28 | -3.4% |
Summary: The Lower Township real estate market had 28 homes for sale in April 2024, a 3.4% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 6 | 5 | -16.7% |
| 3 Bedrooms | 12 | 10 | -16.7% |
| 4 Bedrooms | 7 | 8 | +14.3% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Lower Township 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 decreased by 16.7%, 3 bedroom homes decreased by 16.7%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 6 | 6 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lower Township, you could pay more than the asking price. 80% of homes here sold above asking price last month.
Summary: A total of 6 homes were sold or pending in Lower Township in April 2024, the same as the previous month. Of the 5 sold homes, 20% were sold under asking, 0% were sold at asking, and 80% were sold over asking.
Days on Market for Lower Township, NJ
How long does it take to sell a home in Lower Township, NJ?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 42 Days | 7 Days | -83.4% |
Summary: Homes in Lower Township had an average of 7 days on market in Apr 2024, down by 83.4% compared to last year.
Breakdown of Home Sale Times
6 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 Lower Township are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 6 homes were sold in Lower Township; 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.
Disclaimer: The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the South Jersey Shore Regional (SJSR) MLS. Real estate listings held by brokerage firms are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. © 2024 SJSR MLS. All rights reserved. 
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Monmouth/Ocean MLS Monmouth County Association Board of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright © 2024 Monmouth/Ocean MLS Monmouth County Association Board of Realtors. All Rights Reserved.