Is Magnolia, 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, Magnolia was a Seller's Market.
Key Takeaway
Magnolia is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Magnolia, NJ
How much do homes in Magnolia, NJ cost?
Median Sold Price
$283,250
$218/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Magnolia have sold for 8.5% more than they did a year ago.
Summary: The median home sold price in Magnolia was $283,250 in April 2024, up 8.5% from last year, and the median price per square foot was $218.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $260.2K | $272.5K | +4.7% |
| 3 Bedrooms | $262K | $280K | +6.9% |
| 4 Bedrooms | $253K | $325K | +28.5% |
| 5+ Bedrooms | - | - | N/A |
Summary: Magnolia 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 4.7%, 3 bedroom homes increased by 6.9%, 4 bedroom homes increased by 28.5%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Somerdale | $250K | $300K | +20.0% |
| Barrington | $315K | $350K | +11.1% |
| Magnolia | $261K | $283.2K | +8.5% |
| Runnemede | $260K | $278.7K | +7.2% |
| Lawnside | $280K | $296K | +5.7% |
Housing Supply in Magnolia, NJ
How many homes are available in Magnolia, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 15 | 14 | -6.7% |
Summary: The Magnolia real estate market had 14 homes for sale in April 2024, a 6.7% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 10 | 9 | -10.0% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Magnolia 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 remained the same, 3 bedroom homes decreased by 10%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2 | 1 | -50.0% |
Asking Price vs. Sold Price
0 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 Magnolia, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 1 homes were sold or pending in Magnolia in April 2024, down by 50.0% month-over-month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Magnolia, NJ
How long does it take to sell a home in Magnolia, NJ?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 35 Days | 4 Days | -88.6% |
Summary: Homes in Magnolia had an average of 4 days on market in Apr 2024, down by 88.6% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Magnolia are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 1 homes were sold in Magnolia; 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.
