Is Magnolia, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Magnolia is a buyer's market

Buyer's
Market

Difference Since September 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

$310,000

$238/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$41,000(+15.2%)

Key Takeaway

Homes in Magnolia have sold for 15.2% more than they did a year ago.

Summary: The median home sold price in Magnolia was $310,000 in September 2024, up 15.2% from last year, and the median price per square foot was $238.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 -$237.5K
N/A
2 $275K$291K
+5.8%
3 $251K$310K
+23.5%
4 $292K$334.9K
+14.7%
5+ -$346.5K
N/A

Summary: Magnolia housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 5.8%, 3 bedroom homes increased by 23.5%, 4 bedroom homes increased by 14.7%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Somerdale
+26.5%
Lawnside
+21.1%
Magnolia
+15.2%
Barrington
+12.3%
Runnemede
+1.3%

Housing Supply in Magnolia, NJ

How many homes are available in Magnolia, NJ?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
1316+23.1%

Summary: The Magnolia real estate market had 16 homes for sale in September 2024, a 23.1% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 11
0.0%
2 22
0.0%
3 710
+42.9%
4 13
+200.0%
5+ 20
-100.0%

Summary: The Magnolia housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 42.9%, 4 bedroom homes increased by 200%, and 5+ bedroom homes decreased by 100%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
61-83.3%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

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 September 2024, down by 83.3% 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

Sep 2023Sep 2024CHANGE
12 Days12 Days-6.3%

Summary: Homes in Magnolia had an average of 12 days on market in Sep 2024, down by 6.3% 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

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During September 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.

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

Report Updated 15 Days Ago

Newest Listings in Magnolia, NJ

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