Is Medford Lakes, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Medford Lakes has remained a Seller's Market.
Housing Prices in Medford Lakes, NJ
How much do homes in Medford Lakes, NJ cost?
Median Sold Price
$460,000
$260/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Medford Lakes was $460,000 in April 2024, up 15.7% from last year, and the median price per square foot was $260.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $390K | $413.7K | +6.1% |
3 Bedrooms | $380.2K | $440K | +15.7% |
4 Bedrooms | $587.5K | $549.9K | -6.4% |
5+ Bedrooms | $472K | $655K | +38.8% |
Summary: Medford Lakes 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 6.1%, 3 bedroom homes increased by 15.7%, 4 bedroom homes decreased by 6.4%, and 5+ bedroom homes increased by 38.8%.
Median Sold Price Compared To Nearby Cities
Medford Lakes | $397.5K | $460K | +15.7% |
Medford | $501K | $550K | +9.8% |
Medford Township | $515.2K | $550K | +6.7% |
Housing Supply in Medford Lakes, NJ
How many homes are available in Medford Lakes, NJ?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
13 | 8 | -38.5% |
Summary: The Medford Lakes real estate market had 8 homes for sale in April 2024, a 38.5% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 0 | 0 | 0.0% |
3 Bedrooms | 8 | 3 | -62.5% |
4 Bedrooms | 2 | 2 | 0.0% |
5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Medford Lakes 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 62.5%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
3 | 2 | -33.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 2 homes were sold or pending in Medford Lakes in April 2024, down by 33.3% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Medford Lakes, NJ
How long does it take to sell a home in Medford Lakes, NJ?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
11 Days | 54 Days | +382.1% |
Summary: Homes in Medford Lakes had an average of 54 days on market in Apr 2024, up by 382.1% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 2 homes were sold in Medford Lakes; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.