Is Medford Township, 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 Township has remained a Seller's Market.
Housing Prices in Medford Township, NJ
How much do homes in Medford Township, NJ cost?
Median Sold Price
$550,000
$226/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Medford Township was $550,000 in April 2024, up 6.7% from last year, and the median price per square foot was $226.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $156K | $170K | +9.0% |
2 Bedrooms | $390K | $489.5K | +25.5% |
3 Bedrooms | $425K | $442.5K | +4.1% |
4 Bedrooms | $590K | $595K | +0.8% |
5+ Bedrooms | $658.2K | $680K | +3.3% |
Summary: Medford Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9%, 2 bedroom homes increased by 25.5%, 3 bedroom homes increased by 4.1%, 4 bedroom homes increased by 0.8%, and 5+ bedroom homes increased by 3.3%.
Median Sold Price Compared To Nearby Cities
Lumberton Township | $315K | $455K | +44.4% |
Medford Lakes | $397.5K | $460K | +15.7% |
Evesham Township | $362.9K | $410K | +13.0% |
Medford | $501K | $550K | +9.8% |
Medford Township | $515.2K | $550K | +6.7% |
Housing Supply in Medford Township, NJ
How many homes are available in Medford Township, NJ?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
76 | 93 | +22.4% |
Summary: The Medford Township real estate market had 93 homes for sale in April 2024, a 22.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 1 | -50.0% |
2 Bedrooms | 3 | 5 | +66.7% |
3 Bedrooms | 24 | 26 | +8.3% |
4 Bedrooms | 25 | 40 | +60.0% |
5+ Bedrooms | 22 | 21 | -4.5% |
Summary: The Medford Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 66.7%, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 60%, and 5+ bedroom homes decreased by 4.5%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
18 | 22 | +22.2% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Summary: A total of 22 homes were sold or pending in Medford Township in April 2024, up by 22.2% month-over-month. Of the 22 sold homes, 18% were sold under asking, 14% were sold at asking, and 68% were sold over asking.
Days on Market for Medford Township, NJ
How long does it take to sell a home in Medford Township, NJ?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
38 Days | 29 Days | -24.0% |
Summary: Homes in Medford Township had an average of 29 days on market in Apr 2024, down by 24% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During April 2024, 22 homes were sold in Medford Township; 82% of homes were sold within 30 days, 5% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.