Is Merchantville, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Merchantville was a Buyer's Market.
Key Takeaway
Merchantville is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Merchantville, NJ
How much do homes in Merchantville, NJ cost?
Median Sold Price
$315,000
$203/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Merchantville have sold for 15.5% less than they did a year ago.
Summary: The median home sold price in Merchantville was $315,000 in March 2024, down 15.5% from last year, and the median price per square foot was $203.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $89.9K | - | N/A |
| 2 Bedrooms | - | $135K | N/A |
| 3 Bedrooms | $301.5K | $287.5K | -4.6% |
| 4 Bedrooms | $380K | $370K | -2.6% |
| 5+ Bedrooms | $437.5K | $482.5K | +10.3% |
Summary: Merchantville housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 4.6%, 4 bedroom homes decreased by 2.6%, and 5+ bedroom homes increased by 10.3%.
Median Sold Price Compared To Nearby Cities
| Cherry Hill | $385K | $424K | +10.1% |
| Cherry Hill Township | $385K | $422K | +9.6% |
| Pennsauken Township | $258.5K | $282.5K | +9.3% |
| Merchantville | $373K | $315K | -15.5% |
Housing Supply in Merchantville, NJ
How many homes are available in Merchantville, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 18 | 20 | +11.1% |
Summary: The Merchantville real estate market had 20 homes for sale in March 2024, a 11.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 3 | +50.0% |
| 3 Bedrooms | 10 | 11 | +10.0% |
| 4 Bedrooms | 4 | 5 | +25.0% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Merchantville housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 25%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1 | 4 | +300.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Merchantville, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Merchantville in March 2024, up by 300.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Merchantville, NJ
How long does it take to sell a home in Merchantville, NJ?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 6 Days | 12 Days | +108.3% |
Summary: Homes in Merchantville had an average of 12 days on market in Mar 2024, up by 108.3% compared to last year.
Breakdown of Home Sale Times
4 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 Merchantville are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 4 homes were sold in Merchantville; 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.
