Is Metuchen, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Metuchen has remained a Seller's Market.
Housing Prices in Metuchen, NJ
How much do homes in Metuchen, NJ cost?
Median Sold Price
$622,500
$379/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Metuchen was $622,500 in March 2024, up 18.6% from last year, and the median price per square foot was $379.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $232K | $291K | +25.4% |
2 Bedrooms | $344.5K | $395K | +14.7% |
3 Bedrooms | $526K | $581K | +10.5% |
4 Bedrooms | $613K | $700K | +14.2% |
5+ Bedrooms | $694.9K | $886K | +27.5% |
Summary: Metuchen housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 25.4%, 2 bedroom homes increased by 14.7%, 3 bedroom homes increased by 10.5%, 4 bedroom homes increased by 14.2%, and 5+ bedroom homes increased by 27.5%.
Median Sold Price Compared To Nearby Cities
Metuchen | $525K | $622.5K | +18.6% |
Edison Township | $482.2K | $534K | +10.7% |
Edison | $483K | $533.9K | +10.5% |
Housing Supply in Metuchen, NJ
How many homes are available in Metuchen, NJ?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
48 | 48 | 0.0% |
Summary: The Metuchen real estate market had 48 homes for sale in March 2024, the same as February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 11 | 8 | -27.3% |
3 Bedrooms | 13 | 16 | +23.1% |
4 Bedrooms | 18 | 18 | 0.0% |
5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The Metuchen 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 decreased by 27.3%, 3 bedroom homes increased by 23.1%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
13 | 16 | +23.1% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 16 homes were sold or pending in Metuchen in March 2024, up by 23.1% month-over-month. Of the 16 sold homes, 38% were sold under asking, 13% were sold at asking, and 50% were sold over asking.
Days on Market for Metuchen, NJ
How long does it take to sell a home in Metuchen, NJ?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
55 Days | 33 Days | -39.4% |
Summary: Homes in Metuchen had an average of 33 days on market in Mar 2024, down by 39.4% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 16 homes were sold in Metuchen; 44% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.