Is Palmyra, 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, Palmyra has remained a Seller's Market.
Key Takeaway
Palmyra is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Palmyra, NJ
How much do homes in Palmyra, NJ cost?
Median Sold Price
$250,000
$193/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Palmyra have sold for 3.8% less than they did a year ago.
Summary: The median home sold price in Palmyra was $250,000 in March 2024, down 3.8% from last year, and the median price per square foot was $193.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $202.5K | $224K | +10.6% |
| 3 Bedrooms | $270K | $285K | +5.6% |
| 4 Bedrooms | $270K | $323.5K | +19.8% |
| 5+ Bedrooms | $425K | $379.9K | -10.6% |
Summary: Palmyra 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 increased by 10.6%, 3 bedroom homes increased by 5.6%, 4 bedroom homes increased by 19.8%, and 5+ bedroom homes decreased by 10.6%.
Median Sold Price Compared To Nearby Cities
| Pennsauken | $229K | $260K | +13.5% |
| Pennsauken Township | $258.5K | $282.5K | +9.3% |
| Cinnaminson Township | $365K | $379.9K | +4.1% |
| Palmyra | $260K | $250K | -3.8% |
Housing Supply in Palmyra, NJ
How many homes are available in Palmyra, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 34 | 43 | +26.5% |
Summary: The Palmyra real estate market had 43 homes for sale in March 2024, a 26.5% 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 | 8 | 13 | +62.5% |
| 3 Bedrooms | 19 | 20 | +5.3% |
| 4 Bedrooms | 4 | 6 | +50.0% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The Palmyra 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 62.5%, 3 bedroom homes increased by 5.3%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 3 | 9 | +200.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Palmyra, you could pay more than the asking price. 55.6% of homes here sold above asking price last month.
Summary: A total of 9 homes were sold or pending in Palmyra in March 2024, up by 200.0% month-over-month. Of the 9 sold homes, 0% were sold under asking, 44% were sold at asking, and 56% were sold over asking.
Days on Market for Palmyra, NJ
How long does it take to sell a home in Palmyra, NJ?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 22 Days | 21 Days | -2.5% |
Summary: Homes in Palmyra had an average of 21 days on market in Mar 2024, down by 2.5% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Palmyra are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 9 homes were sold in Palmyra; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
