Is Pitman, 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, Pitman was a Seller's Market.
Key Takeaway
Pitman is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Pitman, NJ
How much do homes in Pitman, NJ cost?
Median Sold Price
$307,000
$195/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Pitman have sold for 17.5% more than they did a year ago.
Summary: The median home sold price in Pitman was $307,000 in March 2024, up 17.5% from last year, and the median price per square foot was $195.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $147K | - | N/A |
| 2 Bedrooms | $186.2K | $229K | +23.0% |
| 3 Bedrooms | $260K | $317.5K | +22.1% |
| 4 Bedrooms | $326.5K | $358K | +9.6% |
| 5+ Bedrooms | $399.9K | $420K | +5.0% |
Summary: Pitman 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 23%, 3 bedroom homes increased by 22.1%, 4 bedroom homes increased by 9.6%, and 5+ bedroom homes increased by 5%.
Median Sold Price Compared To Nearby Cities
| Glassboro | $277.5K | $330K | +18.9% |
| Pitman | $261.2K | $307K | +17.5% |
| Mantua Township | $265K | $290K | +9.4% |
| Washington Township | $335K | $357.3K | +6.7% |
| Sewell | $350K | $360K | +2.9% |
Housing Supply in Pitman, NJ
How many homes are available in Pitman, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 25 | 27 | +8.0% |
Summary: The Pitman real estate market had 27 homes for sale in March 2024, a 8.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 4 | 1 | -75.0% |
| 3 Bedrooms | 10 | 13 | +30.0% |
| 4 Bedrooms | 8 | 9 | +12.5% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Pitman housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 75%, 3 bedroom homes increased by 30%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 6 | 4 | -33.3% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Pitman, you could pay more than the asking price. 75% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in Pitman in March 2024, down by 33.3% month-over-month. Of the 4 sold homes, 0% were sold under asking, 25% were sold at asking, and 75% were sold over asking.
Days on Market for Pitman, NJ
How long does it take to sell a home in Pitman, NJ?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 42 Days | 5 Days | -86.3% |
Summary: Homes in Pitman had an average of 5 days on market in Mar 2024, down by 86.3% 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 Pitman are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 4 homes were sold in Pitman; 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.
