Is Port Reading, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Port Reading was a Seller's Market.
Key Takeaway
Port Reading 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 Port Reading, NJ
How much do homes in Port Reading, NJ cost?
Median Sold Price
$495,000
$332/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Port Reading have sold for 10% more than they did a year ago.
Summary: The median home sold price in Port Reading was $495,000 in April 2024, up 10% from last year, and the median price per square foot was $332.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $405K | $349K | -13.8% |
| 3 Bedrooms | $432K | $477.5K | +10.5% |
| 4 Bedrooms | $475K | $538K | +13.3% |
| 5+ Bedrooms | $480K | $629K | +31.0% |
Summary: Port Reading housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 13.8%, 3 bedroom homes increased by 10.5%, 4 bedroom homes increased by 13.3%, and 5+ bedroom homes increased by 31%.
Median Sold Price Compared To Nearby Cities
| Woodbridge | $360K | $428.5K | +19.0% |
| Port Reading | $450K | $495K | +10.0% |
| Avenel | $400K | $440K | +10.0% |
| Carteret | $425.5K | $460K | +8.1% |
Housing Supply in Port Reading, NJ
How many homes are available in Port Reading, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 10 | 12 | +20.0% |
Summary: The Port Reading real estate market had 12 homes for sale in April 2024, a 20.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 1 | -50.0% |
| 3 Bedrooms | 2 | 5 | +150.0% |
| 4 Bedrooms | 4 | 4 | 0.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Port Reading housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes increased by 150%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 3 | 2 | -33.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Port Reading, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Port Reading in April 2024, down by 33.3% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Port Reading, NJ
How long does it take to sell a home in Port Reading, NJ?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 20 Days | 87 Days | +324.4% |
Summary: Homes in Port Reading had an average of 87 days on market in Apr 2024, up by 324.4% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Port Reading has remained consistent over time.
Summary: During April 2024, 2 homes were sold in Port Reading; 0% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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