Is South Amboy, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing South Amboy is a seller's market

Buyer's
Market

Difference Since March 2023

Since last year, South Amboy has remained a Seller's Market.

Key Takeaway

South Amboy is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in South Amboy, NJ

How much do homes in South Amboy, NJ cost?

Median Sold Price

$451,000

$294/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$36,000(+8.7%)

Key Takeaway

Homes in South Amboy have sold for 8.7% more than they did a year ago.

Summary: The median home sold price in South Amboy was $451,000 in March 2024, up 8.7% from last year, and the median price per square foot was $294.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $238K$240K
+0.8%
2 $402.5K$357.5K
-11.2%
3 $415K$455K
+9.6%
4 $425K$518K
+21.9%
5+ $625K$502.5K
-19.6%

Summary: South Amboy housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.8%, 2 bedroom homes decreased by 11.2%, 3 bedroom homes increased by 9.6%, 4 bedroom homes increased by 21.9%, and 5+ bedroom homes decreased by 19.6%.

Median Sold Price Compared To Nearby Cities

South Amboy
+8.7%
Sayreville
+7.1%

Housing Supply in South Amboy, NJ

How many homes are available in South Amboy, NJ?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
4665+41.3%

Summary: The South Amboy real estate market had 65 homes for sale in March 2024, a 41.3% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 01
+100.0%
2 1116
+45.5%
3 1926
+36.8%
4 1315
+15.4%
5+ 37
+133.3%

Summary: The South Amboy 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 increased by 45.5%, 3 bedroom homes increased by 36.8%, 4 bedroom homes increased by 15.4%, and 5+ bedroom homes increased by 133.3%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
11110.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in South Amboy, you could pay more than the asking price. 54.5% of homes here sold above asking price last month.

Summary: A total of 11 homes were sold or pending in South Amboy in March 2024, the same as the previous month. Of the 11 sold homes, 27% were sold under asking, 18% were sold at asking, and 55% were sold over asking.

Days on Market for South Amboy, NJ

How long does it take to sell a home in South Amboy, NJ?

Average Sale Time

Mar 2023Mar 2024CHANGE
41 Days51 Days+23.8%

Summary: Homes in South Amboy had an average of 51 days on market in Mar 2024, up by 23.8% compared to last year.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in South Amboy are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 11 homes were sold in South Amboy; 55% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 25 Days Ago

Newest Listings in South Amboy, NJ

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