Is Union, 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, Union was a Seller's Market.
Key Takeaway
Union 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 Union, NJ
How much do homes in Union, NJ cost?
Median Sold Price
$520,000
$285/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Union have sold for 9.1% more than they did a year ago.
Summary: The median home sold price in Union was $520,000 in March 2024, up 9.1% from last year, and the median price per square foot was $285.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $181K | $205.4K | +13.5% |
| 2 Bedrooms | $388K | $405K | +4.4% |
| 3 Bedrooms | $474.5K | $518K | +9.2% |
| 4 Bedrooms | $515K | $560.5K | +8.8% |
| 5+ Bedrooms | $650K | $685K | +5.4% |
Summary: Union housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.5%, 2 bedroom homes increased by 4.4%, 3 bedroom homes increased by 9.2%, 4 bedroom homes increased by 8.8%, and 5+ bedroom homes increased by 5.4%.
Median Sold Price Compared To Nearby Cities
| Kenilworth | $485K | $580K | +19.6% |
| Union | $476.8K | $520K | +9.1% |
| Union Township | $475.3K | $515.5K | +8.4% |
| Hillside Township | $409.5K | $442K | +7.9% |
| Roselle Park | $450.5K | $486K | +7.9% |
Housing Supply in Union, NJ
How many homes are available in Union, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 104 | 126 | +21.2% |
Summary: The Union real estate market had 126 homes for sale in March 2024, a 21.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 5 | -16.7% |
| 2 Bedrooms | 12 | 19 | +58.3% |
| 3 Bedrooms | 45 | 55 | +22.2% |
| 4 Bedrooms | 27 | 32 | +18.5% |
| 5+ Bedrooms | 14 | 15 | +7.1% |
Summary: The Union housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 16.7%, 2 bedroom homes increased by 58.3%, 3 bedroom homes increased by 22.2%, 4 bedroom homes increased by 18.5%, and 5+ bedroom homes increased by 7.1%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 22 | 20 | -9.1% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
17 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Union, you could pay more than the asking price. 85% of homes here sold above asking price last month.
Summary: A total of 20 homes were sold or pending in Union in March 2024, down by 9.1% month-over-month. Of the 20 sold homes, 10% were sold under asking, 5% were sold at asking, and 85% were sold over asking.
Days on Market for Union, NJ
How long does it take to sell a home in Union, NJ?
Breakdown of Home Sale Times
2 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 Union are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 20 homes were sold in Union; 10% 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.
The data relating to real estate for sale on this web-site comes in part from the Internet Listing Display database of the CENTRAL JERSEY MULTIPLE LISTING SYSTEM. Real estate listings held by brokerage firms other than this site-owner are marked with the ILD logo. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM does not warrant the accuracy, quality, reliability, suitability, completeness, usefulness or effectiveness of any information provided. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify properties the consumer may be interested in purchasing or renting. Copyright 2024, CENTRAL JERSEY MULTIPLE LISTING SYSTEM. All Rights Reserved. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM retains all rights, title and interest in and to its trademarks, service marks and copyrighted material.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Monmouth/Ocean MLS Monmouth County Association Board of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright © 2024 Monmouth/Ocean MLS Monmouth County Association Board of Realtors. All Rights Reserved.