Is Union Township, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Union Township has remained a Seller's Market.
Housing Prices in Union Township, NJ
How much do homes in Union Township, NJ cost?
Median Sold Price
$520,000
$285/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Union Township was $520,000 in April 2024, up 8.7% from last year, and the median price per square foot was $285.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $183.7K | $210.8K | +14.7% |
2 Bedrooms | $380K | $407K | +7.1% |
3 Bedrooms | $475K | $520K | +9.5% |
4 Bedrooms | $515K | $563K | +9.3% |
5+ Bedrooms | $637.5K | $690K | +8.2% |
Summary: Union Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.7%, 2 bedroom homes increased by 7.1%, 3 bedroom homes increased by 9.5%, 4 bedroom homes increased by 9.3%, and 5+ bedroom homes increased by 8.2%.
Median Sold Price Compared To Nearby Cities
Kenilworth | $490.5K | $575K | +17.2% |
Union Township | $478.3K | $520K | +8.7% |
Hillside Township | $410K | $445K | +8.5% |
Union | $480K | $520K | +8.3% |
Housing Supply in Union Township, NJ
How many homes are available in Union Township, NJ?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
131 | 146 | +11.5% |
Summary: The Union Township real estate market had 146 homes for sale in April 2024, a 11.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 5 | 3 | -40.0% |
2 Bedrooms | 22 | 19 | -13.6% |
3 Bedrooms | 59 | 74 | +25.4% |
4 Bedrooms | 32 | 34 | +6.3% |
5+ Bedrooms | 13 | 16 | +23.1% |
Summary: The Union Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 40%, 2 bedroom homes decreased by 13.6%, 3 bedroom homes increased by 25.4%, 4 bedroom homes increased by 6.3%, and 5+ bedroom homes increased by 23.1%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
28 | 28 | 0.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
23 Homes Were Sold
Over Asking
Summary: A total of 28 homes were sold or pending in Union Township in April 2024, the same as the previous month. Of the 28 sold homes, 14% were sold under asking, 4% were sold at asking, and 82% were sold over asking.
Days on Market for Union Township, NJ
How long does it take to sell a home in Union Township, NJ?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
6 Days | 13 Days | +116.7% |
Summary: Homes in Union Township had an average of 13 days on market in Apr 2024, up by 116.7% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 28 homes were sold in Union Township; 11% 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.