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.
Key Takeaway
Union Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Union Township, NJ
How much do homes in Union Township, NJ cost?
Median Sold Price
$516,111
$269/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Union Township have sold for 7.5% more than they did a year ago.
Summary: The median home sold price in Union Township was $516,111 in April 2024, up 7.5% from last year, and the median price per square foot was $269.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $199.4K | $240K | +20.3% |
| 2 Bedrooms | $385K | $399.9K | +3.9% |
| 3 Bedrooms | $475K | $520K | +9.5% |
| 4 Bedrooms | $531K | $570K | +7.3% |
| 5+ Bedrooms | $744.2K | $690K | -7.3% |
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 20.3%, 2 bedroom homes increased by 3.9%, 3 bedroom homes increased by 9.5%, 4 bedroom homes increased by 7.3%, and 5+ bedroom homes decreased by 7.3%.
Median Sold Price Compared To Nearby Cities
| Franklin Township | $304K | $410.3K | +35.0% |
| Pittstown | $700K | $780K | +11.4% |
| Union Township | $480K | $516.1K | +7.5% |
| Alexandria Township | $565K | $592.3K | +4.8% |
| Clinton | $425K | $388.5K | -8.6% |
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 |
|---|---|---|
| 153 | 171 | +11.8% |
Summary: The Union Township real estate market had 171 homes for sale in April 2024, a 11.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 13 | 10 | -23.1% |
| 2 Bedrooms | 22 | 21 | -4.5% |
| 3 Bedrooms | 59 | 74 | +25.4% |
| 4 Bedrooms | 41 | 47 | +14.6% |
| 5+ Bedrooms | 18 | 19 | +5.6% |
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 23.1%, 2 bedroom homes decreased by 4.5%, 3 bedroom homes increased by 25.4%, 4 bedroom homes increased by 14.6%, and 5+ bedroom homes increased by 5.6%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 30 | 33 | +10.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
26 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Union Township, you could pay more than the asking price. 78.8% of homes here sold above asking price last month.
Summary: A total of 33 homes were sold or pending in Union Township in April 2024, up by 10.0% month-over-month. Of the 33 sold homes, 12% were sold under asking, 9% were sold at asking, and 79% 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
Key Takeaway
Many homes in Union Township are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 33 homes were sold in Union Township; 9% 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.