Is Washington Township, 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, Washington Township was a Seller's Market.
Housing Prices in Washington Township, NJ
How much do homes in Washington Township, NJ cost?
Median Sold Price
$357,380
$194/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Washington Township was $357,380 in March 2024, up 6.7% from last year, and the median price per square foot was $194.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $170K | $172.4K | +1.4% |
2 Bedrooms | $210K | $238.9K | +13.8% |
3 Bedrooms | $311K | $346K | +11.3% |
4 Bedrooms | $439.9K | $450K | +2.3% |
5+ Bedrooms | $441.5K | $485K | +9.9% |
Summary: Washington Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.4%, 2 bedroom homes increased by 13.8%, 3 bedroom homes increased by 11.3%, 4 bedroom homes increased by 2.3%, and 5+ bedroom homes increased by 9.9%.
Housing Supply in Washington Township, NJ
How many homes are available in Washington Township, NJ?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
221 | 241 | +9.0% |
Summary: The Washington Township real estate market had 241 homes for sale in March 2024, a 9.0% 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 | 46 | 50 | +8.7% |
3 Bedrooms | 84 | 84 | 0.0% |
4 Bedrooms | 72 | 84 | +16.7% |
5+ Bedrooms | 13 | 18 | +38.5% |
Summary: The Washington Township 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 8.7%, 3 bedroom homes remained the same, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes increased by 38.5%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
36 | 39 | +8.3% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
21 Homes Were Sold
Over Asking
Summary: A total of 39 homes were sold or pending in Washington Township in March 2024, up by 8.3% month-over-month. Of the 39 sold homes, 28% were sold under asking, 18% were sold at asking, and 54% were sold over asking.
Days on Market for Washington Township, NJ
How long does it take to sell a home in Washington Township, NJ?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
26 Days | 44 Days | +67.8% |
Summary: Homes in Washington Township had an average of 44 days on market in Mar 2024, up by 67.8% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During March 2024, 39 homes were sold in Washington Township; 44% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.