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.
Key Takeaway
Washington Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Washington Township, NJ
How much do homes in Washington Township, NJ cost?
Median Sold Price
$510,000
$234/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Washington Township have sold for 5.7% more than they did a year ago.
Summary: The median home sold price in Washington Township was $510,000 in March 2024, up 5.7% from last year, and the median price per square foot was $234.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $185K | $571K | +208.6% |
| 2 Bedrooms | $260K | $315K | +21.2% |
| 3 Bedrooms | $350K | $375K | +7.1% |
| 4 Bedrooms | $600K | $649.5K | +8.3% |
| 5+ Bedrooms | $650K | $788.5K | +21.3% |
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 208.6%, 2 bedroom homes increased by 21.2%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes increased by 21.3%.
Median Sold Price Compared To Nearby Cities
| Chester Township | $743.7K | $976K | +31.2% |
| Long Valley | $620K | $711K | +14.7% |
| Mansfield Township | $355K | $387.2K | +9.1% |
| Washington Township | $482.5K | $510K | +5.7% |
| Port Murray | $448.5K | $390K | -13.0% |
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 |
|---|---|---|
| 93 | 106 | +14.0% |
Summary: The Washington Township real estate market had 106 homes for sale in March 2024, a 14.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 9 | 16 | +77.8% |
| 3 Bedrooms | 32 | 32 | 0.0% |
| 4 Bedrooms | 42 | 47 | +11.9% |
| 5+ Bedrooms | 10 | 11 | +10.0% |
Summary: The Washington Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 77.8%, 3 bedroom homes remained the same, 4 bedroom homes increased by 11.9%, and 5+ bedroom homes increased by 10%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 15 | 14 | -6.7% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Washington Township, you could pay more than the asking price. 78.6% of homes here sold above asking price last month.
Summary: A total of 14 homes were sold or pending in Washington Township in March 2024, down by 6.7% month-over-month. Of the 14 sold homes, 0% were sold under asking, 21% were sold at asking, and 79% 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 |
|---|---|---|
| 79 Days | 24 Days | -69.0% |
Summary: Homes in Washington Township had an average of 24 days on market in Mar 2024, down by 69% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Washington Township are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 14 homes were sold in Washington Township; 7% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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