Is Wayne Township, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Wayne Township was a Seller's Market.
Key Takeaway
Wayne Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Wayne Township, NJ
How much do homes in Wayne Township, NJ cost?
Median Sold Price
$635,000
$226/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Wayne Township have sold for 4.2% more than they did a year ago.
Summary: The median home sold price in Wayne Township was $635,000 in April 2024, up 4.2% from last year, and the median price per square foot was $226.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $248.5K | $273K | +9.9% |
| 2 Bedrooms | $426K | $460K | +8.0% |
| 3 Bedrooms | $570K | $603K | +5.8% |
| 4 Bedrooms | $702K | $729.5K | +3.9% |
| 5+ Bedrooms | $775K | $923.5K | +19.2% |
Summary: Wayne Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.9%, 2 bedroom homes increased by 8%, 3 bedroom homes increased by 5.8%, 4 bedroom homes increased by 3.9%, and 5+ bedroom homes increased by 19.2%.
Median Sold Price Compared To Nearby Cities
| Lincoln Park | $404K | $450K | +11.4% |
| Wayne Township | $609.2K | $635K | +4.2% |
| Wayne | $609.5K | $635.2K | +4.2% |
| Pequannock Township | $529K | $550K | +4.0% |
| Pequannock | $602.5K | $535K | -11.2% |
Housing Supply in Wayne Township, NJ
How many homes are available in Wayne Township, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 120 | 158 | +31.7% |
Summary: The Wayne Township real estate market had 158 homes for sale in April 2024, a 31.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 8 | +60.0% |
| 2 Bedrooms | 11 | 17 | +54.5% |
| 3 Bedrooms | 46 | 62 | +34.8% |
| 4 Bedrooms | 36 | 45 | +25.0% |
| 5+ Bedrooms | 22 | 26 | +18.2% |
Summary: The Wayne Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 60%, 2 bedroom homes increased by 54.5%, 3 bedroom homes increased by 34.8%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 18.2%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 24 | 22 | -8.3% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
15 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Wayne Township, you could pay more than the asking price. 68.2% of homes here sold above asking price last month.
Summary: A total of 22 homes were sold or pending in Wayne Township in April 2024, down by 8.3% month-over-month. Of the 22 sold homes, 27% were sold under asking, 5% were sold at asking, and 68% were sold over asking.
Days on Market for Wayne Township, NJ
How long does it take to sell a home in Wayne Township, NJ?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 11 Days | 45 Days | +309.1% |
Summary: Homes in Wayne Township had an average of 45 days on market in Apr 2024, up by 309.1% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Wayne Township has remained consistent over time.
Summary: During April 2024, 22 homes were sold in Wayne Township; 0% of homes were sold within 30 days, 5% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
