Is Bedminster, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Bedminster has remained a Seller's Market.
Key Takeaway
Bedminster is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Bedminster, NJ
How much do homes in Bedminster, NJ cost?
Median Sold Price
$467,500
$393/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Bedminster have sold for 10% more than they did a year ago.
Summary: The median home sold price in Bedminster was $467,500 in May 2024, up 10% from last year, and the median price per square foot was $393.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $257K | $299K | +16.3% |
| 2 Bedrooms | $399K | $435K | +9.0% |
| 3 Bedrooms | $555K | $622.5K | +12.2% |
| 4 Bedrooms | $807.5K | $912.5K | +13.0% |
| 5+ Bedrooms | $1.5M | $999.9K | -35.5% |
Summary: Bedminster housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.3%, 2 bedroom homes increased by 9%, 3 bedroom homes increased by 12.2%, 4 bedroom homes increased by 13%, and 5+ bedroom homes decreased by 35.5%.
Median Sold Price Compared To Nearby Cities
| Far Hills | $1.1M | $1.5M | +35.5% |
| Peapack and Gladstone | $893.7K | $1.0M | +20.4% |
| Bedminster | $425K | $467.5K | +10.0% |
| Bedminster Township | $430K | $467.5K | +8.7% |
Housing Supply in Bedminster, NJ
How many homes are available in Bedminster, NJ?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 49 | 54 | +10.2% |
Summary: The Bedminster real estate market had 54 homes for sale in May 2024, a 10.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 4 | -20.0% |
| 2 Bedrooms | 26 | 29 | +11.5% |
| 3 Bedrooms | 11 | 14 | +27.3% |
| 4 Bedrooms | 5 | 5 | 0.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Bedminster housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 20%, 2 bedroom homes increased by 11.5%, 3 bedroom homes increased by 27.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 8 | 15 | +87.5% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Bedminster, you could pay more than the asking price. 73.3% of homes here sold above asking price last month.
Summary: A total of 15 homes were sold or pending in Bedminster in May 2024, up by 87.5% month-over-month. Of the 15 sold homes, 13% were sold under asking, 13% were sold at asking, and 73% were sold over asking.
Days on Market for Bedminster, NJ
How long does it take to sell a home in Bedminster, NJ?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 5 Days | 11 Days | +120.0% |
Summary: Homes in Bedminster had an average of 11 days on market in May 2024, up by 120% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Bedminster are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 15 homes were sold in Bedminster; 7% 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.
