Is Dunellen, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Dunellen was a Buyer's Market.
Key Takeaway
Dunellen is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Dunellen, NJ
How much do homes in Dunellen, NJ cost?
Median Sold Price
$515,000
$307/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Dunellen have sold for 14.1% more than they did a year ago.
Summary: The median home sold price in Dunellen was $515,000 in May 2024, up 14.1% from last year, and the median price per square foot was $307.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $202.2K | N/A |
| 2 Bedrooms | $335K | $440K | +31.3% |
| 3 Bedrooms | $416K | $487.5K | +17.2% |
| 4 Bedrooms | $552.5K | $570K | +3.2% |
| 5+ Bedrooms | $790K | $715K | -9.5% |
Summary: Dunellen housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 31.3%, 3 bedroom homes increased by 17.2%, 4 bedroom homes increased by 3.2%, and 5+ bedroom homes decreased by 9.5%.
Median Sold Price Compared To Nearby Cities
| Dunellen | $410K | $495K | +20.7% |
| North Plainfield | $390K | $460K | +17.9% |
| Dunellen | $451.2K | $515K | +14.1% |
| Middlesex | $410K | $445K | +8.5% |
| Green Brook Township | $575K | $570K | -0.9% |
Housing Supply in Dunellen, NJ
How many homes are available in Dunellen, NJ?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 50 | 48 | -4.0% |
Summary: The Dunellen real estate market had 48 homes for sale in May 2024, a 4.0% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 10 | 7 | -30.0% |
| 3 Bedrooms | 21 | 21 | 0.0% |
| 4 Bedrooms | 14 | 16 | +14.3% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The Dunellen housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 30%, 3 bedroom homes remained the same, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 18 | 9 | -50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Dunellen, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 9 homes were sold or pending in Dunellen in May 2024, down by 50.0% month-over-month. Of the 9 sold homes, 11% were sold under asking, 22% were sold at asking, and 67% were sold over asking.
Days on Market for Dunellen, NJ
How long does it take to sell a home in Dunellen, NJ?
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Dunellen are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 9 homes were sold in Dunellen; 33% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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