Is Elizabeth, 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, Elizabeth was a Seller's Market.
Housing Prices in Elizabeth, NJ
How much do homes in Elizabeth, NJ cost?
Median Sold Price
$420,000
$284/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Elizabeth was $420,000 in April 2024, up 5% from last year, and the median price per square foot was $284.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $190K | $211.4K | +11.3% |
2 Bedrooms | $265.9K | $292.5K | +10.0% |
3 Bedrooms | $400K | $420K | +5.0% |
4 Bedrooms | $447K | $492.5K | +10.2% |
5+ Bedrooms | $482.5K | $577.5K | +19.7% |
Summary: Elizabeth housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.3%, 2 bedroom homes increased by 10%, 3 bedroom homes increased by 5%, 4 bedroom homes increased by 10.2%, and 5+ bedroom homes increased by 19.7%.
Median Sold Price Compared To Nearby Cities
Hillside | $410K | $445K | +8.5% |
Hillside Township | $410K | $445K | +8.5% |
Roselle | $412K | $445K | +8.0% |
Elizabeth | $400K | $420K | +5.0% |
Housing Supply in Elizabeth, NJ
How many homes are available in Elizabeth, NJ?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
187 | 216 | +15.5% |
Summary: The Elizabeth real estate market had 216 homes for sale in April 2024, a 15.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 3 | -25.0% |
2 Bedrooms | 32 | 29 | -9.4% |
3 Bedrooms | 32 | 35 | +9.4% |
4 Bedrooms | 36 | 39 | +8.3% |
5+ Bedrooms | 83 | 110 | +32.5% |
Summary: The Elizabeth housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes decreased by 9.4%, 3 bedroom homes increased by 9.4%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes increased by 32.5%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
18 | 15 | -16.7% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 15 homes were sold or pending in Elizabeth in April 2024, down by 16.7% month-over-month. Of the 15 sold homes, 20% were sold under asking, 20% were sold at asking, and 60% were sold over asking.
Days on Market for Elizabeth, NJ
We’re sorry, we don't have information for this market at the moment