Is Galloway Township, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Galloway Township has remained a Seller's Market.
Housing Prices in Galloway Township, NJ
How much do homes in Galloway Township, NJ cost?
Median Sold Price
$290,000
$187/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Galloway Township was $290,000 in April 2024, up 7.4% from last year, and the median price per square foot was $187.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $125.5K | $166.5K | +32.7% |
2 Bedrooms | $179.9K | $211.7K | +17.7% |
3 Bedrooms | $309.5K | $340K | +9.9% |
4 Bedrooms | $380K | $405K | +6.6% |
5+ Bedrooms | $450K | $465K | +3.3% |
Summary: Galloway Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 32.7%, 2 bedroom homes increased by 17.7%, 3 bedroom homes increased by 9.9%, 4 bedroom homes increased by 6.6%, and 5+ bedroom homes increased by 3.3%.
Median Sold Price Compared To Nearby Cities
Brigantine | $525.2K | $580K | +10.4% |
Galloway Township | $270K | $290K | +7.4% |
Egg Harbor City | $262.5K | $274.9K | +4.7% |
Absecon | $290K | $299.9K | +3.4% |
Housing Supply in Galloway Township, NJ
How many homes are available in Galloway Township, NJ?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
153 | 161 | +5.2% |
Summary: The Galloway Township real estate market had 161 homes for sale in April 2024, a 5.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 5 | 6 | +20.0% |
2 Bedrooms | 46 | 46 | 0.0% |
3 Bedrooms | 61 | 68 | +11.5% |
4 Bedrooms | 28 | 26 | -7.1% |
5+ Bedrooms | 13 | 15 | +15.4% |
Summary: The Galloway Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes remained the same, 3 bedroom homes increased by 11.5%, 4 bedroom homes decreased by 7.1%, and 5+ bedroom homes increased by 15.4%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
34 | 48 | +41.2% |
Asking Price vs. Sold Price
20 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Summary: A total of 48 homes were sold or pending in Galloway Township in April 2024, up by 41.2% month-over-month. Of the 41 sold homes, 49% were sold under asking, 17% were sold at asking, and 34% were sold over asking.
Days on Market for Galloway Township, NJ
How long does it take to sell a home in Galloway Township, NJ?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
46 Days | 33 Days | -27.5% |
Summary: Homes in Galloway Township had an average of 33 days on market in Apr 2024, down by 27.5% compared to last year.
Breakdown of Home Sale Times
30 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Summary: During April 2024, 48 homes were sold in Galloway Township; 63% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.