Is Hillsborough 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, Hillsborough Township has remained a Seller's Market.
Housing Prices in Hillsborough Township, NJ
How much do homes in Hillsborough Township, NJ cost?
Median Sold Price
$525,000
$302/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Hillsborough Township was $525,000 in April 2024, up 8.2% from last year, and the median price per square foot was $302.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $185K | $235K | +27.0% |
2 Bedrooms | $340K | $400K | +17.6% |
3 Bedrooms | $477K | $535K | +12.2% |
4 Bedrooms | $700K | $768K | +9.7% |
5+ Bedrooms | $755K | $890.5K | +17.9% |
Summary: Hillsborough Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 27%, 2 bedroom homes increased by 17.6%, 3 bedroom homes increased by 12.2%, 4 bedroom homes increased by 9.7%, and 5+ bedroom homes increased by 17.9%.
Median Sold Price Compared To Nearby Cities
Branchburg Township | $536.9K | $605K | +12.7% |
Hillsborough | $483K | $525K | +8.7% |
Hillsborough Township | $485.3K | $525K | +8.2% |
Neshanic Station | $710K | $640K | -9.9% |
Housing Supply in Hillsborough Township, NJ
How many homes are available in Hillsborough Township, NJ?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
101 | 134 | +32.7% |
Summary: The Hillsborough Township real estate market had 134 homes for sale in April 2024, a 32.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 6 | +50.0% |
2 Bedrooms | 25 | 29 | +16.0% |
3 Bedrooms | 36 | 40 | +11.1% |
4 Bedrooms | 28 | 46 | +64.3% |
5+ Bedrooms | 8 | 13 | +62.5% |
Summary: The Hillsborough Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 16%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 64.3%, and 5+ bedroom homes increased by 62.5%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
19 | 31 | +63.2% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
25 Homes Were Sold
Over Asking
Summary: A total of 31 homes were sold or pending in Hillsborough Township in April 2024, up by 63.2% month-over-month. Of the 31 sold homes, 13% were sold under asking, 6% were sold at asking, and 81% were sold over asking.
Days on Market for Hillsborough Township, NJ
How long does it take to sell a home in Hillsborough Township, NJ?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
105 Days | 27 Days | -74.4% |
Summary: Homes in Hillsborough Township had an average of 27 days on market in Apr 2024, down by 74.4% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 31 homes were sold in Hillsborough Township; 10% 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.