Is Hopewell Township, 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, Hopewell Township was a Seller's Market.
Housing Prices in Hopewell Township, NJ
How much do homes in Hopewell Township, NJ cost?
Median Sold Price
$622,500
$288/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Hopewell Township was $622,500 in April 2024, up 9.6% from last year, and the median price per square foot was $288.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $360K | N/A |
2 Bedrooms | $382.5K | $399.9K | +4.6% |
3 Bedrooms | $483.7K | $540.2K | +11.7% |
4 Bedrooms | $740K | $725K | -2.0% |
5+ Bedrooms | $974.7K | $992.2K | +1.8% |
Summary: Hopewell Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 4.6%, 3 bedroom homes increased by 11.7%, 4 bedroom homes decreased by 2%, and 5+ bedroom homes increased by 1.8%.
Median Sold Price Compared To Nearby Cities
West Amwell Township | $535K | $675K | +26.2% |
Hopewell | $517.5K | $647.5K | +25.1% |
Hopewell Township | $567.7K | $622.5K | +9.6% |
Pennington | $591.5K | $615.1K | +4.0% |
Titusville | $586.5K | $515K | -12.2% |
Housing Supply in Hopewell Township, NJ
How many homes are available in Hopewell Township, NJ?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
73 | 88 | +20.5% |
Summary: The Hopewell Township real estate market had 88 homes for sale in April 2024, a 20.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 7 | 12 | +71.4% |
3 Bedrooms | 25 | 25 | 0.0% |
4 Bedrooms | 25 | 33 | +32.0% |
5+ Bedrooms | 16 | 18 | +12.5% |
Summary: The Hopewell Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 71.4%, 3 bedroom homes remained the same, 4 bedroom homes increased by 32%, and 5+ bedroom homes increased by 12.5%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
19 | 13 | -31.6% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 13 homes were sold or pending in Hopewell Township in April 2024, down by 31.6% month-over-month. Of the 13 sold homes, 54% were sold under asking, 0% were sold at asking, and 46% were sold over asking.
Days on Market for Hopewell Township, NJ
How long does it take to sell a home in Hopewell Township, NJ?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
38 Days | 32 Days | -14.4% |
Summary: Homes in Hopewell Township had an average of 32 days on market in Apr 2024, down by 14.4% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 13 homes were sold in Hopewell Township; 69% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.