Is Pennsauken 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, Pennsauken Township has remained a Seller's Market.
Housing Prices in Pennsauken Township, NJ
How much do homes in Pennsauken Township, NJ cost?
Median Sold Price
$280,000
$193/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Pennsauken Township was $280,000 in April 2024, up 6.5% from last year, and the median price per square foot was $193.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $220K | $230K | +4.6% |
2 Bedrooms | $180K | $220K | +22.2% |
3 Bedrooms | $260.3K | $275K | +5.6% |
4 Bedrooms | $292K | $320K | +9.6% |
5+ Bedrooms | $345K | $285K | -17.4% |
Summary: Pennsauken Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.6%, 2 bedroom homes increased by 22.2%, 3 bedroom homes increased by 5.6%, 4 bedroom homes increased by 9.6%, and 5+ bedroom homes decreased by 17.4%.
Median Sold Price Compared To Nearby Cities
Pennsauken | $230K | $259.9K | +13.0% |
Cinnaminson Township | $360K | $393K | +9.2% |
Pennsauken Township | $262.8K | $280K | +6.5% |
Palmyra | $250K | $262K | +4.8% |
Merchantville | $380K | $305K | -19.7% |
Housing Supply in Pennsauken Township, NJ
How many homes are available in Pennsauken Township, NJ?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
103 | 96 | -6.8% |
Summary: The Pennsauken Township real estate market had 96 homes for sale in April 2024, a 6.8% decrease 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 | 9 | 8 | -11.1% |
3 Bedrooms | 63 | 59 | -6.3% |
4 Bedrooms | 24 | 23 | -4.2% |
5+ Bedrooms | 7 | 6 | -14.3% |
Summary: The Pennsauken 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 decreased by 11.1%, 3 bedroom homes decreased by 6.3%, 4 bedroom homes decreased by 4.2%, and 5+ bedroom homes decreased by 14.3%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
33 | 18 | -45.5% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Summary: A total of 18 homes were sold or pending in Pennsauken Township in April 2024, down by 45.5% month-over-month. Of the 18 sold homes, 17% were sold under asking, 0% were sold at asking, and 83% were sold over asking.
Days on Market for Pennsauken Township, NJ
How long does it take to sell a home in Pennsauken Township, NJ?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
20 Days | 34 Days | +70.3% |
Summary: Homes in Pennsauken Township had an average of 34 days on market in Apr 2024, up by 70.3% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 18 homes were sold in Pennsauken Township; 78% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.