Is South River, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, South River was a Seller's Market.
Housing Prices in South River, NJ
How much do homes in South River, NJ cost?
Median Sold Price
$437,500
$293/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in South River was $437,500 in May 2024, up 6.1% from last year, and the median price per square foot was $293.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $350K | N/A |
2 Bedrooms | $325K | $303.7K | -6.5% |
3 Bedrooms | $390K | $410K | +5.1% |
4 Bedrooms | $485K | $515K | +6.2% |
5+ Bedrooms | $477.4K | $569K | +19.2% |
Summary: South River housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 6.5%, 3 bedroom homes increased by 5.1%, 4 bedroom homes increased by 6.2%, and 5+ bedroom homes increased by 19.2%.
Median Sold Price Compared To Nearby Cities
East Brunswick Township | $485.5K | $561.8K | +15.7% |
East Brunswick | $485K | $555.2K | +14.5% |
Sayreville | $415.6K | $450K | +8.3% |
South River | $412.5K | $437.5K | +6.1% |
Housing Supply in South River, NJ
How many homes are available in South River, NJ?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
35 | 47 | +34.3% |
Summary: The South River real estate market had 47 homes for sale in May 2024, a 34.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 5 | 9 | +80.0% |
3 Bedrooms | 19 | 23 | +21.1% |
4 Bedrooms | 7 | 11 | +57.1% |
5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The South River housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 80%, 3 bedroom homes increased by 21.1%, 4 bedroom homes increased by 57.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
3 | 6 | +100.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 6 homes were sold or pending in South River in May 2024, up by 100.0% month-over-month. Of the 6 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for South River, NJ
How long does it take to sell a home in South River, NJ?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
20 Days | 9 Days | -54.0% |
Summary: Homes in South River had an average of 9 days on market in May 2024, down by 54% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 6 homes were sold in South River; 83% 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.