Is Vernon 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, Vernon Township was a Seller's Market.
Key Takeaway
Vernon Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Vernon Township, NJ
How much do homes in Vernon Township, NJ cost?
Median Sold Price
$318,366
$161/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Vernon Township have sold for 11.7% more than they did a year ago.
Summary: The median home sold price in Vernon Township was $318,366 in April 2024, up 11.7% from last year, and the median price per square foot was $161.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $145K | $167K | +15.2% |
| 2 Bedrooms | $215K | $250K | +16.3% |
| 3 Bedrooms | $325K | $350K | +7.7% |
| 4 Bedrooms | $422.5K | $491K | +16.2% |
| 5+ Bedrooms | $575K | $487.5K | -15.2% |
Summary: Vernon Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.2%, 2 bedroom homes increased by 16.3%, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 16.2%, and 5+ bedroom homes decreased by 15.2%.
Median Sold Price Compared To Nearby Cities
| Vernon | $220K | $251K | +14.1% |
| Highland Lakes | $312K | $350K | +12.2% |
| Vernon Township | $285K | $318.3K | +11.7% |
| Wantage Township | $372.5K | $410K | +10.1% |
| Glenwood | $387.4K | $330K | -14.8% |
Housing Supply in Vernon Township, NJ
How many homes are available in Vernon Township, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 174 | 195 | +12.1% |
Summary: The Vernon Township real estate market had 195 homes for sale in April 2024, a 12.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 21 | 29 | +38.1% |
| 2 Bedrooms | 57 | 55 | -3.5% |
| 3 Bedrooms | 75 | 80 | +6.7% |
| 4 Bedrooms | 20 | 30 | +50.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Vernon Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 38.1%, 2 bedroom homes decreased by 3.5%, 3 bedroom homes increased by 6.7%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 44 | 15 | -65.9% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Vernon Township, you could pay more than the asking price. 46.7% of homes here sold above asking price last month.
Summary: A total of 15 homes were sold or pending in Vernon Township in April 2024, down by 65.9% month-over-month. Of the 15 sold homes, 20% were sold under asking, 33% were sold at asking, and 47% were sold over asking.
Days on Market for Vernon Township, NJ
We’re sorry, we don't have information for this market at the moment
Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement.