Is West Berlin, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, West Berlin has remained a Seller's Market.
Key Takeaway
West Berlin is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in West Berlin, NJ
How much do homes in West Berlin, NJ cost?
Median Sold Price
$339,999
$231/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in West Berlin have sold for 25% more than they did a year ago.
Summary: The median home sold price in West Berlin was $339,999 in May 2024, up 25% from last year, and the median price per square foot was $231.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $193K | $310K | +60.6% |
| 3 Bedrooms | $272.5K | $340K | +24.8% |
| 4 Bedrooms | $326.3K | $340K | +4.2% |
| 5+ Bedrooms | $315K | $339.9K | +7.9% |
Summary: West Berlin 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 increased by 60.6%, 3 bedroom homes increased by 24.8%, 4 bedroom homes increased by 4.2%, and 5+ bedroom homes increased by 7.9%.
Median Sold Price Compared To Nearby Cities
| Berlin Township | $283.7K | $358.5K | +26.3% |
| West Berlin | $272K | $339.9K | +25.0% |
| Berlin | $310K | $360K | +16.1% |
| Evesham Township | $363.6K | $420.3K | +15.6% |
| Voorhees | $381K | $408.8K | +7.3% |
Housing Supply in West Berlin, NJ
How many homes are available in West Berlin, NJ?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 14 | 22 | +57.1% |
Summary: The West Berlin real estate market had 22 homes for sale in May 2024, a 57.1% 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 | 0 | 2 | +100.0% |
| 3 Bedrooms | 11 | 13 | +18.2% |
| 4 Bedrooms | 3 | 7 | +133.3% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The West Berlin 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 100%, 3 bedroom homes increased by 18.2%, 4 bedroom homes increased by 133.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 5 | 5 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in West Berlin, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in West Berlin in May 2024, the same as the previous month. Of the 5 sold homes, 20% were sold under asking, 20% were sold at asking, and 60% were sold over asking.
Days on Market for West Berlin, NJ
How long does it take to sell a home in West Berlin, NJ?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 39 Days | 64 Days | +64.2% |
Summary: Homes in West Berlin had an average of 64 days on market in May 2024, up by 64.2% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in West Berlin are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 5 homes were sold in West Berlin; 40% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
