Is Chester Township, 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, Chester Township was a Seller's Market.
Key Takeaway
Chester Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Chester Township, NJ
How much do homes in Chester Township, NJ cost?
Median Sold Price
$971,000
-
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Chester Township have sold for 27.8% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $65K | - | N/A |
| 2 Bedrooms | $315K | $367.5K | +16.7% |
| 3 Bedrooms | $605K | $710K | +17.4% |
| 4 Bedrooms | $800K | $950K | +18.8% |
| 5+ Bedrooms | $1.3M | $1.3M | +5.7% |
Summary: Chester Township 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 16.7%, 3 bedroom homes increased by 17.4%, 4 bedroom homes increased by 18.8%, and 5+ bedroom homes increased by 5.7%.
Median Sold Price Compared To Nearby Cities
| Chester | $750K | $980.5K | +30.7% |
| Chester Township | $760K | $971K | +27.8% |
| Peapack and Gladstone | $893.7K | $1.0M | +20.4% |
| Mendham Township | $823K | $972K | +18.1% |
Housing Supply in Chester Township, NJ
How many homes are available in Chester Township, NJ?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 41 | 46 | +12.2% |
Summary: The Chester Township real estate market had 46 homes for sale in May 2024, a 12.2% 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 | 0 | 0.0% |
| 3 Bedrooms | 5 | 5 | 0.0% |
| 4 Bedrooms | 25 | 23 | -8.0% |
| 5+ Bedrooms | 11 | 18 | +63.6% |
Summary: The Chester Township 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 remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 8%, and 5+ bedroom homes increased by 63.6%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 10 | 6 | -40.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Chester Township, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 6 homes were sold or pending in Chester Township in May 2024, down by 40.0% month-over-month. Of the 6 sold homes, 0% were sold under asking, 33% were sold at asking, and 67% were sold over asking.
Days on Market for Chester Township, NJ
We’re sorry, we don't have information for this market at the moment
Disclaimer: The data relating to the real estate for sale on this web site comes in part from the Internet Data Exchange Program of the NJMLS. Real estate listings held by brokerage firms other than Rocket Homes Real Estate, LLC are marked with the Internet Data Exchange logo and information about them includes the name of the listing brokers. Some properties listed with the participating brokers do not appear on this website at the request of the seller. Listings of brokers that do not participate in Internet Data Exchange do not appear on this website.