Is Pennsauken Township, 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, 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
$285,000
$194/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Pennsauken Township was $285,000 in May 2024, up 8.9% from last year, and the median price per square foot was $194.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $220K | $230K | +4.6% |
2 Bedrooms | $180K | $220K | +22.2% |
3 Bedrooms | $262.5K | $280K | +6.7% |
4 Bedrooms | $282K | $325K | +15.2% |
5+ Bedrooms | $345K | $307.4K | -10.9% |
Summary: Pennsauken Township housing prices by bedroom type for May 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 6.7%, 4 bedroom homes increased by 15.2%, and 5+ bedroom homes decreased by 10.9%.
Median Sold Price Compared To Nearby Cities
Pennsauken | $232.5K | $260K | +11.8% |
Pennsauken Township | $261.6K | $285K | +8.9% |
Cinnaminson Township | $360K | $390K | +8.3% |
Palmyra | $250K | $261K | +4.4% |
Merchantville | $330K | $290K | -12.1% |
Housing Supply in Pennsauken Township, NJ
How many homes are available in Pennsauken Township, NJ?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
102 | 116 | +13.7% |
Summary: The Pennsauken Township real estate market had 116 homes for sale in May 2024, a 13.7% 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 | 8 | 5 | -37.5% |
3 Bedrooms | 65 | 71 | +9.2% |
4 Bedrooms | 24 | 35 | +45.8% |
5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The Pennsauken 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 decreased by 37.5%, 3 bedroom homes increased by 9.2%, 4 bedroom homes increased by 45.8%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
19 | 27 | +42.1% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
21 Homes Were Sold
Over Asking
Summary: A total of 27 homes were sold or pending in Pennsauken Township in May 2024, up by 42.1% month-over-month. Of the 27 sold homes, 7% were sold under asking, 15% were sold at asking, and 78% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
43 Days | 19 Days | -55.3% |
Summary: Homes in Pennsauken Township had an average of 19 days on market in May 2024, down by 55.3% compared to last year.
Breakdown of Home Sale Times
22 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 27 homes were sold in Pennsauken Township; 81% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.