Is 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, Berlin has remained a Seller's Market.
Key Takeaway
Berlin is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Berlin, NJ
How much do homes in Berlin, NJ cost?
Median Sold Price
$360,000
$199/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Berlin have sold for 16.1% more than they did a year ago.
Summary: The median home sold price in Berlin was $360,000 in May 2024, up 16.1% from last year, and the median price per square foot was $199.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $117.4K | $142K | +20.9% |
| 2 Bedrooms | $276K | $355K | +28.6% |
| 3 Bedrooms | $279.9K | $331K | +18.2% |
| 4 Bedrooms | $433K | $425K | -1.8% |
| 5+ Bedrooms | $350K | $484.5K | +38.4% |
Summary: Berlin housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 20.9%, 2 bedroom homes increased by 28.6%, 3 bedroom homes increased by 18.2%, 4 bedroom homes decreased by 1.8%, and 5+ bedroom homes increased by 38.4%.
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% |
| Atco | $286K | $320K | +11.9% |
| Lindenwold | $225K | $235K | +4.4% |
Housing Supply in Berlin, NJ
How many homes are available in Berlin, NJ?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 38 | 49 | +28.9% |
Summary: The Berlin real estate market had 49 homes for sale in May 2024, a 28.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 6 | 4 | -33.3% |
| 3 Bedrooms | 20 | 26 | +30.0% |
| 4 Bedrooms | 8 | 13 | +62.5% |
| 5+ Bedrooms | 3 | 6 | +100.0% |
Summary: The Berlin housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 33.3%, 3 bedroom homes increased by 30%, 4 bedroom homes increased by 62.5%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 9 | 9 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Berlin, you could pay more than the asking price. 55.6% of homes here sold above asking price last month.
Summary: A total of 9 homes were sold or pending in Berlin in May 2024, the same as the previous month. Of the 9 sold homes, 22% were sold under asking, 22% were sold at asking, and 56% were sold over asking.
Days on Market for Berlin, NJ
How long does it take to sell a home in Berlin, NJ?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 59 Days | 16 Days | -72.6% |
Summary: Homes in Berlin had an average of 16 days on market in May 2024, down by 72.6% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Berlin are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 9 homes were sold in Berlin; 78% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Monmouth/Ocean MLS Monmouth County Association Board of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright © 2024 Monmouth/Ocean MLS Monmouth County Association Board of Realtors. All Rights Reserved.
Disclaimer: The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the South Jersey Shore Regional (SJSR) MLS. Real estate listings held by brokerage firms are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. © 2024 SJSR MLS. All rights reserved.