Is Pitman, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Pitman has remained a Seller's Market.
Key Takeaway
Pitman is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Pitman, NJ
How much do homes in Pitman, NJ cost?
Median Sold Price
$320,000
$199/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Pitman have sold for 20.4% more than they did a year ago.
Summary: The median home sold price in Pitman was $320,000 in April 2024, up 20.4% from last year, and the median price per square foot was $199.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $147K | - | N/A |
| 2 Bedrooms | $186.2K | $229K | +23.0% |
| 3 Bedrooms | $261.5K | $320K | +22.4% |
| 4 Bedrooms | $326.5K | $359K | +10.0% |
| 5+ Bedrooms | $399.9K | $422.5K | +5.6% |
Summary: Pitman housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 23%, 3 bedroom homes increased by 22.4%, 4 bedroom homes increased by 10%, and 5+ bedroom homes increased by 5.6%.
Median Sold Price Compared To Nearby Cities
| Pitman | $265.7K | $320K | +20.4% |
| Glassboro | $284K | $339.9K | +19.7% |
| Mantua Township | $265K | $292.5K | +10.4% |
| Washington Township | $335.2K | $359.9K | +7.4% |
| Sewell | $347.5K | $360K | +3.6% |
Housing Supply in Pitman, NJ
How many homes are available in Pitman, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 18 | 24 | +33.3% |
Summary: The Pitman real estate market had 24 homes for sale in April 2024, a 33.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 8 | 11 | +37.5% |
| 4 Bedrooms | 5 | 5 | 0.0% |
| 5+ Bedrooms | 2 | 4 | +100.0% |
Summary: The Pitman housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 37.5%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 7 | 5 | -28.6% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Pitman, you could pay more than the asking price. 80% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in Pitman in April 2024, down by 28.6% month-over-month. Of the 5 sold homes, 0% were sold under asking, 20% were sold at asking, and 80% were sold over asking.
Days on Market for Pitman, NJ
How long does it take to sell a home in Pitman, NJ?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 8 Days | 9 Days | +18.3% |
Summary: Homes in Pitman had an average of 9 days on market in Apr 2024, up by 18.3% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Pitman are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 5 homes were sold in Pitman; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
