Is Sewell, 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, Sewell has remained a Seller's Market.
Key Takeaway
Sewell is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Sewell, NJ
How much do homes in Sewell, NJ cost?
Median Sold Price
$360,000
$196/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Sewell have sold for 3.6% more than they did a year ago.
Summary: The median home sold price in Sewell was $360,000 in April 2024, up 3.6% from last year, and the median price per square foot was $196.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $180K | $190.5K | +5.8% |
| 2 Bedrooms | $214K | $240K | +12.1% |
| 3 Bedrooms | $330.5K | $358K | +8.3% |
| 4 Bedrooms | $474.9K | $469.9K | -1.1% |
| 5+ Bedrooms | $567.5K | $586K | +3.3% |
Summary: Sewell housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.8%, 2 bedroom homes increased by 12.1%, 3 bedroom homes increased by 8.3%, 4 bedroom homes decreased by 1.1%, and 5+ bedroom homes increased by 3.3%.
Median Sold Price Compared To Nearby Cities
| Pitman | $265.7K | $320K | +20.4% |
| Mantua Township | $265K | $292.5K | +10.4% |
| Washington Township | $335.2K | $359.9K | +7.4% |
| Sewell | $347.5K | $360K | +3.6% |
Housing Supply in Sewell, NJ
How many homes are available in Sewell, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 109 | 106 | -2.8% |
Summary: The Sewell real estate market had 106 homes for sale in April 2024, a 2.8% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 0 | -100.0% |
| 2 Bedrooms | 27 | 32 | +18.5% |
| 3 Bedrooms | 42 | 37 | -11.9% |
| 4 Bedrooms | 34 | 34 | 0.0% |
| 5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The Sewell housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 18.5%, 3 bedroom homes decreased by 11.9%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 32 | 34 | +6.3% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
23 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Sewell, you could pay more than the asking price. 67.6% of homes here sold above asking price last month.
Summary: A total of 34 homes were sold or pending in Sewell in April 2024, up by 6.3% month-over-month. Of the 34 sold homes, 24% were sold under asking, 9% were sold at asking, and 68% were sold over asking.
Days on Market for Sewell, NJ
How long does it take to sell a home in Sewell, NJ?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 21 Days | 32 Days | +50.7% |
Summary: Homes in Sewell had an average of 32 days on market in Apr 2024, up by 50.7% compared to last year.
Breakdown of Home Sale Times
26 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Sewell are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 34 homes were sold in Sewell; 76% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 12% 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.