Is Union 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, Union Township has remained a Seller's Market.
Housing Prices in Union Township, NJ
How much do homes in Union Township, NJ cost?
Median Sold Price
$520,000
$285/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Union Township was $520,000 in May 2024, up 8.3% from last year, and the median price per square foot was $285.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $185K | $225K | +21.6% |
2 Bedrooms | $365K | $400K | +9.6% |
3 Bedrooms | $480K | $520K | +8.3% |
4 Bedrooms | $519.5K | $565K | +8.8% |
5+ Bedrooms | $611.5K | $685K | +12.0% |
Summary: Union Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 21.6%, 2 bedroom homes increased by 9.6%, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 8.8%, and 5+ bedroom homes increased by 12%.
Median Sold Price Compared To Nearby Cities
Hillside Township | $410K | $455K | +11.0% |
Kenilworth | $499.5K | $552.5K | +10.6% |
Union Township | $480.2K | $520K | +8.3% |
Union | $485K | $520K | +7.2% |
Housing Supply in Union Township, NJ
How many homes are available in Union Township, NJ?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
140 | 160 | +14.3% |
Summary: The Union Township real estate market had 160 homes for sale in May 2024, a 14.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 5 | +66.7% |
2 Bedrooms | 21 | 23 | +9.5% |
3 Bedrooms | 68 | 81 | +19.1% |
4 Bedrooms | 35 | 38 | +8.6% |
5+ Bedrooms | 13 | 13 | 0.0% |
Summary: The Union Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 66.7%, 2 bedroom homes increased by 9.5%, 3 bedroom homes increased by 19.1%, 4 bedroom homes increased by 8.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
28 | 30 | +7.1% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
24 Homes Were Sold
Over Asking
Summary: A total of 30 homes were sold or pending in Union Township in May 2024, up by 7.1% month-over-month. Of the 30 sold homes, 10% were sold under asking, 10% were sold at asking, and 80% were sold over asking.
Days on Market for Union Township, NJ
How long does it take to sell a home in Union Township, NJ?
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 30 homes were sold in Union Township; 10% 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.