Is New Brunswick, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, New Brunswick was a Seller's Market.
Key Takeaway
New Brunswick is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in New Brunswick, NJ
How much do homes in New Brunswick, NJ cost?
Median Sold Price
$385,000
$287/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in New Brunswick have sold for 19.8% more than they did a year ago.
Summary: The median home sold price in New Brunswick was $385,000 in May 2024, up 19.8% from last year, and the median price per square foot was $287.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $200K | $210K | +5.0% |
| 2 Bedrooms | $285K | $311K | +9.1% |
| 3 Bedrooms | $330K | $397.3K | +20.4% |
| 4 Bedrooms | $380.5K | $475K | +24.8% |
| 5+ Bedrooms | $642K | $550K | -14.3% |
Summary: New Brunswick housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5%, 2 bedroom homes increased by 9.1%, 3 bedroom homes increased by 20.4%, 4 bedroom homes increased by 24.8%, and 5+ bedroom homes decreased by 14.3%.
Median Sold Price Compared To Nearby Cities
| New Brunswick | $321.5K | $385K | +19.8% |
| East Brunswick | $485K | $555.2K | +14.5% |
| Highland Park | $457K | $501.5K | +9.7% |
| North Brunswick | $411K | $441.6K | +7.5% |
| North Brunswick Township | $412K | $440K | +6.8% |
Housing Supply in New Brunswick, NJ
How many homes are available in New Brunswick, NJ?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 72 | 74 | +2.8% |
Summary: The New Brunswick real estate market had 74 homes for sale in May 2024, a 2.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 3 | +200.0% |
| 2 Bedrooms | 24 | 23 | -4.2% |
| 3 Bedrooms | 23 | 22 | -4.3% |
| 4 Bedrooms | 13 | 11 | -15.4% |
| 5+ Bedrooms | 11 | 15 | +36.4% |
Summary: The New Brunswick housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes decreased by 4.2%, 3 bedroom homes decreased by 4.3%, 4 bedroom homes decreased by 15.4%, and 5+ bedroom homes increased by 36.4%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 15 | 11 | -26.7% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in New Brunswick, you could pay more than the asking price. 54.5% of homes here sold above asking price last month.
Summary: A total of 11 homes were sold or pending in New Brunswick in May 2024, down by 26.7% month-over-month. Of the 11 sold homes, 27% were sold under asking, 18% were sold at asking, and 55% were sold over asking.
Days on Market for New Brunswick, NJ
How long does it take to sell a home in New Brunswick, NJ?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 30 Days | 23 Days | -22.1% |
Summary: Homes in New Brunswick had an average of 23 days on market in May 2024, down by 22.1% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in New Brunswick are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 11 homes were sold in New Brunswick; 73% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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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.
Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement.