Is Pennsville, 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, Pennsville was a Seller's Market.
Key Takeaway
Pennsville 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 Pennsville, NJ
How much do homes in Pennsville, NJ cost?
Median Sold Price
$255,000
$179/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Pennsville have sold for 15.9% more than they did a year ago.
Summary: The median home sold price in Pennsville was $255,000 in May 2024, up 15.9% from last year, and the median price per square foot was $179.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $159K | $194.7K | +22.5% |
| 3 Bedrooms | $220K | $255K | +15.9% |
| 4 Bedrooms | $250K | $285K | +14.0% |
| 5+ Bedrooms | $312.5K | $265K | -15.2% |
Summary: Pennsville housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 22.5%, 3 bedroom homes increased by 15.9%, 4 bedroom homes increased by 14%, and 5+ bedroom homes decreased by 15.2%.
Median Sold Price Compared To Nearby Cities
| Pennsville | $220K | $255K | +15.9% |
| Pennsville Township | $220K | $255K | +15.9% |
| Carneys Point Township | $202.5K | $229K | +13.1% |
Housing Supply in Pennsville, NJ
How many homes are available in Pennsville, NJ?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 51 | 59 | +15.7% |
Summary: The Pennsville real estate market had 59 homes for sale in May 2024, a 15.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 8 | 8 | 0.0% |
| 3 Bedrooms | 23 | 26 | +13.0% |
| 4 Bedrooms | 19 | 21 | +10.5% |
| 5+ Bedrooms | 1 | 3 | +200.0% |
Summary: The Pennsville housing inventory by bedroom type for May 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 13%, 4 bedroom homes increased by 10.5%, and 5+ bedroom homes increased by 200%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 8 | 9 | +12.5% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Pennsville, you could pay more than the asking price. 77.8% of homes here sold above asking price last month.
Summary: A total of 9 homes were sold or pending in Pennsville in May 2024, up by 12.5% month-over-month. Of the 9 sold homes, 11% were sold under asking, 11% were sold at asking, and 78% were sold over asking.
Days on Market for Pennsville, NJ
How long does it take to sell a home in Pennsville, NJ?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 41 Days | 17 Days | -57.0% |
Summary: Homes in Pennsville had an average of 17 days on market in May 2024, down by 57% compared to last year.
Breakdown of Home Sale Times
7 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 Pennsville are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 9 homes were sold in Pennsville; 78% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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.