Is South Brunswick 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, South Brunswick Township has remained a Seller's Market.
Key Takeaway
South Brunswick Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in South Brunswick Township, NJ
How much do homes in South Brunswick Township, NJ cost?
Median Sold Price
$610,000
$308/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in South Brunswick Township have sold for 15.1% more than they did a year ago.
Summary: The median home sold price in South Brunswick Township was $610,000 in May 2024, up 15.1% from last year, and the median price per square foot was $308.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $210K | $247K | +17.6% |
| 2 Bedrooms | $337.5K | $375K | +11.1% |
| 3 Bedrooms | $490K | $550K | +12.2% |
| 4 Bedrooms | $690K | $745K | +8.0% |
| 5+ Bedrooms | $750K | $870K | +16.0% |
Summary: South Brunswick Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17.6%, 2 bedroom homes increased by 11.1%, 3 bedroom homes increased by 12.2%, 4 bedroom homes increased by 8%, and 5+ bedroom homes increased by 16%.
Median Sold Price Compared To Nearby Cities
| South Brunswick Township | $530K | $610K | +15.1% |
| Franklin Park | $327.5K | $375K | +14.5% |
| Monmouth Junction | $465K | $530K | +14.0% |
| Dayton | $500.5K | $550K | +9.9% |
| Kendall Park | $571K | $622.5K | +9.0% |
Housing Supply in South Brunswick Township, NJ
How many homes are available in South Brunswick Township, NJ?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 107 | 127 | +18.7% |
Summary: The South Brunswick Township real estate market had 127 homes for sale in May 2024, a 18.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 4 | +100.0% |
| 2 Bedrooms | 17 | 19 | +11.8% |
| 3 Bedrooms | 41 | 46 | +12.2% |
| 4 Bedrooms | 33 | 43 | +30.3% |
| 5+ Bedrooms | 14 | 15 | +7.1% |
Summary: The South Brunswick Township 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 increased by 11.8%, 3 bedroom homes increased by 12.2%, 4 bedroom homes increased by 30.3%, and 5+ bedroom homes increased by 7.1%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 27 | 24 | -11.1% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
20 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in South Brunswick Township, you could pay more than the asking price. 83.3% of homes here sold above asking price last month.
Summary: A total of 24 homes were sold or pending in South Brunswick Township in May 2024, down by 11.1% month-over-month. Of the 24 sold homes, 8% were sold under asking, 8% were sold at asking, and 83% were sold over asking.
Days on Market for South Brunswick Township, NJ
How long does it take to sell a home in South Brunswick Township, NJ?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 53 Days | 23 Days | -56.0% |
Summary: Homes in South Brunswick Township had an average of 23 days on market in May 2024, down by 56% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in South Brunswick Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 24 homes were sold in South Brunswick Township; 71% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
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