Is Middlesex County, 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, Middlesex County has remained a Seller's Market.
Housing Prices in Middlesex County, NJ
How much do homes in Middlesex County, NJ cost?
Median Sold Price
$490,178
$304/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Middlesex County was $490,178 in May 2024, up 11.1% from last year, and the median price per square foot was $304.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $190K | $229.1K | +20.6% |
2 Bedrooms | $329.8K | $364.9K | +10.6% |
3 Bedrooms | $440.1K | $489.6K | +11.2% |
4 Bedrooms | $569.9K | $615.7K | +8.0% |
5+ Bedrooms | $728.7K | $786K | +7.9% |
Summary: Middlesex County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 20.6%, 2 bedroom homes increased by 10.6%, 3 bedroom homes increased by 11.2%, 4 bedroom homes increased by 8%, and 5+ bedroom homes increased by 7.9%.
Median Sold Price Compared To Nearby Counties
Somerset County | $512.8K | $578.8K | +12.9% |
Middlesex County | $441.2K | $490.1K | +11.1% |
Union County | $505.8K | $559.9K | +10.7% |
Monmouth County | $580.5K | $632.9K | +9.0% |
Mercer County | $380K | $412.7K | +8.6% |
Housing Supply in Middlesex County, NJ
How many homes are available in Middlesex County, NJ?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
2,284 | 2,578 | +12.9% |
Summary: The Middlesex County real estate market had 2,578 homes for sale in May 2024, a 12.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 75 | 84 | +12.0% |
2 Bedrooms | 528 | 616 | +16.7% |
3 Bedrooms | 785 | 869 | +10.7% |
4 Bedrooms | 596 | 690 | +15.8% |
5+ Bedrooms | 300 | 319 | +6.3% |
Summary: The Middlesex County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 12%, 2 bedroom homes increased by 16.7%, 3 bedroom homes increased by 10.7%, 4 bedroom homes increased by 15.8%, and 5+ bedroom homes increased by 6.3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
493 | 471 | -4.5% |
Asking Price vs. Sold Price
82 Homes Were Sold
Under Asking
35 Homes Were Sold
At Asking
354 Homes Were Sold
Over Asking
Summary: A total of 471 homes were sold or pending in Middlesex County in May 2024, down by 4.5% month-over-month. Of the 471 sold homes, 17% were sold under asking, 7% were sold at asking, and 75% were sold over asking.
Days on Market for Middlesex County, NJ
How long does it take to sell a home in Middlesex County, NJ?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
36 Days | 30 Days | -15.1% |
Summary: Homes in Middlesex County had an average of 30 days on market in May 2024, down by 15.1% compared to last year.
Breakdown of Home Sale Times
306 Homes Were Sold
Under 30 Days
100 Homes Were Sold
In 30 - 90 Days
24 Homes Were Sold
Over 90 Days
Summary: During May 2024, 471 homes were sold in Middlesex County; 65% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.