Hamilton Park, NJ Real Estate

In November 2023, the Hamilton Park housing market experienced a dramatic increase in home prices, with a 147.4% surge compared to the previous year, bringing the median sale price to $1.2M. However, homes in Hamilton Park stayed on the market longer on average, taking 41 days to sell, compared to just 27 days the previous year.

The number of homes sold in November this year also decreased, with 8 homes sold, down from 14 sold in the same month last year. This indicates a significant shift in market dynamics, with higher prices potentially affecting both the speed of sales and the number of transactions.

The Hamilton Park housing market is moderately competitive. Homes in this area generally take about 74 days to sell. It's not uncommon for some homes to receive multiple offers, suggesting a fair level of buyer interest. On average, homes in Hamilton Park sell for approximately 3% below the asking price and typically go pending around the 74-day mark.

However, homes with higher demand, often called "hot homes," can attract more interest, selling for about 1% above the listed price and going pending more quickly, usually within about 28 days. This indicates a market with varying levels of demand based on specific property features or appeal.