Paulus Hook, NJ Real Estate

In November 2023, the housing market in Paulus Hook experienced a significant decrease in home prices, dropping by 23.7% compared to the previous year, with the median sale price settling at $690K.

However, homes were selling much faster, staying on the market for an average of just 19 days, a substantial decrease from the 55 days seen last year. Additionally, the number of homes sold in November this year increased to 19, up from 16 sold in the same month last year, indicating a rise in market activity despite the lower prices.

The housing market in Paulus Hook is moderately competitive. On average, homes in this area take about 65 days to sell. There is a tendency for some properties to receive multiple offers, indicating a decent level of demand. Typically, homes sell for approximately 2% below the listed price and go pending in around 65 days.

However, particularly attractive homes, often referred to as "hot homes," can command higher interest, selling for about 1% above the listing price and going pending more quickly, typically within 29 days. This suggests a market where certain homes are more sought-after than others.