Hamilton Park, NJ Real Estate

In November 2024, home prices in Hamilton Park saw a significant drop of 30.0% compared to the previous year, with the median sale price settling at $840,000. However, homes are selling faster, with the average time on the market dropping to 22 days, compared to 32 days in November 2023. Despite the price decrease, the number of homes sold remained steady at 9, the same as last year. This suggests that while price reductions are occurring, there is still a stable level of buyer activity, indicating a potential shift in market conditions that may offer opportunities for both buyers and sellers.

The Hamilton Park housing market is moderately competitive, with homes typically selling in about 74 days. Some properties attract multiple offers, indicating continued buyer interest. On average, homes sell for approximately 3% below the listing price and go pending in around 74 days. However, highly sought-after homes—referred to as "hot" properties—can sell for about 1% above the list price and go pending in as little as 28 days, highlighting the ongoing demand for well-priced homes in the area.

In December 2024, Hamilton Park is experiencing a balanced market, where the supply of homes roughly matches the demand from buyers. This equilibrium allows both buyers and sellers to have a fair negotiating position, with neither side having a distinct advantage. As a result, the market is stable, and home prices and sales conditions are more predictable.