North Brunswick, Nj: Home Buying Costs

The cost of buying a house in North Brunswick, New Jersey, varies depending on the property's location, size, and features. As of April 2024, the median listing home price in North Brunswick was $512,450, with a median listing price per square foot of $267. The median sale price of a home in North Brunswick was $514,000 last month, reflecting a significant increase of 72.6% since last year.

North Brunswick's housing market is considered somewhat competitive, with homes receiving an average of 11 offers and selling in around 97 days. The average home in North Brunswick sells for about 2% above the list price.

The cost of living in North Brunswick is 15% higher than the national average, and the area offers a range of amenities, including grocery stores, cafes, restaurants, and public schools.

Median listing home price

The median listing home price in North Brunswick, New Jersey, has seen some fluctuations over the past year, ranging from $399,000 to $512,450. In April 2024, the median listing home price was $399,000, which remained unchanged from March 2023 and April 2023. This price equates to a median value of $289 per square foot.

Compared to the national average, buying a home in North Brunswick is considered 1% less expensive. The North Brunswick housing market is currently a seller's market, indicating a higher demand for homes than what is currently available.

On average, homes in North Brunswick tend to spend around 33 to 38 days on the market before being sold.

The median sale price of a home in nearby New Brunswick was $514,000 last month, indicating a competitive market in the region.

Median days on market

The median number of days on the market for homes in North Brunswick, NJ, varies depending on the source and time period being considered. Here is a collection of data from different sources:

• According to one source, as of April 2024, homes in North Brunswick spent a median of 33 days on the market, a 32% decrease from April 2023.
• Another source claims that on average, homes in North Brunswick, NJ, spend an average of 38 days on the market.
• A third source states that in October 2023, homes in North Brunswick spent a median of 36 days on the market.
• A more recent source, from April 2024, mentions that homes in North Brunswick, NJ, sell after 97 days on the market.
• Finally, one source provides a range of median days on the market for different time periods: 1 year (36 days), 3 years (38 days), and 5 years (36 days).

Median listing home price per square foot

The median listing home price per square foot in North Brunswick, New Jersey, has seen some fluctuations, and varies depending on the source of the information and the specific period in consideration. Here is a compilation of relevant information from various sources:

• According to one source, as of April 2024, the median listing home price per square foot in North Brunswick was $289.
• Another source provides data for October 2023, stating that the median listing home price per square foot was $267 during that month.
• A different source offers a figure of $321 as the median sale price per square foot in New Brunswick, but it is unclear if this refers specifically to North Brunswick or the broader area. This data is from February 2024.
• In terms of individual properties, the price per square foot can vary. For example, one property listed for sale in North Brunswick Township has a price of $442,000 per square foot.

Median home sold price

The median home price in North Brunswick, NJ, varies depending on the source and the timeframe considered. According to one source, as of April 2024, the median listing home price is $512,450. Another source puts the median listing price per square foot at $267 and the median sold home price at $487,500 as of October 2023.

In February 2024, the median sale price of a home in North Brunswick was $514,000, with a median sale price per square foot of $321. This represents a 72.6% increase compared to the previous year.

Other sources provide more dynamic data, with one stating that as of April 2024, the median price of homes listed for sale in North Brunswick was $399,000, the same as in March 2023 and April 2023. The median value of a home listed to buy in North Brunswick in April 2024 was $289 per square foot.

It is worth noting that North Brunswick is considered a seller's market, indicating that there are more people looking to buy than there are homes available.

Sale-to-list price ratio

The sale-to-list price ratio is the ratio of a home's final sale price to its initial asking price. It is calculated by dividing the final sale price by the initial asking price and is expressed as a percentage. For example, if a home is listed for $1 million and sells for $900,000, the sale-to-list price ratio is 90%.

In October 2023, the sale-to-list price ratio in North Brunswick, NJ, was 106.19%. This means that homes in North Brunswick sold for 6.19% above the asking price on average.

The sale-to-list price ratio can indicate whether a market favours buyers or sellers. A relatively lower ratio compared to other neighbourhoods may suggest buyers have more negotiating power, while a higher ratio indicates greater competition among buyers and more leverage for sellers.

In October 2023, North Brunswick was considered a seller's market, with more people looking to buy than there were homes available.

Frequently asked questions