HOPEWELL
MARKET REPORT
January 2021
Hopewell NJ home market trends show an increase of a total of $47 (21%) in the average price per square foot over the past 6 months. The average sales price over that same period rose from $435,083 to $732,500, while the median rent for this area is $1,564.
The average time on market for properties in Hopewell New Jersey is 59 days and buyers can expect to pay 98% of the seller’s asking price. (All of this is represented in detail with the help of graphs below.)
The WolfPack Homes Team is committed to keeping our clients up to date with all market statistics. Here is the January 2021 Hopewell NJ real estate market report.
Please note that all these graphs are informative, you can scroll over each one of them and read carefully.
• Sales
Average sales price in January was $732,500. January was up from $506,667 in December, and up from $435,083 in February of 2020. Each year prices fluctuate and buyers must keep an eye on the market trends to know which time can be most beneficial for purchase.
• Market Time
Average days on market for homes in Hopewell NJ in January 2021 was 60, down from 80 in December 2020.
• Market Hotness
• Number of Homes Sold
Homes for sale in Hopewell NJ continued to trend up and down throughout most of last year, with the highest number of homes sold in February and July, the number of homes sold in Hopewell dropped through the third quarter of the year until October. Ending 2020 with an upward trend through December. We see a slight decrease in homes sold in January. This graph only demonstrates the number of homes sold in Hopewell NJ.
The statistics show the ups and downs. It is important for sellers and buyers to watch these trends in the real estate market. With the new year here, we will keep you informed of the market stats.
• Median Sale Price
As you can see in the above graph, the median sales price in January was $732,500, up from $506,667 in December, and up from $435,083 in February of 2020. June 2020 closed last year with the highest median sale price. Sales are forecasted to increase again as the spring season begins.
• Average Price Per Square Foot
As it is visible from the above graph, in the month of September 2020, the average price per square foot was the highest, reaching $233 per sqft.
• Conclusion
Keep checking these market stats; we will provide them each month. If you would like to discuss the Hopewell housing market and how these trends affect selling your home, please call Nicole Wolf Realtor at The WolfPack Homes Team of Berkshire Hathaway Fox & Roach to discuss an optimum sales strategy at 609-610-5789. Looking for the top Realtor in Hopewell? We have the #1 market share in the local Hopewell NJ area! Whether you are looking to buy or sell a home in Hopewell, or in other neighborhoods such as Applewood, Hopewell Ridge, Sourland Mountains, etc. you can count on us to represent you the best.
