September 2024 brought significant changes to the housing market in the 08033 zip code. If you're looking to buy or sell in Haddonfield (and the surrounding area), understanding these shifts is key to making smart decisions. Here’s a full breakdown of last month’s housing trends in this top rated South Jersey town.
1. The average home sale price dropped by 17%
The average sale price in Haddonfield for September was $820,727, which is a 17% decrease compared to the previous month. This dip could offer new opportunities for buyers looking to purchase in this otherwise premium market.
2. The number of properties sold dropped by 35%
Sales activity slowed significantly, with only 11 properties sold, reflecting a 35% decrease from August 2024. Sellers may find it takes longer to attract buyers in the current market environment.
3. The average days on market surged by 37%
Homes now sit on the market for 26 days on average, a 37% jump month-over-month. This slowdown indicates that buyers are more deliberate, and sellers may need to adjust expectations or pricing strategies.
4. New Listings sit below the 5 year average
September saw 17 new listings, which is below the 5 year average of 25 listings for the month. With fewer homes entering the market, sellers still have some leverage despite the extended time on market.
5. What were the Neighborhood Highlights?
Let's break down Haddonfield, New Jersey into some more specific neighborhoods:
- Downtown: Median prices jumped to $887,500, an impressive 44.3% increase compared to 2023
- Haddonleigh: Prices climbed to $600,000, reflecting a 13.9% rise year-over-year
- Elizabeth Haddon: Median sale price reached $937,500, a 10.3% increase from 2023
What Does This Mean for You?
Buyers could benefit from the market’s slowdown, but competition may still arise due to fewer new listings. Sellers should anticipate longer selling times and consider price adjustments to close deals efficiently.
Need guidance on your next move? Let’s create a strategy that works for you. Start by messaging The JFKLiving Team here.
