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Featured local agent — Palermo, NJ
Sarah Mitchell
Compass Real Estate · Palermo, NJ
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Palermo, NJ Housing Market & Real Estate
Housing market overview · Updated monthly ·
$485,000median sale price
How is the Palermo, NJ housing market right now?
The median home sale price in Palermo, NJ is $485,000, down 20.8% year-over-year. Homes sell in an average of 8 days with 18 active listings. The market is currently a leaning buyer's. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Palermo a buyer's or seller's market?
Palermo, NJ is currently a leaning buyer's, based on 18.0 months of supply and homes selling in about 8 days. How we determine this →
Homes sold
1
Last 12 weeks
Days on market
8
Fast-moving
Active listings
18
18.0 months supply
Sale-to-list
97.0%
Below asking
What does the Palermo housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $485,000 |
| Year-over-year price change | -20.8% |
| Average days on market | 8 days |
| Active inventory | 18 listings |
| Months of supply | 18.0 months |
| Sale-to-list price ratio | 97.0% |
| Median price per sq ft | $234/sq ft |
| Homes sold (latest month) | 1 |
| Listings with a price cut | 27.8% |
| Market condition | Leaning buyer's |
Source: Redfin · Updated monthly
How much do homes cost in Palermo by property type?
How the Palermo, NJ market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $485,000 | $234/sq ft | 1 | 8 days |
| Condo / Co-op | $525,000 | $262/sq ft | 1 | 9 days |
| Townhouse | $534,500 | $275/sq ft | 2 | 101 days |
Source: Redfin · Updated monthly
The Palermo housing market is currently classified as a leaning buyer's with a median sale price of $485,000. Prices have fallen 20.8% compared to last year, with homes spending an average of 8 days on market, indicating 18.0 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.
Homes for sale in Palermo
There are currently 18 homes listed for sale in Palermo, New Jersey.
Active listings
18
Homes on market
Avg. days on market
8
Days until sale
Who lives in Palermo?
Population
2,667
Median income
$98,000/yr
Median age
43.7 years
Owner-occupied
98.1%
College grads
45.9%
Avg commute
23.6 min
Source: U.S. Census Bureau ACS
What is it like to live in Palermo?
Palermo is a community of approximately 3K residents with a median age of 43.7 years.The median household income is $98,000, which reflects a relatively affluent area with strong earning potential. 45.9% of residents hold a bachelor's degree or higher, indicating a highly educated population.
Homeownership rates are at 98.1%, reflecting strong community stability and long-term resident commitment. The average commute time is 23.6 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Palermo offers a balanced lifestyle with accessible home values relative to local income levels.
Which cities are near Palermo, NJ?
Want a head-to-head view? Compare Palermo side-by-side with any other U.S. city using our market-comparison tool.
Frequently asked questions
What is the average home price in Palermo?
The median home sale price in Palermo is $485,000, down 20.8% from last year.
How long do homes stay on market in Palermo?
Homes typically spend 8 days on market before going under contract.
What is the median income in Palermo?
The median household income is $98,000 per year.
Is Palermo a buyer's or seller's market?
With 18.0 months of supply, Palermo is currently a leaning buyer's.
What is the median condo price in Palermo?
The median condo/co-op sale price in Palermo, NJ is $525,000, compared to $485,000 for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in Palermo?
The median single-family home price in Palermo, NJ is $485,000 (about $234 per square foot).
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