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Featured local agent — Penns Grove, NJ
Sarah Mitchell
Compass Real Estate · Penns Grove, NJ
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Penns Grove, NJ Housing Market & Real Estate
Housing market overview · Updated monthly ·
$216,000median sale price
How is the Penns Grove, NJ housing market right now?
The median home sale price in Penns Grove, NJ is $216,000, up 40.9% year-over-year. Homes sell in an average of 72 days with 23 active listings. The market is currently a buyer's market. (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 Penns Grove a buyer's or seller's market?
Penns Grove, NJ is currently a buyer's market, based on 7.7 months of supply and homes selling in about 72 days. How we determine this →
Homes sold
3
Last 12 weeks
Days on market
72
Average pace
Active listings
23
7.7 months supply
Sale-to-list
94.2%
Below asking
What does the Penns Grove housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $216,000 |
| Median list price | $229,777 |
| Year-over-year price change | +40.9% |
| Average days on market | 72 days |
| Active inventory | 23 listings |
| Months of supply | 7.7 months |
| Sale-to-list price ratio | 94.2% |
| Median price per sq ft | $131/sq ft |
| Homes sold (latest month) | 3 |
| New listings (latest month) | 9 |
| Listings with a price cut | 26.1% |
| Market condition | Buyer's market |
Source: Redfin · Updated monthly
How much do homes cost in Penns Grove by property type?
How the Penns Grove, 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 | $245,000 | $144/sq ft | 2 | 72 days |
| Townhouse | $216,000 | $125/sq ft | 1 | 180 days |
Source: Redfin · Updated monthly
The Penns Grove housing market is currently classified as a buyer's market with a median sale price of $216,000. Prices have risen 40.9% compared to last year, with homes spending an average of 72 days on market, indicating 7.7 months of inventory.This inventory level gives buyers significantly more negotiating power, allowing time to inspect properties thoroughly and potentially negotiate better terms.The price-to-income ratio of 4.7x provides context for how home values compare to local earning capacity.
Homes for sale in Penns Grove
There are currently 23 homes listed for sale in Penns Grove, New Jersey. The median listing price is $230K.
Active listings
23
Homes on market
Median list price
$230K
Avg. days on market
72
Days until sale
New this week
9
Newly listed
Who lives in Penns Grove?
Population
4,860
Median income
$43,889/yr
Median age
26.1 years
Owner-occupied
38.2%
College grads
14.6%
Avg commute
21.9 min
Source: U.S. Census Bureau ACS
What are homes worth in Penns Grove?
Zillow home value
$204,336
Price-to-income
4.7x
Source: Zillow Research
What is it like to live in Penns Grove?
Penns Grove is a community of approximately 5K residents with a median age of 26.1 years.The median household income is $43,889, which represents a working-class community with solid middle-income opportunities. 14.6% of residents hold a bachelor's degree or higher, showing a mixed educational demographic.
Homeownership rates are at 38.2%, showing a blend of owner and renter-occupied properties. The average commute time is 21.9 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Penns Grove offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Penns Grove?
2 schools tracked · 784 students
The largest public schools serving Penns Grove, NJ by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Penns Grove Middle School
Grades 6-8 · 465 students
Paul W Carleton
Grades 4-5 · 319 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Penns Grove, NJ?
Want a head-to-head view? Compare Penns Grove side-by-side with any other U.S. city using our market-comparison tool.
Frequently asked questions
What is the average home price in Penns Grove?
The median home sale price in Penns Grove is $216,000, up 40.9% from last year.
How long do homes stay on market in Penns Grove?
Homes typically spend 72 days on market before going under contract.
What is the median income in Penns Grove?
The median household income is $43,889 per year.
Is Penns Grove a buyer's or seller's market?
With 7.7 months of supply, Penns Grove is currently a buyer's market.
What is the Zillow home value estimate for Penns Grove?
The Zillow Home Value Index (ZHVI) for Penns Grove is $204,336, representing the typical home value in the area.
How much does a single-family home cost in Penns Grove?
The median single-family home price in Penns Grove, NJ is $245,000 (about $144 per square foot).
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