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Featured local agent — Preakness, NJ
Sarah Mitchell
Compass Real Estate · Preakness, NJ
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Preakness, NJ Housing Market & Real Estate
Housing market overview · Updated monthly ·
$672,500median sale price
How is the Preakness, NJ housing market right now?
The median home sale price in Preakness, NJ is $672,500, up 14.0% year-over-year. Homes sell in an average of 18 days with 26 active listings. The market is currently a strong seller'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 Preakness a buyer's or seller's market?
Preakness, NJ is currently a strong seller's market, based on 1.7 months of supply and homes selling in about 18 days. How we determine this →
Homes sold
15
Last 12 weeks
Days on market
18
Fast-moving
Active listings
26
1.7 months supply
Sale-to-list
107.3%
Above asking
What does the Preakness housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $672,500 |
| Median list price | $769,999 |
| Year-over-year price change | +14.0% |
| Average days on market | 18 days |
| Active inventory | 26 listings |
| Months of supply | 1.7 months |
| Sale-to-list price ratio | 107.3% |
| Median price per sq ft | $423/sq ft |
| Homes sold (latest month) | 15 |
| New listings (latest month) | 17 |
| Listings with a price cut | 3.9% |
| Market condition | Strong seller's market |
Source: Redfin · Updated monthly
How much do homes cost in Preakness by property type?
How the Preakness, 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 | $920,000 | $430/sq ft | 10 | 18 days |
| Condo / Co-op | $415,000 | $427/sq ft | 4 | 33 days |
| Townhouse | $625,000 | $387/sq ft | 1 | 18 days |
Source: Redfin · Updated monthly
The Preakness housing market is currently classified as a strong seller's market with a median sale price of $672,500. Prices have risen 14.0% compared to last year, with homes spending an average of 18 days on market, indicating 1.7 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 Preakness
There are currently 26 homes listed for sale in Preakness, New Jersey. The median listing price is $770K.
Active listings
26
Homes on market
Median list price
$770K
Avg. days on market
18
Days until sale
New this week
17
Newly listed
Who lives in Preakness?
Population
18,538
Median income
$133,168/yr
Median age
41.1 years
Owner-occupied
70.0%
College grads
58.4%
Avg commute
31.1 min
Source: U.S. Census Bureau ACS
What is it like to live in Preakness?
Preakness is a community of approximately 19K residents with a median age of 41.1 years.The median household income is $133,168, which reflects a relatively affluent area with strong earning potential. 58.4% of residents hold a bachelor's degree or higher, indicating a highly educated population.
Homeownership rates are at 70.0%, reflecting strong community stability and long-term resident commitment. The average commute time is 31.1 minutes, which suggests a more suburban or rural location for those willing to commute longer distances.Overall, Preakness offers a balanced lifestyle with accessible home values relative to local income levels.
Which cities are near Preakness, NJ?
Want a head-to-head view? Compare Preakness side-by-side with any other U.S. city using our market-comparison tool.
Frequently asked questions
What is the average home price in Preakness?
The median home sale price in Preakness is $672,500, up 14.0% from last year.
How long do homes stay on market in Preakness?
Homes typically spend 18 days on market before going under contract.
What is the median income in Preakness?
The median household income is $133,168 per year.
Is Preakness a buyer's or seller's market?
With 1.7 months of supply, Preakness is currently a strong seller's market.
What is the median condo price in Preakness?
The median condo/co-op sale price in Preakness, NJ is $415,000, compared to $920,000 for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in Preakness?
The median single-family home price in Preakness, NJ is $920,000 (about $430 per square foot).
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