Comprehensive market data and analysis• Updated Dec 2025
60.0 months of supply
High inventory favors buyers with more choices and negotiating power.
| Acreage | 30D | 3M | 6M | 12M |
|---|---|---|---|---|
| 0-1 acres | - | - | 1 | 6 |
| 1-2 acres | - | - | 1 | 1 |
| 2-5 acres | - | 1 | 1 | 1 |
| 5-10 acres | - | - | - | - |
| 10-20 acres | - | - | - | - |
| 20-50 acres | - | - | - | - |
| 50-100 acres | - | - | - | - |
| 100+ acres | - | - | - | - |
| TOTAL | 0 | 1 | 3 | 8 |
Acreage buckets
The median price for land in Penns Grove, New Jersey is currently $112K per acre. For a typical parcel, the median sale price is $30K. Market volatility is currently high, meaning prices can vary significantly based on location and access. Recently, the cheapest land sold for $8K while premium lots reached $1.3M.
Penns Grove, New Jersey is currently a strong buyer's market with 60.0 months of supply. Buyers have more negotiating power and can take time to find the right property.
Penns Grove, New Jersey currently has 60.0 months of inventory supply. This indicates a strong buyer's market. High supply means buyers have plenty of choices and stronger negotiating position.
The 3-month absorption rate in Penns Grove, New Jersey is 1.7%. The 12-month rate is 3.8%. Absorption rate shows what percentage of available inventory is being sold, with higher rates indicating stronger buyer demand.
The median land price in Penns Grove, New Jersey stands at $30K. This translates to roughly $112K per acre for the typical parcel size. The average price is $675K, indicating some higher-priced properties pulling up the average.
The current absorption rate in Penns Grove, New Jersey is 1.7% (3-month basis), indicating slow demand. The top-performing broker in this market is American Dream Realty of South Jersey.
Over the past 12 months, Penns Grove, New Jersey saw 9 properties sold, totaling $6.1M in sales volume. In just the last 3 months, 1 properties changed hands.
Market statistics are compiled from multiple sources including LandyDandy listings, Zillow.com, Realtor.com, Redfin.com, county records, and MLS data. While we strive for accuracy, these figures are estimates and may not reflect 100% of market activity. Data is updated regularly but some transactions may have reporting delays. For the most accurate assessment of a specific property, we recommend consulting with a local real estate professional.
