Is Penns Grove, NJ 08069 a buyer’s or seller’s market?

The Penns Grove housing market right now

In the three months ending August 31, 2026, 27% of homes in Penns Grove, NJ 08069 sold above their list price, the typical home went under contract in 37 days and there were 4.4 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. That’s based on 42 home sales.

Compared with the same period a year earlier, the share selling over asking fell from 49%, homes sold more slowly (32 days then) and the median sale price rose 11% to $249,892. Overall, Penns Grove is less competitive than a year ago, which gives buyers more room.

Within Salem County, homes here sell faster than in 50% of the county’s ZIP codes, and sell less often over asking than in 62%. On our competition score, Penns Grove ranks #399 of 444 NJ ZIP codes with enough sales (score 51 out of 100).

Nearby, buyers who want less competition could look at Quinton 08072 (0% sold over asking) or Alloway 08001 (0% sold over asking), while Monroeville 08343 (44% sold over asking) and Elmer 08318 (33% sold over asking) are even more competitive.