Is Montville Township, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Montville Township was a Seller's Market.
Key Takeaway
Montville Township is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Montville Township, NJ
How much do homes in Montville Township, NJ cost?
Median Sold Price
$739,500
$316/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Montville Township have sold for 4.5% more than they did a year ago.
Summary: The median home sold price in Montville Township was $739,500 in April 2024, up 4.5% from last year, and the median price per square foot was $316.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $295K | $327.7K | +11.1% |
| 2 Bedrooms | $515K | $545K | +5.8% |
| 3 Bedrooms | $620K | $640.5K | +3.3% |
| 4 Bedrooms | $775K | $830K | +7.1% |
| 5+ Bedrooms | $1.0M | $1.1M | +4.5% |
Summary: Montville Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.1%, 2 bedroom homes increased by 5.8%, 3 bedroom homes increased by 3.3%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes increased by 4.5%.
Median Sold Price Compared To Nearby Cities
| Fairfield Township | $650K | $700K | +7.7% |
| Lake Hiawatha | $400K | $425K | +6.3% |
| Montville Township | $707.5K | $739.5K | +4.5% |
| Montville | $699.4K | $726K | +3.8% |
Housing Supply in Montville Township, NJ
How many homes are available in Montville Township, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 71 | 78 | +9.9% |
Summary: The Montville Township real estate market had 78 homes for sale in April 2024, a 9.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 6 | 5 | -16.7% |
| 3 Bedrooms | 19 | 20 | +5.3% |
| 4 Bedrooms | 20 | 25 | +25.0% |
| 5+ Bedrooms | 25 | 27 | +8.0% |
Summary: The Montville Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 16.7%, 3 bedroom homes increased by 5.3%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 8%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 17 | 12 | -29.4% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Montville Township, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 12 homes were sold or pending in Montville Township in April 2024, down by 29.4% month-over-month. Of the 12 sold homes, 42% were sold under asking, 8% were sold at asking, and 50% were sold over asking.
Days on Market for Montville Township, NJ
We’re sorry, we don't have information for this market at the moment
