Is Fairfield Township, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Fairfield Township was a Seller's Market.
Housing Prices in Fairfield Township, NJ
How much do homes in Fairfield Township, NJ cost?
Median Sold Price
$700,000
-
Based on all homes sold in the last 12 months.
Difference Since May 2023
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $525K | $615K | +17.1% |
3 Bedrooms | $580K | $587.4K | +1.3% |
4 Bedrooms | $720K | $727.5K | +1.0% |
5+ Bedrooms | $1.0M | $1.0M | -2.0% |
Summary: Fairfield Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 17.1%, 3 bedroom homes increased by 1.3%, 4 bedroom homes increased by 1%, and 5+ bedroom homes decreased by 2%.
Median Sold Price Compared To Nearby Cities
Pine Brook | $700K | $823K | +17.6% |
Fairfield Township | $652.5K | $700K | +7.3% |
Fairfield | $660K | $705K | +6.8% |
Montville Township | $705K | $745K | +5.7% |
Lincoln Park | $417.5K | $440K | +5.4% |
Housing Supply in Fairfield Township, NJ
How many homes are available in Fairfield Township, NJ?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
30 | 36 | +20.0% |
Summary: The Fairfield Township real estate market had 36 homes for sale in May 2024, a 20.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 1 | 2 | +100.0% |
3 Bedrooms | 11 | 15 | +36.4% |
4 Bedrooms | 16 | 14 | -12.5% |
5+ Bedrooms | 2 | 5 | +150.0% |
Summary: The Fairfield Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 36.4%, 4 bedroom homes decreased by 12.5%, and 5+ bedroom homes increased by 150%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
8 | 5 | -37.5% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 5 homes were sold or pending in Fairfield Township in May 2024, down by 37.5% month-over-month. Of the 5 sold homes, 40% were sold under asking, 0% were sold at asking, and 60% were sold over asking.
Days on Market for Fairfield Township, NJ
We’re sorry, we don't have information for this market at the moment