Is Hopatcong, 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, Hopatcong was a Seller's Market.
Key Takeaway
Hopatcong 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 Hopatcong, NJ
How much do homes in Hopatcong, NJ cost?
Median Sold Price
$385,000
$387/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Hopatcong have sold for 12% more than they did a year ago.
Summary: The median home sold price in Hopatcong was $385,000 in May 2024, up 12% from last year, and the median price per square foot was $387.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $167.5K | $230K | +37.3% |
| 2 Bedrooms | $270K | $300K | +11.1% |
| 3 Bedrooms | $370K | $388K | +4.9% |
| 4 Bedrooms | $430K | $450K | +4.7% |
| 5+ Bedrooms | $592.5K | $480K | -19.0% |
Summary: Hopatcong housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 37.3%, 2 bedroom homes increased by 11.1%, 3 bedroom homes increased by 4.9%, 4 bedroom homes increased by 4.7%, and 5+ bedroom homes decreased by 19%.
Median Sold Price Compared To Nearby Cities
| Mount Arlington | $385K | $447K | +16.1% |
| Hopatcong | $343.7K | $385K | +12.0% |
| Landing | $406K | $445K | +9.6% |
| Byram Township | $414.5K | $447K | +7.8% |
| Lake Hopatcong | $460K | $450K | -2.2% |
Housing Supply in Hopatcong, NJ
How many homes are available in Hopatcong, NJ?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 89 | 95 | +6.7% |
Summary: The Hopatcong real estate market had 95 homes for sale in May 2024, a 6.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 3 | -25.0% |
| 2 Bedrooms | 25 | 25 | 0.0% |
| 3 Bedrooms | 37 | 43 | +16.2% |
| 4 Bedrooms | 20 | 20 | 0.0% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The Hopatcong housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes remained the same, 3 bedroom homes increased by 16.2%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 22 | 15 | -31.8% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Hopatcong, you could pay more than the asking price. 73.3% of homes here sold above asking price last month.
Summary: A total of 15 homes were sold or pending in Hopatcong in May 2024, down by 31.8% month-over-month. Of the 15 sold homes, 13% were sold under asking, 13% were sold at asking, and 73% were sold over asking.
Days on Market for Hopatcong, NJ
How long does it take to sell a home in Hopatcong, NJ?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 6 Days | 8 Days | +33.3% |
Summary: Homes in Hopatcong had an average of 8 days on market in May 2024, up by 33.3% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Hopatcong are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 15 homes were sold in Hopatcong; 7% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Disclaimer: The data relating to the real estate for sale on this web site comes in part from the Internet Data Exchange Program of the NJMLS. Real estate listings held by brokerage firms other than Rocket Homes Real Estate, LLC are marked with the Internet Data Exchange logo and information about them includes the name of the listing brokers. Some properties listed with the participating brokers do not appear on this website at the request of the seller. Listings of brokers that do not participate in Internet Data Exchange do not appear on this website. 
Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement.