Is Lake 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, Lake Hopatcong was a Buyer's Market.
Key Takeaway
Lake Hopatcong is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lake Hopatcong, NJ
How much do homes in Lake Hopatcong, NJ cost?
Median Sold Price
$450,000
-
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Lake Hopatcong have sold for 2.2% less than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $192K | $147.7K | -23.0% |
| 2 Bedrooms | $259.9K | $315K | +21.2% |
| 3 Bedrooms | $430K | $447.5K | +4.1% |
| 4 Bedrooms | $627.5K | $702.5K | +12.0% |
| 5+ Bedrooms | $592.5K | $1.1M | +88.6% |
Summary: Lake Hopatcong housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 23%, 2 bedroom homes increased by 21.2%, 3 bedroom homes increased by 4.1%, 4 bedroom homes increased by 12%, and 5+ bedroom homes increased by 88.6%.
Median Sold Price Compared To Nearby Cities
| Roxbury Township | $438.7K | $520K | +18.5% |
| Mount Arlington | $385K | $447K | +16.1% |
| Hopatcong | $343.7K | $385K | +12.0% |
| Sparta | $501.2K | $544K | +8.5% |
| Lake Hopatcong | $460K | $450K | -2.2% |
Housing Supply in Lake Hopatcong, NJ
How many homes are available in Lake Hopatcong, NJ?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 31 | 37 | +19.4% |
Summary: The Lake Hopatcong real estate market had 37 homes for sale in May 2024, a 19.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 5 | 5 | 0.0% |
| 3 Bedrooms | 16 | 22 | +37.5% |
| 4 Bedrooms | 9 | 9 | 0.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Lake Hopatcong housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 37.5%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 4 | 7 | +75.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lake Hopatcong, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in Lake Hopatcong in May 2024, up by 75.0% month-over-month. Of the 7 sold homes, 57% were sold under asking, 14% were sold at asking, and 29% were sold over asking.
Days on Market for Lake Hopatcong, NJ
We’re sorry, we don't have information for this market at the moment
