Is Little Falls, 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, Little Falls was a Seller's Market.
Key Takeaway
Little Falls is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Little Falls, NJ
How much do homes in Little Falls, NJ cost?
Median Sold Price
$518,500
$244/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Little Falls have sold for 6.9% more than they did a year ago.
Summary: The median home sold price in Little Falls was $518,500 in May 2024, up 6.9% from last year, and the median price per square foot was $244.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $223K | $312.5K | +40.1% |
| 2 Bedrooms | $449.7K | $512K | +13.9% |
| 3 Bedrooms | $500.5K | $512.5K | +2.4% |
| 4 Bedrooms | $517K | $620K | +19.9% |
| 5+ Bedrooms | $659.9K | $602K | -8.8% |
Summary: Little Falls housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 40.1%, 2 bedroom homes increased by 13.9%, 3 bedroom homes increased by 2.4%, 4 bedroom homes increased by 19.9%, and 5+ bedroom homes decreased by 8.8%.
Median Sold Price Compared To Nearby Cities
| Little Falls Township | $470K | $516K | +9.8% |
| Totowa | $520K | $567.5K | +9.1% |
| Little Falls | $485K | $518.5K | +6.9% |
| Cedar Grove Township | $650K | $685K | +5.4% |
| Woodland Park | $502K | $520K | +3.6% |
Housing Supply in Little Falls, NJ
How many homes are available in Little Falls, NJ?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 61 | 70 | +14.8% |
Summary: The Little Falls real estate market had 70 homes for sale in May 2024, a 14.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 6 | +200.0% |
| 2 Bedrooms | 20 | 18 | -10.0% |
| 3 Bedrooms | 23 | 24 | +4.3% |
| 4 Bedrooms | 8 | 11 | +37.5% |
| 5+ Bedrooms | 8 | 11 | +37.5% |
Summary: The Little Falls housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes decreased by 10%, 3 bedroom homes increased by 4.3%, 4 bedroom homes increased by 37.5%, and 5+ bedroom homes increased by 37.5%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 17 | 9 | -47.1% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Little Falls, you could pay more than the asking price. 55.6% of homes here sold above asking price last month.
Summary: A total of 9 homes were sold or pending in Little Falls in May 2024, down by 47.1% month-over-month. Of the 9 sold homes, 22% were sold under asking, 22% were sold at asking, and 56% were sold over asking.
Days on Market for Little Falls, NJ
How long does it take to sell a home in Little Falls, NJ?
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Little Falls has remained consistent over time.
Summary: During May 2024, 9 homes were sold in Little Falls; 0% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
