Is Totowa, 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, Totowa was a Seller's Market.
Key Takeaway
Totowa is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Totowa, NJ
How much do homes in Totowa, NJ cost?
Median Sold Price
$567,500
-
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Totowa have sold for 9.1% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $65K | $350K | +438.5% |
| 2 Bedrooms | $395K | $450K | +13.9% |
| 3 Bedrooms | $516K | $510K | -1.2% |
| 4 Bedrooms | $570K | $750K | +31.6% |
| 5+ Bedrooms | $999.9K | $800K | -20.0% |
Summary: Totowa housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 438.5%, 2 bedroom homes increased by 13.9%, 3 bedroom homes decreased by 1.2%, 4 bedroom homes increased by 31.6%, and 5+ bedroom homes decreased by 20%.
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% |
| Haledon | $400K | $422K | +5.5% |
| Woodland Park | $502K | $520K | +3.6% |
Housing Supply in Totowa, NJ
How many homes are available in Totowa, NJ?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 34 | 41 | +20.6% |
Summary: The Totowa real estate market had 41 homes for sale in May 2024, a 20.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 2 | 6 | +200.0% |
| 3 Bedrooms | 24 | 23 | -4.2% |
| 4 Bedrooms | 6 | 9 | +50.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Totowa 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 200%, 3 bedroom homes decreased by 4.2%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 5 | 3 | -40.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Totowa, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Totowa in May 2024, down by 40.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.
Days on Market for Totowa, NJ
We’re sorry, we don't have information for this market at the moment
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Monmouth/Ocean MLS Monmouth County Association Board of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright © 2024 Monmouth/Ocean MLS Monmouth County Association Board of Realtors. All Rights Reserved.