Is Hillsborough, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Hillsborough has remained a Seller's Market.
Key Takeaway
Hillsborough is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Hillsborough, NJ
How much do homes in Hillsborough, NJ cost?
Median Sold Price
$525,000
$302/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Hillsborough have sold for 8.7% more than they did a year ago.
Summary: The median home sold price in Hillsborough was $525,000 in April 2024, up 8.7% from last year, and the median price per square foot was $302.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $185K | $235K | +27.0% |
| 2 Bedrooms | $340K | $400K | +17.6% |
| 3 Bedrooms | $476K | $540K | +13.4% |
| 4 Bedrooms | $700K | $768K | +9.7% |
| 5+ Bedrooms | $755K | $890.5K | +17.9% |
Summary: Hillsborough housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 27%, 2 bedroom homes increased by 17.6%, 3 bedroom homes increased by 13.4%, 4 bedroom homes increased by 9.7%, and 5+ bedroom homes increased by 17.9%.
Median Sold Price Compared To Nearby Cities
| Hillsborough | $483K | $525K | +8.7% |
| Hillsborough Township | $485.3K | $525K | +8.2% |
| Neshanic Station | $710K | $640K | -9.9% |
Housing Supply in Hillsborough, NJ
How many homes are available in Hillsborough, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 101 | 134 | +32.7% |
Summary: The Hillsborough real estate market had 134 homes for sale in April 2024, a 32.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 6 | +50.0% |
| 2 Bedrooms | 25 | 29 | +16.0% |
| 3 Bedrooms | 36 | 40 | +11.1% |
| 4 Bedrooms | 28 | 46 | +64.3% |
| 5+ Bedrooms | 8 | 13 | +62.5% |
Summary: The Hillsborough housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 16%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 64.3%, and 5+ bedroom homes increased by 62.5%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 19 | 31 | +63.2% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
25 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Hillsborough, you could pay more than the asking price. 80.6% of homes here sold above asking price last month.
Summary: A total of 31 homes were sold or pending in Hillsborough in April 2024, up by 63.2% month-over-month. Of the 31 sold homes, 13% were sold under asking, 6% were sold at asking, and 81% were sold over asking.
Days on Market for Hillsborough, NJ
How long does it take to sell a home in Hillsborough, NJ?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 105 Days | 27 Days | -74.4% |
Summary: Homes in Hillsborough had an average of 27 days on market in Apr 2024, down by 74.4% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Hillsborough are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 31 homes were sold in Hillsborough; 10% 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.
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