Is Kinnelon, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Kinnelon has remained a Seller's Market.
Key Takeaway
Kinnelon is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Kinnelon, NJ
How much do homes in Kinnelon, NJ cost?
Median Sold Price
$731,000
$272/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Kinnelon have sold for 4.7% more than they did a year ago.
Summary: The median home sold price in Kinnelon was $731,000 in May 2024, up 4.7% from last year, and the median price per square foot was $272.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $275K | - | N/A |
| 2 Bedrooms | $358K | $339.5K | -5.2% |
| 3 Bedrooms | $540K | $600K | +11.1% |
| 4 Bedrooms | $745K | $762.5K | +2.3% |
| 5+ Bedrooms | $1.2M | $1.2M | +2.2% |
Summary: Kinnelon housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 5.2%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 2.3%, and 5+ bedroom homes increased by 2.2%.
Median Sold Price Compared To Nearby Cities
| Butler | $405K | $495K | +22.2% |
| West Milford Township | $357.5K | $410K | +14.7% |
| Riverdale | $380K | $420K | +10.5% |
| Kinnelon | $698K | $731K | +4.7% |
| Newfoundland | $520K | $511.5K | -1.6% |
Housing Supply in Kinnelon, NJ
How many homes are available in Kinnelon, NJ?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 45 | 58 | +28.9% |
Summary: The Kinnelon real estate market had 58 homes for sale in May 2024, a 28.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 3 | -25.0% |
| 3 Bedrooms | 9 | 13 | +44.4% |
| 4 Bedrooms | 18 | 22 | +22.2% |
| 5+ Bedrooms | 14 | 20 | +42.9% |
Summary: The Kinnelon 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 decreased by 25%, 3 bedroom homes increased by 44.4%, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes increased by 42.9%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 10 | 12 | +20.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Kinnelon, you could pay more than the asking price. 83.3% of homes here sold above asking price last month.
Summary: A total of 12 homes were sold or pending in Kinnelon in May 2024, up by 20.0% month-over-month. Of the 12 sold homes, 8% were sold under asking, 8% were sold at asking, and 83% were sold over asking.
Days on Market for Kinnelon, NJ
We’re sorry, we don't have information for this market at the moment
