Is Bloomfield, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Bloomfield was a Seller's Market.
Key Takeaway
Bloomfield is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Bloomfield, NJ
How much do homes in Bloomfield, NJ cost?
Median Sold Price
$530,750
$401/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Bloomfield have sold for 14.2% more than they did a year ago.
Summary: The median home sold price in Bloomfield was $530,750 in March 2024, up 14.2% from last year, and the median price per square foot was $401.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $199K | $240K | +20.6% |
| 2 Bedrooms | $355K | $345K | -2.8% |
| 3 Bedrooms | $482.5K | $540K | +11.9% |
| 4 Bedrooms | $527K | $580K | +10.1% |
| 5+ Bedrooms | $570K | $650K | +14.0% |
Summary: Bloomfield housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 20.6%, 2 bedroom homes decreased by 2.8%, 3 bedroom homes increased by 11.9%, 4 bedroom homes increased by 10.1%, and 5+ bedroom homes increased by 14%.
Median Sold Price Compared To Nearby Cities
| Bloomfield | $464.5K | $530.7K | +14.2% |
| Bloomfield Township | $466.5K | $530.3K | +13.7% |
| Glen Ridge | $925K | $990.9K | +7.1% |
| Belleville | $397.5K | $425K | +6.9% |
| Belleville Township | $396K | $420K | +6.1% |
Housing Supply in Bloomfield, NJ
How many homes are available in Bloomfield, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 84 | 108 | +28.6% |
Summary: The Bloomfield real estate market had 108 homes for sale in March 2024, a 28.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 5 | +66.7% |
| 2 Bedrooms | 16 | 18 | +12.5% |
| 3 Bedrooms | 32 | 42 | +31.3% |
| 4 Bedrooms | 15 | 21 | +40.0% |
| 5+ Bedrooms | 18 | 22 | +22.2% |
Summary: The Bloomfield housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 66.7%, 2 bedroom homes increased by 12.5%, 3 bedroom homes increased by 31.3%, 4 bedroom homes increased by 40%, and 5+ bedroom homes increased by 22.2%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 18 | 13 | -27.8% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Bloomfield, you could pay more than the asking price. 92.3% of homes here sold above asking price last month.
Summary: A total of 13 homes were sold or pending in Bloomfield in March 2024, down by 27.8% month-over-month. Of the 13 sold homes, 0% were sold under asking, 8% were sold at asking, and 92% were sold over asking.
Days on Market for Bloomfield, 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.