Is Bloomfield Township, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Bloomfield Township was a Seller's Market.
Key Takeaway
Bloomfield Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Bloomfield Township, NJ
How much do homes in Bloomfield Township, NJ cost?
Median Sold Price
$534,000
$363/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Bloomfield Township have sold for 13.5% more than they did a year ago.
Summary: The median home sold price in Bloomfield Township was $534,000 in April 2024, up 13.5% from last year, and the median price per square foot was $363.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $207.5K | $245K | +18.1% |
| 2 Bedrooms | $355K | $340.5K | -4.1% |
| 3 Bedrooms | $490K | $545K | +11.2% |
| 4 Bedrooms | $527K | $587.5K | +11.5% |
| 5+ Bedrooms | $590K | $635K | +7.6% |
Summary: Bloomfield Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.1%, 2 bedroom homes decreased by 4.1%, 3 bedroom homes increased by 11.2%, 4 bedroom homes increased by 11.5%, and 5+ bedroom homes increased by 7.6%.
Median Sold Price Compared To Nearby Cities
| Bloomfield Township | $470.5K | $534K | +13.5% |
| Bloomfield | $470K | $533.5K | +13.5% |
| Glen Ridge | $884K | $982.9K | +11.2% |
| Nutley | $525K | $572.5K | +9.0% |
| Belleville | $400K | $428K | +7.0% |
Housing Supply in Bloomfield Township, NJ
How many homes are available in Bloomfield Township, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 80 | 125 | +56.3% |
Summary: The Bloomfield Township real estate market had 125 homes for sale in April 2024, a 56.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 8 | +166.7% |
| 2 Bedrooms | 11 | 16 | +45.5% |
| 3 Bedrooms | 34 | 45 | +32.4% |
| 4 Bedrooms | 17 | 23 | +35.3% |
| 5+ Bedrooms | 15 | 33 | +120.0% |
Summary: The Bloomfield Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 166.7%, 2 bedroom homes increased by 45.5%, 3 bedroom homes increased by 32.4%, 4 bedroom homes increased by 35.3%, and 5+ bedroom homes increased by 120%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 14 | 16 | +14.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
14 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Bloomfield Township, you could pay more than the asking price. 87.5% of homes here sold above asking price last month.
Summary: A total of 16 homes were sold or pending in Bloomfield Township in April 2024, up by 14.3% month-over-month. Of the 16 sold homes, 6% were sold under asking, 6% were sold at asking, and 88% were sold over asking.
Days on Market for Bloomfield Township, 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.