Is Chatham, 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, Chatham was a Seller's Market.
Key Takeaway
Chatham is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Chatham, NJ
How much do homes in Chatham, NJ cost?
Median Sold Price
$1,040,000
$427/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Chatham have sold for 8.4% more than they did a year ago.
Summary: The median home sold price in Chatham was $1,040,000 in April 2024, up 8.4% from last year, and the median price per square foot was $427.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $370K | $410K | +10.8% |
| 2 Bedrooms | $512.5K | $458K | -10.6% |
| 3 Bedrooms | $765K | $880K | +15.0% |
| 4 Bedrooms | $1.1M | $1.3M | +10.2% |
| 5+ Bedrooms | $1.7M | $2.0M | +13.4% |
Summary: Chatham housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.8%, 2 bedroom homes decreased by 10.6%, 3 bedroom homes increased by 15%, 4 bedroom homes increased by 10.2%, and 5+ bedroom homes increased by 13.4%.
Median Sold Price Compared To Nearby Cities
| Florham Park | $789.9K | $905K | +14.6% |
| Summit | $1.1M | $1.2M | +11.4% |
| Chatham Township | $968.5K | $1.0M | +9.4% |
| Chatham | $959.5K | $1.0M | +8.4% |
| Madison | $849K | $917.5K | +8.1% |
Housing Supply in Chatham, NJ
How many homes are available in Chatham, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 74 | 97 | +31.1% |
Summary: The Chatham real estate market had 97 homes for sale in April 2024, a 31.1% 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 | 4 | 9 | +125.0% |
| 3 Bedrooms | 13 | 13 | 0.0% |
| 4 Bedrooms | 27 | 33 | +22.2% |
| 5+ Bedrooms | 26 | 36 | +38.5% |
Summary: The Chatham 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 125%, 3 bedroom homes remained the same, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes increased by 38.5%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 11 | 16 | +45.5% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Chatham, you could pay more than the asking price. 68.8% of homes here sold above asking price last month.
Summary: A total of 16 homes were sold or pending in Chatham in April 2024, up by 45.5% month-over-month. Of the 16 sold homes, 19% were sold under asking, 13% were sold at asking, and 69% were sold over asking.
Days on Market for Chatham, NJ
We’re sorry, we don't have information for this market at the moment
