Is Chatham Township, 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, Chatham Township was a Seller's Market.
Key Takeaway
Chatham Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Chatham Township, NJ
How much do homes in Chatham Township, NJ cost?
Median Sold Price
$1,032,000
$427/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Chatham Township have sold for 7.6% more than they did a year ago.
Summary: The median home sold price in Chatham Township was $1,032,000 in March 2024, up 7.6% from last year, and the median price per square foot was $427.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $360K | $410K | +13.9% |
| 2 Bedrooms | $500K | $515K | +3.0% |
| 3 Bedrooms | $765K | $870K | +13.7% |
| 4 Bedrooms | $1.1M | $1.2M | +6.4% |
| 5+ Bedrooms | $1.7M | $2.0M | +12.6% |
Summary: Chatham Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.9%, 2 bedroom homes increased by 3%, 3 bedroom homes increased by 13.7%, 4 bedroom homes increased by 6.4%, and 5+ bedroom homes increased by 12.6%.
Median Sold Price Compared To Nearby Cities
| Chatham | $946.3K | $1.0M | +7.7% |
| Chatham Township | $959.5K | $1.0M | +7.6% |
| Madison | $869.5K | $876.5K | +0.8% |
| New Providence | $818K | $817.5K | -0.1% |
Housing Supply in Chatham Township, NJ
How many homes are available in Chatham Township, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 49 | 73 | +49.0% |
Summary: The Chatham Township real estate market had 73 homes for sale in March 2024, a 49.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 5 | +25.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 9 | 12 | +33.3% |
| 4 Bedrooms | 14 | 29 | +107.1% |
| 5+ Bedrooms | 20 | 25 | +25.0% |
Summary: The Chatham Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes remained the same, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 107.1%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 7 | 10 | +42.9% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Chatham Township, you could pay more than the asking price. 90% of homes here sold above asking price last month.
Summary: A total of 10 homes were sold or pending in Chatham Township in March 2024, up by 42.9% month-over-month. Of the 10 sold homes, 10% were sold under asking, 0% were sold at asking, and 90% were sold over asking.
Days on Market for Chatham 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.
Disclaimer: The data relating to the real estate for sale on this web site comes in part from the Internet Data Exchange Program of the NJMLS. Real estate listings held by brokerage firms other than Rocket Homes Real Estate, LLC are marked with the Internet Data Exchange logo and information about them includes the name of the listing brokers. Some properties listed with the participating brokers do not appear on this website at the request of the seller. Listings of brokers that do not participate in Internet Data Exchange do not appear on this website.