Is Denville 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, Denville Township was a Seller's Market.
Key Takeaway
Denville Township 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 Denville Township, NJ
How much do homes in Denville Township, NJ cost?
Median Sold Price
$557,500
$288/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Denville Township have sold for 4.9% more than they did a year ago.
Summary: The median home sold price in Denville Township was $557,500 in March 2024, up 4.9% from last year, and the median price per square foot was $288.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $305K | $252.5K | -17.2% |
| 2 Bedrooms | $385K | $442K | +14.8% |
| 3 Bedrooms | $485K | $550K | +13.4% |
| 4 Bedrooms | $660K | $654K | -0.9% |
| 5+ Bedrooms | $815K | $985.3K | +20.9% |
Summary: Denville Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 17.2%, 2 bedroom homes increased by 14.8%, 3 bedroom homes increased by 13.4%, 4 bedroom homes decreased by 0.9%, and 5+ bedroom homes increased by 20.9%.
Median Sold Price Compared To Nearby Cities
| Rockaway Township | $435K | $478.6K | +10.0% |
| Rockaway | $435K | $475.3K | +9.3% |
| Denville | $532.5K | $565K | +6.1% |
| Denville Township | $531.2K | $557.5K | +4.9% |
Housing Supply in Denville Township, NJ
How many homes are available in Denville Township, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 45 | 58 | +28.9% |
Summary: The Denville Township real estate market had 58 homes for sale in March 2024, a 28.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 11 | 10 | -9.1% |
| 3 Bedrooms | 13 | 22 | +69.2% |
| 4 Bedrooms | 13 | 15 | +15.4% |
| 5+ Bedrooms | 6 | 8 | +33.3% |
Summary: The Denville Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes decreased by 9.1%, 3 bedroom homes increased by 69.2%, 4 bedroom homes increased by 15.4%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 9 | 9 | 0.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Denville Township, you could pay more than the asking price. 55.6% of homes here sold above asking price last month.
Summary: A total of 9 homes were sold or pending in Denville Township in March 2024, the same as the previous month. Of the 9 sold homes, 44% were sold under asking, 0% were sold at asking, and 56% were sold over asking.
Days on Market for Denville Township, NJ
We’re sorry, we don't have information for this market at the moment
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