Is Elmwood Park, 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, Elmwood Park was a Seller's Market.
Key Takeaway
Elmwood Park is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Elmwood Park, NJ
How much do homes in Elmwood Park, NJ cost?
Median Sold Price
$480,000
-
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Elmwood Park have sold for 7.9% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $197.5K | N/A |
| 2 Bedrooms | $366K | $422.5K | +15.4% |
| 3 Bedrooms | $445K | $505K | +13.5% |
| 4 Bedrooms | $475K | $500.5K | +5.4% |
| 5+ Bedrooms | $527.5K | - | N/A |
Summary: Elmwood Park housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 15.4%, 3 bedroom homes increased by 13.5%, 4 bedroom homes increased by 5.4%, and 5+ bedroom homes did not change.
Housing Supply in Elmwood Park, NJ
How many homes are available in Elmwood Park, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 19 | 29 | +52.6% |
Summary: The Elmwood Park real estate market had 29 homes for sale in March 2024, a 52.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 4 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 7 | 12 | +71.4% |
| 4 Bedrooms | 5 | 8 | +60.0% |
| 5+ Bedrooms | 1 | 3 | +200.0% |
Summary: The Elmwood Park housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 71.4%, 4 bedroom homes increased by 60%, and 5+ bedroom homes increased by 200%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1 | 2 | +100.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Elmwood Park, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 2 homes were sold or pending in Elmwood Park in March 2024, up by 100.0% month-over-month. Of the 2 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Elmwood Park, NJ
We’re sorry, we don't have information for this market at the moment
