Is Far Hills, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Far Hills has remained a Neutral Market.
Key Takeaway
Far Hills 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 Far Hills, NJ
How much do homes in Far Hills, NJ cost?
Median Sold Price
$1,413,699
$350/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Far Hills have sold for 17.8% more than they did a year ago.
Summary: The median home sold price in Far Hills was $1,413,699 in April 2024, up 17.8% from last year, and the median price per square foot was $350.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $577.5K | $780K | +35.1% |
| 3 Bedrooms | $550K | $899K | +63.5% |
| 4 Bedrooms | $1.0M | $1.6M | +57.2% |
| 5+ Bedrooms | $1.7M | $1.7M | +1.5% |
Summary: Far Hills housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 35.1%, 3 bedroom homes increased by 63.5%, 4 bedroom homes increased by 57.2%, and 5+ bedroom homes increased by 1.5%.
Median Sold Price Compared To Nearby Cities
| Far Hills | $1.2M | $1.4M | +17.8% |
| Basking Ridge | $725.4K | $800K | +10.3% |
| Bedminster | $425K | $442.5K | +4.1% |
| Bernardsville | $802.5K | $775K | -3.4% |
Housing Supply in Far Hills, NJ
How many homes are available in Far Hills, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 18 | 24 | +33.3% |
Summary: The Far Hills real estate market had 24 homes for sale in April 2024, a 33.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 2 | +100.0% |
| 3 Bedrooms | 6 | 6 | 0.0% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 9 | 14 | +55.6% |
Summary: The Far Hills housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 55.6%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 1 | 4 | +300.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Far Hills, you could pay more than the asking price. 75% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in Far Hills in April 2024, up by 300.0% month-over-month. Of the 4 sold homes, 0% were sold under asking, 25% were sold at asking, and 75% were sold over asking.
Days on Market for Far Hills, NJ
We’re sorry, we don't have information for this market at the moment
