Is Florham Park, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Florham Park has remained a Seller's Market.
Key Takeaway
Florham Park is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Florham Park, NJ
How much do homes in Florham Park, NJ cost?
Median Sold Price
$905,000
$395/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Florham Park have sold for 20% more than they did a year ago.
Summary: The median home sold price in Florham Park was $905,000 in March 2024, up 20% from last year, and the median price per square foot was $395.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $387K | $406K | +4.9% |
| 2 Bedrooms | $545K | $725K | +33.0% |
| 3 Bedrooms | $655.5K | $670K | +2.2% |
| 4 Bedrooms | $858.5K | $970K | +13.0% |
| 5+ Bedrooms | $1.4M | $1.7M | +16.9% |
Summary: Florham Park housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.9%, 2 bedroom homes increased by 33%, 3 bedroom homes increased by 2.2%, 4 bedroom homes increased by 13%, and 5+ bedroom homes increased by 16.9%.
Median Sold Price Compared To Nearby Cities
| Livingston Township | $791.8K | $970K | +22.5% |
| Livingston | $793.6K | $970K | +22.2% |
| Florham Park | $754K | $905K | +20.0% |
| Chatham | $946.3K | $1.0M | +7.7% |
| Madison | $869.5K | $876.5K | +0.8% |
Housing Supply in Florham Park, NJ
How many homes are available in Florham Park, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 27 | 30 | +11.1% |
Summary: The Florham Park real estate market had 30 homes for sale in March 2024, a 11.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 5 | 5 | 0.0% |
| 3 Bedrooms | 4 | 7 | +75.0% |
| 4 Bedrooms | 6 | 6 | 0.0% |
| 5+ Bedrooms | 11 | 11 | 0.0% |
Summary: The Florham 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 75%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 6 | 7 | +16.7% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Florham Park, you could pay more than the asking price. 57.1% of homes here sold above asking price last month.
Summary: A total of 7 homes were sold or pending in Florham Park in March 2024, up by 16.7% month-over-month. Of the 7 sold homes, 29% were sold under asking, 14% were sold at asking, and 57% were sold over asking.
Days on Market for Florham Park, NJ
We’re sorry, we don't have information for this market at the moment
