Is Hewitt, 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, Hewitt has remained a Seller's Market.
Key Takeaway
Hewitt is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Hewitt, NJ
How much do homes in Hewitt, NJ cost?
Median Sold Price
$397,000
$120/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Hewitt have sold for 8.5% more than they did a year ago.
Summary: The median home sold price in Hewitt was $397,000 in April 2024, up 8.5% from last year, and the median price per square foot was $120.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $195K | $178.6K | -8.4% |
| 2 Bedrooms | $282.5K | $345K | +22.1% |
| 3 Bedrooms | $387K | $422.5K | +9.2% |
| 4 Bedrooms | $428K | $582.5K | +36.1% |
| 5+ Bedrooms | $545K | - | N/A |
Summary: Hewitt housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 8.4%, 2 bedroom homes increased by 22.1%, 3 bedroom homes increased by 9.2%, 4 bedroom homes increased by 36.1%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| West Milford | $335K | $398.9K | +19.1% |
| Highland Lakes | $312K | $350K | +12.2% |
| Ringwood | $463.5K | $507.5K | +9.5% |
| Hewitt | $366K | $397K | +8.5% |
Housing Supply in Hewitt, NJ
How many homes are available in Hewitt, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 47 | 59 | +25.5% |
Summary: The Hewitt real estate market had 59 homes for sale in April 2024, a 25.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 17 | 19 | +11.8% |
| 3 Bedrooms | 20 | 29 | +45.0% |
| 4 Bedrooms | 9 | 10 | +11.1% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Hewitt 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 11.8%, 3 bedroom homes increased by 45%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 6 | 10 | +66.7% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Hewitt, you could pay more than the asking price. 70% of homes here sold above asking price last month.
Summary: A total of 10 homes were sold or pending in Hewitt in April 2024, up by 66.7% month-over-month. Of the 10 sold homes, 20% were sold under asking, 10% were sold at asking, and 70% were sold over asking.
Days on Market for Hewitt, NJ
We’re sorry, we don't have information for this market at the moment
