Is Highland 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, Highland Park has remained a Seller's Market.
Key Takeaway
Highland Park is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Highland Park, NJ
How much do homes in Highland Park, NJ cost?
Median Sold Price
$502,000
$303/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Highland Park have sold for 10.4% more than they did a year ago.
Summary: The median home sold price in Highland Park was $502,000 in March 2024, up 10.4% from last year, and the median price per square foot was $303.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $187K | $216K | +15.5% |
| 2 Bedrooms | $318K | $395K | +24.2% |
| 3 Bedrooms | $464K | $501K | +8.0% |
| 4 Bedrooms | $543K | $547.5K | +0.8% |
| 5+ Bedrooms | $625K | $744.5K | +19.1% |
Summary: Highland Park housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.5%, 2 bedroom homes increased by 24.2%, 3 bedroom homes increased by 8%, 4 bedroom homes increased by 0.8%, and 5+ bedroom homes increased by 19.1%.
Median Sold Price Compared To Nearby Cities
| New Brunswick | $315.5K | $357.5K | +13.3% |
| Edison Township | $482.2K | $534K | +10.7% |
| Edison | $483K | $533.9K | +10.5% |
| Highland Park | $454.7K | $502K | +10.4% |
| Piscataway | $456K | $485K | +6.3% |
Housing Supply in Highland Park, NJ
How many homes are available in Highland Park, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 29 | 38 | +31.0% |
Summary: The Highland Park real estate market had 38 homes for sale in March 2024, a 31.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 3 | 2 | -33.3% |
| 3 Bedrooms | 12 | 17 | +41.7% |
| 4 Bedrooms | 9 | 11 | +22.2% |
| 5+ Bedrooms | 5 | 7 | +40.0% |
Summary: The Highland Park housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 33.3%, 3 bedroom homes increased by 41.7%, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes increased by 40%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 2 | 8 | +300.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Highland Park, you could pay more than the asking price. 75% of homes here sold above asking price last month.
Summary: A total of 8 homes were sold or pending in Highland Park in March 2024, up by 300.0% month-over-month. Of the 8 sold homes, 25% were sold under asking, 0% were sold at asking, and 75% were sold over asking.
Days on Market for Highland Park, NJ
How long does it take to sell a home in Highland Park, NJ?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 53 Days | 75 Days | +40.3% |
Summary: Homes in Highland Park had an average of 75 days on market in Mar 2024, up by 40.3% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Highland Park are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 8 homes were sold in Highland Park; 38% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
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