Is Hillsborough Township, 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, Hillsborough Township has remained a Seller's Market.
Key Takeaway
Hillsborough Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Hillsborough Township, NJ
How much do homes in Hillsborough Township, NJ cost?
Median Sold Price
$535,000
$302/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Hillsborough Township have sold for 12.9% more than they did a year ago.
Summary: The median home sold price in Hillsborough Township was $535,000 in March 2024, up 12.9% from last year, and the median price per square foot was $302.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $185K | $230K | +24.3% |
| 2 Bedrooms | $340K | $400K | +17.6% |
| 3 Bedrooms | $478.5K | $542.5K | +13.4% |
| 4 Bedrooms | $691.6K | $760K | +9.9% |
| 5+ Bedrooms | $755K | $890.5K | +17.9% |
Summary: Hillsborough Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 24.3%, 2 bedroom homes increased by 17.6%, 3 bedroom homes increased by 13.4%, 4 bedroom homes increased by 9.9%, and 5+ bedroom homes increased by 17.9%.
Median Sold Price Compared To Nearby Cities
| Hillsborough | $473K | $538.8K | +13.9% |
| Branchburg Township | $531K | $602K | +13.4% |
| Hillsborough Township | $473.7K | $535K | +12.9% |
| Neshanic Station | $697K | $675K | -3.2% |
Housing Supply in Hillsborough Township, NJ
How many homes are available in Hillsborough Township, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 96 | 107 | +11.5% |
Summary: The Hillsborough Township real estate market had 107 homes for sale in March 2024, a 11.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 4 | +33.3% |
| 2 Bedrooms | 25 | 25 | 0.0% |
| 3 Bedrooms | 30 | 36 | +20.0% |
| 4 Bedrooms | 29 | 32 | +10.3% |
| 5+ Bedrooms | 9 | 10 | +11.1% |
Summary: The Hillsborough Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes remained the same, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 10.3%, and 5+ bedroom homes increased by 11.1%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 25 | 19 | -24.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Hillsborough Township, you could pay more than the asking price. 73.7% of homes here sold above asking price last month.
Summary: A total of 19 homes were sold or pending in Hillsborough Township in March 2024, down by 24.0% month-over-month. Of the 19 sold homes, 16% were sold under asking, 11% were sold at asking, and 74% were sold over asking.
Days on Market for Hillsborough Township, NJ
We’re sorry, we don't have information for this market at the moment
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