Is Kinnelon, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Kinnelon was a Seller's Market.
Key Takeaway
Kinnelon 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 Kinnelon, NJ
How much do homes in Kinnelon, NJ cost?
Median Sold Price
$710,000
$272/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Kinnelon have sold for 3.4% less than they did a year ago.
Summary: The median home sold price in Kinnelon was $710,000 in March 2024, down 3.4% from last year, and the median price per square foot was $272.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $275K | - | N/A |
| 2 Bedrooms | $358K | $352.5K | -1.5% |
| 3 Bedrooms | $531K | $605K | +13.9% |
| 4 Bedrooms | $755K | $731.2K | -3.1% |
| 5+ Bedrooms | $1.2M | $1.1M | -7.5% |
Summary: Kinnelon housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 1.5%, 3 bedroom homes increased by 13.9%, 4 bedroom homes decreased by 3.1%, and 5+ bedroom homes decreased by 7.5%.
Median Sold Price Compared To Nearby Cities
| Butler | $405K | $480K | +18.5% |
| Riverdale | $370K | $420K | +13.5% |
| West Milford Township | $360.1K | $408.5K | +13.4% |
| Newfoundland | $467.5K | $525K | +12.3% |
| Kinnelon | $735K | $710K | -3.4% |
Housing Supply in Kinnelon, NJ
How many homes are available in Kinnelon, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 39 | 49 | +25.6% |
Summary: The Kinnelon real estate market had 49 homes for sale in March 2024, a 25.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 8 | 10 | +25.0% |
| 4 Bedrooms | 13 | 16 | +23.1% |
| 5+ Bedrooms | 16 | 21 | +31.3% |
Summary: The Kinnelon 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 25%, 4 bedroom homes increased by 23.1%, and 5+ bedroom homes increased by 31.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 7 | 8 | +14.3% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Kinnelon, you may be able to get a good deal. 62.5% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Kinnelon in March 2024, up by 14.3% month-over-month. Of the 8 sold homes, 63% were sold under asking, 25% were sold at asking, and 13% were sold over asking.
Days on Market for Kinnelon, NJ
We’re sorry, we don't have information for this market at the moment
