$10,000 Closing Credit*
$1,199,900
5 Beds
•4 Full Baths, 2 Partial
Lisa Masterson, Listing Office: Prominent Properties Sotheby's International Realty-Towaco
Is Kinnelon, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 2023
Since last year, Kinnelon has remained a Seller's Market.
Key Takeaway
Kinnelon is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Kinnelon, NJ
How much do homes in Kinnelon, NJ cost?
Median Sold Price
$770,000
-
Based on all homes sold in the last 12 months.
Difference Since August 2023
+$72,000(+10.3%)
Key Takeaway
Homes in Kinnelon have sold for 10.3% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2023 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $250K | - | N/A |
| 2 Bedrooms | $367.5K | $351.5K | -4.4% |
| 3 Bedrooms | $540K | $645K | +19.4% |
| 4 Bedrooms | $737.5K | $777K | +5.4% |
| 5+ Bedrooms | $1.0M | $1.3M | +21.9% |
Summary: Kinnelon housing prices by bedroom type for August 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 4.4%, 3 bedroom homes increased by 19.4%, 4 bedroom homes increased by 5.4%, and 5+ bedroom homes increased by 21.9%.
Median Sold Price Compared To Nearby Cities
| Butler | $406.5K | $525K | +29.2% |
| West Milford Township | $366.5K | $425K | +16.0% |
| Kinnelon | $698K | $770K | +10.3% |
| Newfoundland | $520K | $545K | +4.8% |
| Riverdale | $410K | $415K | +1.2% |
Housing Supply in Kinnelon, NJ
How many homes are available in Kinnelon, NJ?
Number of Homes For Sale
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 58 | 50 | -13.8% |
Summary: The Kinnelon real estate market had 50 homes for sale in August 2024, a 13.8% decrease compared to July 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 3 | 2 | -33.3% |
| 3 Bedrooms | 15 | 11 | -26.7% |
| 4 Bedrooms | 22 | 20 | -9.1% |
| 5+ Bedrooms | 17 | 16 | -5.9% |
Summary: The Kinnelon housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 33.3%, 3 bedroom homes decreased by 26.7%, 4 bedroom homes decreased by 9.1%, and 5+ bedroom homes decreased by 5.9%.
Number of Homes Sold
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 18 | 14 | -22.2% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Kinnelon, you could pay more than the asking price. 64.3% of homes here sold above asking price last month.
Summary: A total of 14 homes were sold or pending in Kinnelon in August 2024, down by 22.2% month-over-month. Of the 14 sold homes, 29% were sold under asking, 7% were sold at asking, and 64% were sold over asking.
Days on Market for Kinnelon, NJ
We’re sorry, we don't have information for this market at the moment
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Monmouth/Ocean MLS Monmouth County Association Board of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright © 2024 Monmouth/Ocean MLS Monmouth County Association Board of Realtors. All Rights Reserved.