Is Lake Hiawatha, 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, Lake Hiawatha has remained a Seller's Market.
Housing Prices in Lake Hiawatha, NJ
How much do homes in Lake Hiawatha, NJ cost?
Median Sold Price
$425,000
$195/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Lake Hiawatha was $425,000 in April 2024, up 6.3% from last year, and the median price per square foot was $195.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $178K | $220K | +23.6% |
2 Bedrooms | $305K | $310K | +1.6% |
3 Bedrooms | $439K | $425K | -3.2% |
4 Bedrooms | $480.5K | $545K | +13.4% |
5+ Bedrooms | $755K | $750K | -0.7% |
Summary: Lake Hiawatha housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 23.6%, 2 bedroom homes increased by 1.6%, 3 bedroom homes decreased by 3.2%, 4 bedroom homes increased by 13.4%, and 5+ bedroom homes decreased by 0.7%.
Median Sold Price Compared To Nearby Cities
Parsippany-Troy Hills Township | $540K | $585K | +8.3% |
Lake Hiawatha | $400K | $425K | +6.3% |
Parsippany | $595K | $628K | +5.5% |
Montville Township | $707.5K | $739.5K | +4.5% |
Montville | $699.4K | $726K | +3.8% |
Housing Supply in Lake Hiawatha, NJ
How many homes are available in Lake Hiawatha, NJ?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
21 | 23 | +9.5% |
Summary: The Lake Hiawatha real estate market had 23 homes for sale in April 2024, a 9.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 3 | 0.0% |
2 Bedrooms | 2 | 2 | 0.0% |
3 Bedrooms | 5 | 9 | +80.0% |
4 Bedrooms | 8 | 7 | -12.5% |
5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The Lake Hiawatha 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 remained the same, 3 bedroom homes increased by 80%, 4 bedroom homes decreased by 12.5%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
4 | 6 | +50.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 6 homes were sold or pending in Lake Hiawatha in April 2024, up by 50.0% month-over-month. Of the 6 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.
Days on Market for Lake Hiawatha, NJ
How long does it take to sell a home in Lake Hiawatha, NJ?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
26 Days | 38 Days | +46.2% |
Summary: Homes in Lake Hiawatha had an average of 38 days on market in Apr 2024, up by 46.2% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 6 homes were sold in Lake Hiawatha; 0% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.