Is Mahwah, 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, Mahwah was a Seller's Market.
Key Takeaway
Mahwah is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Mahwah, NJ
How much do homes in Mahwah, NJ cost?
Median Sold Price
$702,500
$380/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Mahwah have sold for 35.9% more than they did a year ago.
Summary: The median home sold price in Mahwah was $702,500 in March 2024, up 35.9% from last year, and the median price per square foot was $380.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $350K | $282K | -19.4% |
| 2 Bedrooms | $415K | $483.5K | +16.5% |
| 3 Bedrooms | $589.7K | $735K | +24.6% |
| 4 Bedrooms | $875K | $950K | +8.6% |
| 5+ Bedrooms | $999K | $1.5M | +58.1% |
Summary: Mahwah housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 19.4%, 2 bedroom homes increased by 16.5%, 3 bedroom homes increased by 24.6%, 4 bedroom homes increased by 8.6%, and 5+ bedroom homes increased by 58.1%.
Median Sold Price Compared To Nearby Cities
| Mahwah | $517K | $702.5K | +35.9% |
| Mahwah Township | $517K | $702.5K | +35.9% |
| Allendale | $999.9K | $1.0M | +3.3% |
| Ramsey | $650K | $668K | +2.8% |
| Suffern | $510K | $522.5K | +2.5% |
Housing Supply in Mahwah, NJ
How many homes are available in Mahwah, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 31 | 49 | +58.1% |
Summary: The Mahwah real estate market had 49 homes for sale in March 2024, a 58.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 5 | +150.0% |
| 2 Bedrooms | 17 | 30 | +76.5% |
| 3 Bedrooms | 3 | 4 | +33.3% |
| 4 Bedrooms | 3 | 6 | +100.0% |
| 5+ Bedrooms | 6 | 4 | -33.3% |
Summary: The Mahwah housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 150%, 2 bedroom homes increased by 76.5%, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 100%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 6 | 5 | -16.7% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mahwah, you could pay more than the asking price. 80% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in Mahwah in March 2024, down by 16.7% month-over-month. Of the 5 sold homes, 20% were sold under asking, 0% were sold at asking, and 80% were sold over asking.
Days on Market for Mahwah, NJ
We’re sorry, we don't have information for this market at the moment
