Is Mahwah Township, 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 Township was a Seller's Market.
Key Takeaway
Mahwah Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Mahwah Township, NJ
How much do homes in Mahwah Township, 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 Township have sold for 35.9% more than they did a year ago.
Summary: The median home sold price in Mahwah Township 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 Township 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%.
Housing Supply in Mahwah Township, NJ
How many homes are available in Mahwah Township, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 31 | 49 | +58.1% |
Summary: The Mahwah Township 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 Township 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 Township, 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 Township 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 Township, NJ
We’re sorry, we don't have information for this market at the moment
