$10,000 Closing Credit*
$1,800,000
6,765 SqFt
5 Beds
•4 Full Baths, 2 Partial
Listing Office: RE/MAX ACHIEVERS
Is Mendham Township, 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, Mendham Township has remained a Seller's Market.
Key Takeaway
Mendham Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Mendham Township, NJ
How much do homes in Mendham Township, NJ cost?
Median Sold Price
$1,017,500
-
Based on all homes sold in the last 12 months.
Difference Since August 2023
+$192,500(+23.3%)
Key Takeaway
Homes in Mendham Township have sold for 23.3% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2023 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $600K | N/A |
| 2 Bedrooms | $426.2K | $537.5K | +26.1% |
| 3 Bedrooms | $595K | $729.5K | +22.6% |
| 4 Bedrooms | $832.5K | $1.1M | +35.0% |
| 5+ Bedrooms | $1.3M | $1.2M | -7.9% |
Summary: Mendham Township 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 increased by 26.1%, 3 bedroom homes increased by 22.6%, 4 bedroom homes increased by 35%, and 5+ bedroom homes decreased by 7.9%.
Median Sold Price Compared To Nearby Cities
| Mendham Township | $825K | $1.0M | +23.3% |
| Mendham | $813K | $999.9K | +23.0% |
| Bernardsville | $835K | $967K | +15.8% |
| Chester Township | $850K | $925K | +8.8% |
Housing Supply in Mendham Township, NJ
How many homes are available in Mendham Township, NJ?
Number of Homes For Sale
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 66 | 65 | -1.5% |
Summary: The Mendham Township real estate market had 65 homes for sale in August 2024, a 1.5% 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 | 1 | 1 | 0.0% |
| 3 Bedrooms | 6 | 5 | -16.7% |
| 4 Bedrooms | 32 | 33 | +3.1% |
| 5+ Bedrooms | 26 | 25 | -3.8% |
Summary: The Mendham Township 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 remained the same, 3 bedroom homes decreased by 16.7%, 4 bedroom homes increased by 3.1%, and 5+ bedroom homes decreased by 3.8%.
Number of Homes Sold
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 10 | 21 | +110.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mendham Township, you could pay more than the asking price. 71.4% of homes here sold above asking price last month.
Summary: A total of 21 homes were sold or pending in Mendham Township in August 2024, up by 110.0% month-over-month. Of the 21 sold homes, 14% were sold under asking, 14% were sold at asking, and 71% were sold over asking.
Days on Market for Mendham Township, 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.