Is Millburn, 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, Millburn has remained a Seller's Market.
Key Takeaway
Millburn is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Millburn, NJ
How much do homes in Millburn, NJ cost?
Median Sold Price
$1,100,000
-
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Millburn have sold for 10% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $310K | $306K | -1.3% |
| 2 Bedrooms | $445K | $423.7K | -4.8% |
| 3 Bedrooms | $860K | $1.0M | +21.5% |
| 4 Bedrooms | $1.1M | $1.2M | +9.3% |
| 5+ Bedrooms | $1.4M | $1.9M | +31.4% |
Summary: Millburn housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.3%, 2 bedroom homes decreased by 4.8%, 3 bedroom homes increased by 21.5%, 4 bedroom homes increased by 9.3%, and 5+ bedroom homes increased by 31.4%.
Median Sold Price Compared To Nearby Cities
| Millburn Township | $1.5M | $1.7M | +15.0% |
| Millburn | $999.9K | $1.1M | +10.0% |
| Short Hills | $1.8M | $1.9M | +8.0% |
| Maplewood | $830K | $851.5K | +2.6% |
Housing Supply in Millburn, NJ
How many homes are available in Millburn, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 18 | 28 | +55.6% |
Summary: The Millburn real estate market had 28 homes for sale in April 2024, a 55.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 3 | +200.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 4 | 5 | +25.0% |
| 4 Bedrooms | 6 | 9 | +50.0% |
| 5+ Bedrooms | 7 | 11 | +57.1% |
Summary: The Millburn housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes remained the same, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 57.1%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 3 | 5 | +66.7% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Millburn, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in Millburn in April 2024, up by 66.7% month-over-month. Of the 5 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Millburn, NJ
We’re sorry, we don't have information for this market at the moment
