Is Montville, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Montville was a Seller's Market.
Key Takeaway
Montville is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Montville, NJ
How much do homes in Montville, NJ cost?
Median Sold Price
$726,000
$316/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Montville have sold for 3.8% more than they did a year ago.
Summary: The median home sold price in Montville was $726,000 in April 2024, up 3.8% from last year, and the median price per square foot was $316.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $300K | $327.7K | +9.3% |
| 2 Bedrooms | $540K | $550K | +1.9% |
| 3 Bedrooms | $661K | $643.5K | -2.6% |
| 4 Bedrooms | $812.5K | $882.5K | +8.6% |
| 5+ Bedrooms | $1.0M | $1.1M | +5.6% |
Summary: Montville housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.3%, 2 bedroom homes increased by 1.9%, 3 bedroom homes decreased by 2.6%, 4 bedroom homes increased by 8.6%, and 5+ bedroom homes increased by 5.6%.
Median Sold Price Compared To Nearby Cities
| Boonton | $600K | $666K | +11.0% |
| Lake Hiawatha | $400K | $425K | +6.3% |
| Montville Township | $707.5K | $739.5K | +4.5% |
| Montville | $699.4K | $726K | +3.8% |
| Towaco | $745.5K | $700K | -6.1% |
Housing Supply in Montville, NJ
How many homes are available in Montville, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 38 | 43 | +13.2% |
Summary: The Montville real estate market had 43 homes for sale in April 2024, a 13.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 5 | 4 | -20.0% |
| 3 Bedrooms | 15 | 14 | -6.7% |
| 4 Bedrooms | 10 | 15 | +50.0% |
| 5+ Bedrooms | 7 | 9 | +28.6% |
Summary: The Montville 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 decreased by 20%, 3 bedroom homes decreased by 6.7%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 28.6%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 8 | 6 | -25.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Montville, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Montville in April 2024, down by 25.0% month-over-month. Of the 6 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Montville, NJ
We’re sorry, we don't have information for this market at the moment
