Is Montville Township, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Montville Township is a neutral's market

Buyer's
Market

Difference Since February 2023

At the same time last year, Montville Township was a Seller's Market.

Key Takeaway

Montville Township is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Montville Township, NJ

How much do homes in Montville Township, NJ cost?

Median Sold Price

$710,000

$311/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$11,500(+1.6%)

Key Takeaway

Homes in Montville Township have sold for 1.6% more than they did a year ago.

Summary: The median home sold price in Montville Township was $710,000 in February 2024, up 1.6% from last year, and the median price per square foot was $311.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $295K$320.5K
+8.6%
2 $505.2K$550K
+8.9%
3 $625K$630K
+0.8%
4 $767.7K$815.5K
+6.2%
5+ $1.0M$1.1M
+5.7%

Summary: Montville Township housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.6%, 2 bedroom homes increased by 8.9%, 3 bedroom homes increased by 0.8%, 4 bedroom homes increased by 6.2%, and 5+ bedroom homes increased by 5.7%.

Median Sold Price Compared To Nearby Cities

Pine Brook
+7.4%
Lake Hiawatha
+5.7%
Montville Township
+1.6%
Fairfield Township
-1.6%
Montville
-2.2%

Housing Supply in Montville Township, NJ

How many homes are available in Montville Township, NJ?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
4648+4.3%

Summary: The Montville Township real estate market had 48 homes for sale in February 2024, a 4.3% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 10
-100.0%
2 63
-50.0%
3 911
+22.2%
4 1314
+7.7%
5+ 1720
+17.6%

Summary: The Montville Township housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 50%, 3 bedroom homes increased by 22.2%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes increased by 17.6%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
147-50.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Montville Township, you could pay more than the asking price. 57.1% of homes here sold above asking price last month.

Summary: A total of 7 homes were sold or pending in Montville Township in February 2024, down by 50.0% month-over-month. Of the 7 sold homes, 43% were sold under asking, 0% were sold at asking, and 57% were sold over asking.

Days on Market for Montville Township, NJ

We’re sorry, we don't have information for this market at the moment

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 27 Days Ago

Newest Listings in Montville Township, NJ

Nearby Markets to Montville Township, NJ

What housing markets are near Montville Township, NJ?