Is Northfield, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Northfield is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, Northfield has remained a Seller's Market.

Key Takeaway

Northfield is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Northfield, NJ

How much do homes in Northfield, NJ cost?

Median Sold Price

$565,000

$204/sqft

Based on all homes sold in November 2024.

Difference Since Last Month

+$152,500(+37.0%)

Key Takeaway

Homes in Northfield have sold for 37% more than they did a month ago.

Summary: The median home sold price in Northfield was $565,000 in November 2024, up 37% from last month, and the median price per square foot was $204.

Median Sold Price By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 --
N/A
2 -$255K
N/A
3 $385K$298K
-22.6%
4 $495K$585K
+18.2%
5+ --
N/A

Summary: Northfield housing prices by bedroom type for November 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 22.6%, 4 bedroom homes increased by 18.2%, and 5+ bedroom homes did not change.

Housing Supply in Northfield, NJ

How many homes are available in Northfield, NJ?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
5139-23.5%

Summary: The Northfield real estate market had 39 homes for sale in November 2024, a 23.5% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 33
0.0%
3 2414
-41.7%
4 2119
-9.5%
5+ 33
0.0%

Summary: The Northfield housing inventory by bedroom type for November 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 41.7%, 4 bedroom homes decreased by 9.5%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
1315+15.4%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Northfield, you may be able to get a good deal. 63.6% of homes here sold below asking price last month.

Summary: A total of 15 homes were sold or pending in Northfield in November 2024, up by 15.4% month-over-month. Of the 11 sold homes, 64% were sold under asking, 9% were sold at asking, and 27% were sold over asking.

Days on Market for Northfield, NJ

How long does it take to sell a home in Northfield, NJ?

Average Sale Time

Oct 2024Nov 2024CHANGE
39 Days37 Days-4.8%

Summary: Homes in Northfield had an average of 37 days on market in Nov 2024, down by 4.8% compared to last month.

Breakdown of Home Sale Times

8 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Northfield are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 15 homes were sold in Northfield; 53% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.

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

Report Updated 10 Days Ago

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