$10,000 Closing Credit*
$929,900
4 Beds
•2 Full Baths, 2 Partial
Listing Office: KELLER WILLIAMS VILLAGE SQUARE
Is Oakland, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since September 2023
Since last year, Oakland has remained a Seller's Market.
Key Takeaway
Oakland is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Oakland, NJ
How much do homes in Oakland, NJ cost?
Median Sold Price
$620,000
-
Based on all homes sold in the last 12 months.
Difference Since September 2023
-$12,500(-2.0%)
Key Takeaway
Homes in Oakland have sold for 2% less than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $166K | $290K | +74.7% |
| 2 Bedrooms | $455K | $500K | +9.9% |
| 3 Bedrooms | $627.5K | $595K | -5.2% |
| 4 Bedrooms | $700K | $735K | +5.0% |
| 5+ Bedrooms | $625K | $1.0M | +62.4% |
Summary: Oakland housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 74.7%, 2 bedroom homes increased by 9.9%, 3 bedroom homes decreased by 5.2%, 4 bedroom homes increased by 5%, and 5+ bedroom homes increased by 62.4%.
Median Sold Price Compared To Nearby Cities
| Pompton Lakes | $438.2K | $487.5K | +11.2% |
| Wanaque | $424K | $453K | +6.8% |
| Mahwah Township | $585K | $584.9K | 0% |
| Oakland | $632.5K | $620K | -2.0% |
Housing Supply in Oakland, NJ
How many homes are available in Oakland, NJ?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 49 | 52 | +6.1% |
Summary: The Oakland real estate market had 52 homes for sale in September 2024, a 6.1% increase compared to August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 6 | 3 | -50.0% |
| 3 Bedrooms | 18 | 24 | +33.3% |
| 4 Bedrooms | 19 | 20 | +5.3% |
| 5+ Bedrooms | 6 | 5 | -16.7% |
Summary: The Oakland housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes decreased by 16.7%.
Number of Homes Sold
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 12 | 11 | -8.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Oakland, you could pay more than the asking price. 81.8% of homes here sold above asking price last month.
Summary: A total of 11 homes were sold or pending in Oakland in September 2024, down by 8.3% month-over-month. Of the 11 sold homes, 9% were sold under asking, 9% were sold at asking, and 82% were sold over asking.
Days on Market for Oakland, NJ
We’re sorry, we don't have information for this market at the moment
