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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Oakland is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, 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.

How much do homes in Oakland, NJ cost?

Median Sold Price

$600,000

-

Based on all homes sold in November 2022.

Difference Since Last Month

-$30,000(-4.8%)

Key Takeaway

Homes in Oakland have sold for 4.8% less than they did a month ago.

Median Sold Price By Bedroom Count

# BEDSOct 2022Nov 2022%
1 $219K-
N/A
2 $675K$360K
-46.7%
3 $515K$600K
+16.5%
4 $660K$799.5K
+21.1%
5+ $630K-
N/A

Median Sold Price Compared To Nearby Cities

Franklin Lakes
+41.7%
Oakland
-4.8%
Wanaque
-5.3%
Pompton Lakes
-7.9%
Mahwah Township
-14.2%

How many homes are available in Oakland, NJ?

Number of Homes For Sale

Oct 2022Nov 2022%
4841-14.6%

Homes For Sale By Bedroom Count

# BEDSOct 2022Nov 2022%
1 21
-50.0%
2 55
0.0%
3 1918
-5.3%
4 1612
-25.0%
5+ 65
-16.7%

Number of Homes Sold

Oct 2022Nov 2022%
158-46.7%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Oakland, you may be able to get a good deal. 62.5% of homes here sold below asking price last month.

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

About Oakland, NJ

Oakland, NJ has 41 homes on the market. The number of homes for sale in Oakland, NJ decreased by 14.6% between October 2022 and November 2022. Listing prices have changed in this real estate market between November 2021 and November 2022: 1 bedroom properties prices increased by 0%, 2 bedrooms properties became 46.7% more cheaper, prices of 3 bedrooms properties went up by 16.5%, prices of 4 bedrooms properties increased by 21.1%, prices of 5 bedrooms properties went up by 0%. Volume of homes for sale changed: number of 1 bedroom homes decreased by 50%, volume of 2 bedrooms homes stayed the same, 3 bedrooms homes became 5.3% less available, volume of 4 bedrooms homes went down by 25%, 5 bedrooms homes became 16.7% less available. In November 2022 more than 3 listings in Oakland, NJ were sold above the asking price. During the same period more than 0 listings were sold at asking price, while more than 5 were sold below.

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