Is Paramus, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Paramus was a Seller's Market.
Key Takeaway
Paramus is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Paramus, NJ
How much do homes in Paramus, NJ cost?
Median Sold Price
$890,000
-
Based on all homes sold in April 2024.
Difference Since Last Month
Key Takeaway
Homes in Paramus have sold for 10.6% less than they did a month ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $550K | $880K | +60.0% |
| 4 Bedrooms | $895K | $1.0M | +17.2% |
| 5+ Bedrooms | $1.5M | - | N/A |
Summary: Paramus housing prices by bedroom type for April 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 increased by 60%, 4 bedroom homes increased by 17.2%, and 5+ bedroom homes did not change.
Housing Supply in Paramus, NJ
How many homes are available in Paramus, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 28 | 48 | +71.4% |
Summary: The Paramus real estate market had 48 homes for sale in April 2024, a 71.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 4 | +100.0% |
| 3 Bedrooms | 9 | 17 | +88.9% |
| 4 Bedrooms | 7 | 13 | +85.7% |
| 5+ Bedrooms | 12 | 14 | +16.7% |
Summary: The Paramus 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 increased by 100%, 3 bedroom homes increased by 88.9%, 4 bedroom homes increased by 85.7%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 5 | 4 | -20.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Paramus, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in Paramus in April 2024, down by 20.0% month-over-month. Of the 4 sold homes, 25% were sold under asking, 25% were sold at asking, and 50% were sold over asking.
Days on Market for Paramus, NJ
We’re sorry, we don't have information for this market at the moment
