$3,384 Closing Credit*
$285,000
2 Beds
•1 Full Bath
Listing Office: RE/MAX SELECT
Is Parsippany-Troy Hills Township, 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, Parsippany-Troy Hills Township has remained a Seller's Market.
Key Takeaway
Parsippany-Troy Hills Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Parsippany-Troy Hills Township, NJ
How much do homes in Parsippany-Troy Hills Township, NJ cost?
Median Sold Price
$650,000
$335/sqft
Based on all homes sold in the last 12 months.
Difference Since September 2023
+$96,850(+17.5%)
Key Takeaway
Homes in Parsippany-Troy Hills Township have sold for 17.5% more than they did a year ago.
Summary: The median home sold price in Parsippany-Troy Hills Township was $650,000 in September 2024, up 17.5% from last year, and the median price per square foot was $335.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $205K | $236.5K | +15.4% |
| 2 Bedrooms | $425K | $500K | +17.6% |
| 3 Bedrooms | $520K | $585.5K | +12.6% |
| 4 Bedrooms | $648K | $727K | +12.2% |
| 5+ Bedrooms | $835K | $855K | +2.4% |
Summary: Parsippany-Troy Hills Township housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.4%, 2 bedroom homes increased by 17.6%, 3 bedroom homes increased by 12.6%, 4 bedroom homes increased by 12.2%, and 5+ bedroom homes increased by 2.4%.
Median Sold Price Compared To Nearby Cities
| Lake Hiawatha | $390.5K | $480K | +22.9% |
| Parsippany-Troy Hills Township | $553.1K | $650K | +17.5% |
| Mountain Lakes | $950K | $1.1M | +15.8% |
| Parsippany | $595K | $682K | +14.6% |
| Boonton | $608.5K | $656.5K | +7.9% |
Housing Supply in Parsippany-Troy Hills Township, NJ
How many homes are available in Parsippany-Troy Hills Township, NJ?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 139 | 154 | +10.8% |
Summary: The Parsippany-Troy Hills Township real estate market had 154 homes for sale in September 2024, a 10.8% increase compared to August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 9 | +50.0% |
| 2 Bedrooms | 20 | 26 | +30.0% |
| 3 Bedrooms | 48 | 44 | -8.3% |
| 4 Bedrooms | 39 | 51 | +30.8% |
| 5+ Bedrooms | 26 | 24 | -7.7% |
Summary: The Parsippany-Troy Hills Township housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 30%, 3 bedroom homes decreased by 8.3%, 4 bedroom homes increased by 30.8%, and 5+ bedroom homes decreased by 7.7%.
Number of Homes Sold
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 41 | 42 | +2.4% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
39 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Parsippany-Troy Hills Township, you could pay more than the asking price. 92.9% of homes here sold above asking price last month.
Summary: A total of 42 homes were sold or pending in Parsippany-Troy Hills Township in September 2024, up by 2.4% month-over-month. Of the 42 sold homes, 5% were sold under asking, 2% were sold at asking, and 93% were sold over asking.
Days on Market for Parsippany-Troy Hills Township, NJ
We’re sorry, we don't have information for this market at the moment
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