Is Pequannock, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Pequannock has remained a Seller's Market.
Key Takeaway
Pequannock is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Pequannock, NJ
How much do homes in Pequannock, NJ cost?
Median Sold Price
$535,000
-
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Pequannock have sold for 11.6% less than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $217.5K | $244K | +12.2% |
| 2 Bedrooms | $445K | $420K | -5.6% |
| 3 Bedrooms | $520K | $545K | +4.8% |
| 4 Bedrooms | $625K | $630K | +0.8% |
| 5+ Bedrooms | $779.9K | $535K | -31.4% |
Summary: Pequannock housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.2%, 2 bedroom homes decreased by 5.6%, 3 bedroom homes increased by 4.8%, 4 bedroom homes increased by 0.8%, and 5+ bedroom homes decreased by 31.4%.
Median Sold Price Compared To Nearby Cities
| Pompton Plains | $513K | $550K | +7.2% |
| Wayne | $609.4K | $632.5K | +3.8% |
| Wayne Township | $609.6K | $631.2K | +3.5% |
| Pequannock Township | $545K | $550K | +0.9% |
| Pequannock | $605K | $535K | -11.6% |
Housing Supply in Pequannock, NJ
How many homes are available in Pequannock, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 7 | 7 | 0.0% |
Summary: The Pequannock real estate market had 7 homes for sale in March 2024, the same as February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 3 | 4 | +33.3% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Pequannock housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 2 | 3 | +50.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Pequannock, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in Pequannock in March 2024, up by 50.0% month-over-month. Of the 3 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Pequannock, NJ
How long does it take to sell a home in Pequannock, NJ?
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Pequannock are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 3 homes were sold in Pequannock; 33% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
