Is Pompton Lakes, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Pompton Lakes is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, Pompton Lakes has remained a Seller's Market.

Key Takeaway

Pompton Lakes is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Pompton Lakes, NJ

How much do homes in Pompton Lakes, NJ cost?

Median Sold Price

$485,000

-

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$35,000(+7.8%)

Key Takeaway

Homes in Pompton Lakes have sold for 7.8% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $227.5K$247.5K
+8.8%
2 $362K$432.5K
+19.5%
3 $470K$530K
+12.8%
4 $517K$574.5K
+11.1%
5+ $776K$617.4K
-20.4%

Summary: Pompton Lakes housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.8%, 2 bedroom homes increased by 19.5%, 3 bedroom homes increased by 12.8%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes decreased by 20.4%.

Median Sold Price Compared To Nearby Cities

Pequannock Township
+12.8%
Haskell
+11.9%
Pompton Lakes
+7.8%
Riverdale
+1.2%
Oakland
+0.8%

Housing Supply in Pompton Lakes, NJ

How many homes are available in Pompton Lakes, NJ?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
4645-2.2%

Summary: The Pompton Lakes real estate market had 45 homes for sale in October 2024, a 2.2% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 1414
0.0%
3 1719
+11.8%
4 1210
-16.7%
5+ 21
-50.0%

Summary: The Pompton Lakes housing inventory by bedroom type for October 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 11.8%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes decreased by 50%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
159-40.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

2 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Pompton Lakes, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.

Summary: A total of 9 homes were sold or pending in Pompton Lakes in October 2024, down by 40.0% month-over-month. Of the 9 sold homes, 11% were sold under asking, 22% were sold at asking, and 67% were sold over asking.

Days on Market for Pompton Lakes, NJ

We’re sorry, we don't have information for this market at the moment

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

Report Updated 6 Days Ago

Newest Listings in Pompton Lakes, NJ

Nearby Markets to Pompton Lakes, NJ

What housing markets are near Pompton Lakes, NJ?