Is Randolph, 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, Randolph has remained a Seller's Market.
Housing Prices in Randolph, NJ
How much do homes in Randolph, NJ cost?
Median Sold Price
$715,000
$372/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Randolph was $715,000 in March 2024, up 3.6% from last year, and the median price per square foot was $372.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $405K | $460K | +13.6% |
3 Bedrooms | $515K | $550K | +6.8% |
4 Bedrooms | $730K | $775K | +6.2% |
5+ Bedrooms | $850K | $815K | -4.1% |
Summary: Randolph housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 13.6%, 3 bedroom homes increased by 6.8%, 4 bedroom homes increased by 6.2%, and 5+ bedroom homes decreased by 4.1%.
Median Sold Price Compared To Nearby Cities
Randolph | $690K | $715K | +3.6% |
Randolph Township | $690.5K | $715K | +3.5% |
Mine Hill Township | $410K | $419K | +2.2% |
Mine Hill | $410K | $419K | +2.2% |
Housing Supply in Randolph, NJ
How many homes are available in Randolph, NJ?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
50 | 58 | +16.0% |
Summary: The Randolph real estate market had 58 homes for sale in March 2024, a 16.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 2 | 3 | +50.0% |
3 Bedrooms | 16 | 14 | -12.5% |
4 Bedrooms | 21 | 27 | +28.6% |
5+ Bedrooms | 11 | 14 | +27.3% |
Summary: The Randolph 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 increased by 50%, 3 bedroom homes decreased by 12.5%, 4 bedroom homes increased by 28.6%, and 5+ bedroom homes increased by 27.3%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
8 | 12 | +50.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 12 homes were sold or pending in Randolph in March 2024, up by 50.0% month-over-month. Of the 12 sold homes, 0% were sold under asking, 25% were sold at asking, and 75% were sold over asking.
Days on Market for Randolph, NJ
How long does it take to sell a home in Randolph, NJ?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
31 Days | 9 Days | -71.0% |
Summary: Homes in Randolph had an average of 9 days on market in Mar 2024, down by 71% compared to last year.
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
Summary: During March 2024, 12 homes were sold in Randolph; 8% 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.