$7,719 Closing Credit*
$650,000
4 Beds
•3 Full Baths
Listing Office: PREMIUMONE REALTY
Is Randolph Township, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 2023
Since last year, Randolph Township has remained a Seller's Market.
Key Takeaway
Randolph Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Randolph Township, NJ
How much do homes in Randolph Township, NJ cost?
Median Sold Price
$755,000
$338/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2023
+$59,750(+8.6%)
Key Takeaway
Homes in Randolph Township have sold for 8.6% more than they did a year ago.
Summary: The median home sold price in Randolph Township was $755,000 in August 2024, up 8.6% from last year, and the median price per square foot was $338.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2023 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $460K | $525K | +14.1% |
| 3 Bedrooms | $530K | $601.5K | +13.5% |
| 4 Bedrooms | $735K | $859K | +16.9% |
| 5+ Bedrooms | $880K | $900K | +2.3% |
Summary: Randolph Township housing prices by bedroom type for August 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 14.1%, 3 bedroom homes increased by 13.5%, 4 bedroom homes increased by 16.9%, and 5+ bedroom homes increased by 2.3%.
Median Sold Price Compared To Nearby Cities
| Mine Hill Township | $395K | $475.5K | +20.4% |
| Mine Hill | $395K | $475.5K | +20.4% |
| Succasunna | $527K | $610.5K | +15.8% |
| Randolph | $690K | $750K | +8.7% |
| Randolph Township | $695.2K | $755K | +8.6% |
Housing Supply in Randolph Township, NJ
How many homes are available in Randolph Township, NJ?
Number of Homes For Sale
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 103 | 88 | -14.6% |
Summary: The Randolph Township real estate market had 88 homes for sale in August 2024, a 14.6% decrease compared to July 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 7 | 5 | -28.6% |
| 3 Bedrooms | 27 | 23 | -14.8% |
| 4 Bedrooms | 44 | 36 | -18.2% |
| 5+ Bedrooms | 25 | 24 | -4.0% |
Summary: The Randolph Township housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 28.6%, 3 bedroom homes decreased by 14.8%, 4 bedroom homes decreased by 18.2%, and 5+ bedroom homes decreased by 4%.
Number of Homes Sold
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 28 | 34 | +21.4% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
24 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Randolph Township, you could pay more than the asking price. 70.6% of homes here sold above asking price last month.
Summary: A total of 34 homes were sold or pending in Randolph Township in August 2024, up by 21.4% month-over-month. Of the 34 sold homes, 15% were sold under asking, 15% were sold at asking, and 71% were sold over asking.
Days on Market for Randolph Township, NJ
How long does it take to sell a home in Randolph Township, NJ?
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Randolph Township has remained consistent over time.
Summary: During August 2024, 34 homes were sold in Randolph Township; 0% of homes were sold within 30 days, 3% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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