Is Ringwood, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Ringwood has remained a Seller's Market.
Key Takeaway
Ringwood is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Ringwood, NJ
How much do homes in Ringwood, NJ cost?
Median Sold Price
$507,500
$192/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Ringwood have sold for 9.5% more than they did a year ago.
Summary: The median home sold price in Ringwood was $507,500 in April 2024, up 9.5% from last year, and the median price per square foot was $192.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $360K | $351.5K | -2.4% |
| 3 Bedrooms | $460K | $502.5K | +9.2% |
| 4 Bedrooms | $565K | $580K | +2.7% |
| 5+ Bedrooms | $555K | $780K | +40.5% |
Summary: Ringwood housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 2.4%, 3 bedroom homes increased by 9.2%, 4 bedroom homes increased by 2.7%, and 5+ bedroom homes increased by 40.5%.
Median Sold Price Compared To Nearby Cities
| West Milford | $335K | $398.9K | +19.1% |
| Bloomingdale | $420K | $470K | +11.9% |
| Ringwood | $463.5K | $507.5K | +9.5% |
| Wanaque | $415K | $451K | +8.7% |
| Oakland | $620K | $619K | -0.2% |
Housing Supply in Ringwood, NJ
How many homes are available in Ringwood, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 24 | 30 | +25.0% |
Summary: The Ringwood real estate market had 30 homes for sale in April 2024, a 25.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 1 | -50.0% |
| 3 Bedrooms | 7 | 14 | +100.0% |
| 4 Bedrooms | 12 | 11 | -8.3% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The Ringwood housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes increased by 100%, 4 bedroom homes decreased by 8.3%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 4 | 6 | +50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Ringwood, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 6 homes were sold or pending in Ringwood in April 2024, up by 50.0% month-over-month. Of the 6 sold homes, 17% were sold under asking, 17% were sold at asking, and 67% were sold over asking.
Days on Market for Ringwood, NJ
How long does it take to sell a home in Ringwood, NJ?
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Most homes in Ringwood are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During April 2024, 6 homes were sold in Ringwood; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
