Is Rockaway, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Rockaway is a seller's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in Rockaway, NJ

How much do homes in Rockaway, NJ cost?

Median Sold Price

$515,000

$336/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$64,250(+14.3%)

Key Takeaway

Homes in Rockaway have sold for 14.3% more than they did a year ago.

Summary: The median home sold price in Rockaway was $515,000 in November 2024, up 14.3% from last year, and the median price per square foot was $336.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $330K$338.3K
+2.5%
2 $406.6K$440K
+8.2%
3 $435K$515K
+18.4%
4 $545K$657.5K
+20.6%
5+ $662.5K$802.5K
+21.1%

Summary: Rockaway housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.5%, 2 bedroom homes increased by 8.2%, 3 bedroom homes increased by 18.4%, 4 bedroom homes increased by 20.6%, and 5+ bedroom homes increased by 21.1%.

Median Sold Price Compared To Nearby Cities

Rockaway
+14.3%
Rockaway Township
+14.1%
Denville Township
+5.3%
Denville
+3.7%

Housing Supply in Rockaway, NJ

How many homes are available in Rockaway, NJ?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
9385-8.6%

Summary: The Rockaway real estate market had 85 homes for sale in November 2024, a 8.6% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 88
0.0%
2 2819
-32.1%
3 3129
-6.5%
4 2225
+13.6%
5+ 44
0.0%

Summary: The Rockaway housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 32.1%, 3 bedroom homes decreased by 6.5%, 4 bedroom homes increased by 13.6%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
2916-44.8%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

11 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Rockaway, you could pay more than the asking price. 68.8% of homes here sold above asking price last month.

Summary: A total of 16 homes were sold or pending in Rockaway in November 2024, down by 44.8% month-over-month. Of the 16 sold homes, 13% were sold under asking, 19% were sold at asking, and 69% were sold over asking.

Days on Market for Rockaway, 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 10 Days Ago

Newest Listings in Rockaway, NJ

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