$7,005 Closing Credit*
$589,900
4 Beds
•2 Full Baths, 1 Partial
Listing Office: COMPASS NEW JERSEY LLC
Is Rockaway Township, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since September 2023
Since last year, Rockaway Township has remained a Seller's Market.
Key Takeaway
Rockaway Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Rockaway Township, NJ
How much do homes in Rockaway Township, NJ cost?
Median Sold Price
$513,500
$327/sqft
Based on all homes sold in the last 12 months.
Difference Since September 2023
+$68,500(+15.4%)
Key Takeaway
Homes in Rockaway Township have sold for 15.4% more than they did a year ago.
Summary: The median home sold price in Rockaway Township was $513,500 in September 2024, up 15.4% from last year, and the median price per square foot was $327.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $280K | $332.4K | +18.7% |
| 2 Bedrooms | $408.5K | $435K | +6.5% |
| 3 Bedrooms | $430K | $515K | +19.8% |
| 4 Bedrooms | $550K | $643.5K | +17.0% |
| 5+ Bedrooms | $662.5K | $802.5K | +21.1% |
Summary: Rockaway Township housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.7%, 2 bedroom homes increased by 6.5%, 3 bedroom homes increased by 19.8%, 4 bedroom homes increased by 17%, and 5+ bedroom homes increased by 21.1%.
Median Sold Price Compared To Nearby Cities
| Rockaway Township | $445K | $513.5K | +15.4% |
| Rockaway | $443.8K | $510K | +14.9% |
| Boonton Township | $608.5K | $653K | +7.3% |
| Denville Township | $555K | $578.7K | +4.3% |
| Denville | $566.5K | $577.5K | +1.9% |
Housing Supply in Rockaway Township, NJ
How many homes are available in Rockaway Township, NJ?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 144 | 132 | -8.3% |
Summary: The Rockaway Township real estate market had 132 homes for sale in September 2024, a 8.3% decrease compared to August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 10 | 12 | +20.0% |
| 2 Bedrooms | 38 | 39 | +2.6% |
| 3 Bedrooms | 59 | 52 | -11.9% |
| 4 Bedrooms | 26 | 21 | -19.2% |
| 5+ Bedrooms | 11 | 8 | -27.3% |
Summary: The Rockaway Township housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes increased by 2.6%, 3 bedroom homes decreased by 11.9%, 4 bedroom homes decreased by 19.2%, and 5+ bedroom homes decreased by 27.3%.
Number of Homes Sold
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 42 | 33 | -21.4% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
24 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Rockaway Township, you could pay more than the asking price. 72.7% of homes here sold above asking price last month.
Summary: A total of 33 homes were sold or pending in Rockaway Township in September 2024, down by 21.4% month-over-month. Of the 33 sold homes, 15% were sold under asking, 12% were sold at asking, and 73% were sold over asking.
Days on Market for Rockaway Township, NJ
We’re sorry, we don't have information for this market at the moment
Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement.