Is Short Hills, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Short Hills was a Neutral Market.
Key Takeaway
Short Hills is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Short Hills, NJ
How much do homes in Short Hills, NJ cost?
Median Sold Price
$1,935,000
-
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Short Hills have sold for 2.1% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | $750K | N/A |
| 3 Bedrooms | $1.0M | $1.4M | +38.9% |
| 4 Bedrooms | $1.5M | $1.7M | +12.4% |
| 5+ Bedrooms | $2.3M | $2.2M | -2.6% |
Summary: Short Hills 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 did not change, 3 bedroom homes increased by 38.9%, 4 bedroom homes increased by 12.4%, and 5+ bedroom homes decreased by 2.6%.
Median Sold Price Compared To Nearby Cities
| Millburn Township | $1.5M | $1.7M | +16.7% |
| Summit | $1.0M | $1.2M | +14.0% |
| Millburn | $999.4K | $1.1M | +13.6% |
| Springfield Township | $550K | $615K | +11.8% |
| Short Hills | $1.8M | $1.9M | +2.1% |
Housing Supply in Short Hills, NJ
How many homes are available in Short Hills, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 47 | 64 | +36.2% |
Summary: The Short Hills real estate market had 64 homes for sale in March 2024, a 36.2% 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 | 0 | 0 | 0.0% |
| 3 Bedrooms | 5 | 8 | +60.0% |
| 4 Bedrooms | 14 | 17 | +21.4% |
| 5+ Bedrooms | 28 | 39 | +39.3% |
Summary: The Short Hills 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 remained the same, 3 bedroom homes increased by 60%, 4 bedroom homes increased by 21.4%, and 5+ bedroom homes increased by 39.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 4 | 11 | +175.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Short Hills, you may be able to get a good deal. 45.5% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in Short Hills in March 2024, up by 175.0% month-over-month. Of the 11 sold homes, 45% were sold under asking, 9% were sold at asking, and 45% were sold over asking.
Days on Market for Short Hills, NJ
We’re sorry, we don't have information for this market at the moment
