Is Stanhope, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Stanhope has remained a Seller's Market.
Key Takeaway
Stanhope is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Stanhope, NJ
How much do homes in Stanhope, NJ cost?
Median Sold Price
$390,000
$208/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Stanhope have sold for 16.2% more than they did a year ago.
Summary: The median home sold price in Stanhope was $390,000 in March 2024, up 16.2% from last year, and the median price per square foot was $208.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $205K | $249K | +21.5% |
| 2 Bedrooms | $270K | $295K | +9.3% |
| 3 Bedrooms | $355K | $400K | +12.7% |
| 4 Bedrooms | $425K | $432.5K | +1.8% |
| 5+ Bedrooms | $475K | $480K | +1.1% |
Summary: Stanhope housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 21.5%, 2 bedroom homes increased by 9.3%, 3 bedroom homes increased by 12.7%, 4 bedroom homes increased by 1.8%, and 5+ bedroom homes increased by 1.1%.
Median Sold Price Compared To Nearby Cities
| Stanhope | $335.7K | $390K | +16.2% |
| Roxbury Township | $458.3K | $510K | +11.3% |
| Byram Township | $410K | $443K | +8.0% |
| Landing | $406K | $435K | +7.1% |
| Netcong | $375K | $390K | +4.0% |
Housing Supply in Stanhope, NJ
How many homes are available in Stanhope, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 34 | 39 | +14.7% |
Summary: The Stanhope real estate market had 39 homes for sale in March 2024, a 14.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 8 | 8 | 0.0% |
| 2 Bedrooms | 3 | 4 | +33.3% |
| 3 Bedrooms | 13 | 18 | +38.5% |
| 4 Bedrooms | 7 | 6 | -14.3% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Stanhope 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 increased by 33.3%, 3 bedroom homes increased by 38.5%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 4 | 10 | +150.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Stanhope, you could pay more than the asking price. 70% of homes here sold above asking price last month.
Summary: A total of 10 homes were sold or pending in Stanhope in March 2024, up by 150.0% month-over-month. Of the 10 sold homes, 10% were sold under asking, 20% were sold at asking, and 70% were sold over asking.
Days on Market for Stanhope, NJ
We’re sorry, we don't have information for this market at the moment
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