Is Watchung, 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, Watchung has remained a Buyer's Market.
Housing Prices in Watchung, NJ
How much do homes in Watchung, NJ cost?
Median Sold Price
$940,000
$320/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Watchung was $940,000 in March 2024, up 5.6% from last year, and the median price per square foot was $320.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $105K | - | N/A |
2 Bedrooms | $550K | $749.9K | +36.3% |
3 Bedrooms | $605K | $729.5K | +20.6% |
4 Bedrooms | $765K | $950K | +24.2% |
5+ Bedrooms | $1.2M | $1.2M | -0.8% |
Summary: Watchung 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 increased by 36.3%, 3 bedroom homes increased by 20.6%, 4 bedroom homes increased by 24.2%, and 5+ bedroom homes decreased by 0.8%.
Median Sold Price Compared To Nearby Cities
North Plainfield | $390K | $455K | +16.7% |
Scotch Plains | $651.6K | $750K | +15.1% |
Berkeley Heights | $680K | $750K | +10.3% |
Berkeley Heights Township | $685K | $750K | +9.5% |
Watchung | $890K | $940K | +5.6% |
Housing Supply in Watchung, NJ
How many homes are available in Watchung, NJ?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
16 | 22 | +37.5% |
Summary: The Watchung real estate market had 22 homes for sale in March 2024, a 37.5% 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 | 2 | 3 | +50.0% |
3 Bedrooms | 3 | 5 | +66.7% |
4 Bedrooms | 6 | 9 | +50.0% |
5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The Watchung 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 50%, 3 bedroom homes increased by 66.7%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
2 | 3 | +50.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 3 homes were sold or pending in Watchung in March 2024, up by 50.0% month-over-month. Of the 3 sold homes, 0% were sold under asking, 67% were sold at asking, and 33% were sold over asking.
Days on Market for Watchung, NJ
We’re sorry, we don't have information for this market at the moment