Is West Milford, 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, West Milford was a Seller's Market.
Key Takeaway
West Milford is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in West Milford, NJ
How much do homes in West Milford, NJ cost?
Median Sold Price
$396,457
$250/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in West Milford have sold for 19.2% more than they did a year ago.
Summary: The median home sold price in West Milford was $396,457 in March 2024, up 19.2% from last year, and the median price per square foot was $250.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $204.9K | $260K | +26.9% |
| 2 Bedrooms | $270K | $310K | +14.8% |
| 3 Bedrooms | $415K | $418K | +0.7% |
| 4 Bedrooms | $505K | $536K | +6.1% |
| 5+ Bedrooms | $645K | $649K | +0.6% |
Summary: West Milford housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 26.9%, 2 bedroom homes increased by 14.8%, 3 bedroom homes increased by 0.7%, 4 bedroom homes increased by 6.1%, and 5+ bedroom homes increased by 0.6%.
Median Sold Price Compared To Nearby Cities
| West Milford | $332.5K | $396.4K | +19.2% |
| West Milford Township | $360.1K | $408.5K | +13.4% |
| Newfoundland | $467.5K | $525K | +12.3% |
| Hewitt | $370K | $397K | +7.3% |
| Stockholm | $358.9K | $365K | +1.7% |
Housing Supply in West Milford, NJ
How many homes are available in West Milford, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 52 | 65 | +25.0% |
Summary: The West Milford real estate market had 65 homes for sale in March 2024, a 25.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 2 | +100.0% |
| 2 Bedrooms | 12 | 20 | +66.7% |
| 3 Bedrooms | 22 | 22 | 0.0% |
| 4 Bedrooms | 13 | 16 | +23.1% |
| 5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The West Milford housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 66.7%, 3 bedroom homes remained the same, 4 bedroom homes increased by 23.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 11 | 8 | -27.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in West Milford, you may be able to get a good deal. 37.5% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in West Milford in March 2024, down by 27.3% month-over-month. Of the 8 sold homes, 38% were sold under asking, 25% were sold at asking, and 38% were sold over asking.
Days on Market for West Milford, 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. 
The data relating to real estate for sale on this web-site comes in part from the Internet Listing Display database of the CENTRAL JERSEY MULTIPLE LISTING SYSTEM. Real estate listings held by brokerage firms other than this site-owner are marked with the ILD logo. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM does not warrant the accuracy, quality, reliability, suitability, completeness, usefulness or effectiveness of any information provided. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify properties the consumer may be interested in purchasing or renting. Copyright 2024, CENTRAL JERSEY MULTIPLE LISTING SYSTEM. All Rights Reserved. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM retains all rights, title and interest in and to its trademarks, service marks and copyrighted material.