Is West Milford Township, 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 Township was a Seller's Market.
Key Takeaway
West Milford Township is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in West Milford Township, NJ
How much do homes in West Milford Township, NJ cost?
Median Sold Price
$408,500
$249/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in West Milford Township have sold for 13.4% more than they did a year ago.
Summary: The median home sold price in West Milford Township was $408,500 in March 2024, up 13.4% from last year, and the median price per square foot was $249.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $219.9K | $236.5K | +7.5% |
| 2 Bedrooms | $280K | $318K | +13.6% |
| 3 Bedrooms | $410K | $424.7K | +3.6% |
| 4 Bedrooms | $478K | $545K | +14.0% |
| 5+ Bedrooms | $615K | $644.5K | +4.8% |
Summary: West Milford Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.5%, 2 bedroom homes increased by 13.6%, 3 bedroom homes increased by 3.6%, 4 bedroom homes increased by 14%, and 5+ bedroom homes increased by 4.8%.
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% |
| Jefferson Township | $416.6K | $424.5K | +1.9% |
| Kinnelon | $735K | $710K | -3.4% |
Housing Supply in West Milford Township, NJ
How many homes are available in West Milford Township, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 96 | 117 | +21.9% |
Summary: The West Milford Township real estate market had 117 homes for sale in March 2024, a 21.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 3 | +200.0% |
| 2 Bedrooms | 28 | 38 | +35.7% |
| 3 Bedrooms | 37 | 44 | +18.9% |
| 4 Bedrooms | 25 | 27 | +8.0% |
| 5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The West Milford Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes increased by 35.7%, 3 bedroom homes increased by 18.9%, 4 bedroom homes increased by 8%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 16 | 18 | +12.5% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in West Milford Township, you may be able to get a good deal. 38.9% of homes here sold below asking price last month.
Summary: A total of 18 homes were sold or pending in West Milford Township in March 2024, up by 12.5% month-over-month. Of the 18 sold homes, 39% were sold under asking, 28% were sold at asking, and 33% were sold over asking.
Days on Market for West Milford Township, NJ
How long does it take to sell a home in West Milford Township, NJ?
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in West Milford Township are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 18 homes were sold in West Milford Township; 6% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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. 
Listings courtesy of OneKey MLS as distributed by MLS GRID.
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the OneKey™ MLS. Real Estate listings held by brokerage firms other than this broker are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. This information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. 
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.