Is Whippany, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Whippany has remained a Seller's Market.
Key Takeaway
Whippany is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Whippany, NJ
How much do homes in Whippany, NJ cost?
Median Sold Price
$625,000
-
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Whippany have sold for 13.1% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $335K | $410K | +22.4% |
| 2 Bedrooms | $459K | $500K | +8.9% |
| 3 Bedrooms | $567.5K | $655K | +15.4% |
| 4 Bedrooms | $659.5K | $750K | +13.7% |
| 5+ Bedrooms | $952K | $1.3M | +40.2% |
Summary: Whippany housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 22.4%, 2 bedroom homes increased by 8.9%, 3 bedroom homes increased by 15.4%, 4 bedroom homes increased by 13.7%, and 5+ bedroom homes increased by 40.2%.
Median Sold Price Compared To Nearby Cities
| Whippany | $552.5K | $625K | +13.1% |
| Hanover Township | $562.5K | $613.7K | +9.1% |
| East Hanover Township | $626K | $675K | +7.8% |
| Morris Township | $750K | $775.2K | +3.4% |
Housing Supply in Whippany, NJ
How many homes are available in Whippany, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 9 | 15 | +66.7% |
Summary: The Whippany real estate market had 15 homes for sale in April 2024, a 66.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 3 | +200.0% |
| 3 Bedrooms | 5 | 6 | +20.0% |
| 4 Bedrooms | 2 | 5 | +150.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Whippany housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 200%, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 150%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 0 | 3 | +100.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Whippany, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in Whippany in April 2024, up by 100.0% month-over-month. Of the 3 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Whippany, NJ
We’re sorry, we don't have information for this market at the moment
