Is Bloomfield, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Bloomfield was a Seller's Market.
Key Takeaway
Bloomfield is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Bloomfield, NJ
How much do homes in Bloomfield, NJ cost?
Median Sold Price
$533,500
$363/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Bloomfield have sold for 13.5% more than they did a year ago.
Summary: The median home sold price in Bloomfield was $533,500 in April 2024, up 13.5% from last year, and the median price per square foot was $363.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $207.5K | $245K | +18.1% |
| 2 Bedrooms | $355K | $340.5K | -4.1% |
| 3 Bedrooms | $489K | $545K | +11.5% |
| 4 Bedrooms | $528.5K | $587.5K | +11.2% |
| 5+ Bedrooms | $590K | $635K | +7.6% |
Summary: Bloomfield housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.1%, 2 bedroom homes decreased by 4.1%, 3 bedroom homes increased by 11.5%, 4 bedroom homes increased by 11.2%, and 5+ bedroom homes increased by 7.6%.
Median Sold Price Compared To Nearby Cities
| Bloomfield | $470K | $533.5K | +13.5% |
| Bloomfield Township | $470.5K | $534K | +13.5% |
| Glen Ridge | $884K | $982.9K | +11.2% |
| Belleville | $400K | $428K | +7.0% |
| Belleville Township | $398K | $420K | +5.5% |
Housing Supply in Bloomfield, NJ
How many homes are available in Bloomfield, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 80 | 125 | +56.3% |
Summary: The Bloomfield real estate market had 125 homes for sale in April 2024, a 56.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 8 | +166.7% |
| 2 Bedrooms | 11 | 16 | +45.5% |
| 3 Bedrooms | 34 | 45 | +32.4% |
| 4 Bedrooms | 17 | 23 | +35.3% |
| 5+ Bedrooms | 15 | 33 | +120.0% |
Summary: The Bloomfield housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 166.7%, 2 bedroom homes increased by 45.5%, 3 bedroom homes increased by 32.4%, 4 bedroom homes increased by 35.3%, and 5+ bedroom homes increased by 120%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 14 | 16 | +14.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
14 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Bloomfield, you could pay more than the asking price. 87.5% of homes here sold above asking price last month.
Summary: A total of 16 homes were sold or pending in Bloomfield in April 2024, up by 14.3% month-over-month. Of the 16 sold homes, 6% were sold under asking, 6% were sold at asking, and 88% were sold over asking.
Days on Market for Bloomfield, NJ
We’re sorry, we don't have information for this market at the moment
