Is Budd Lake, 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, Budd Lake has remained a Seller's Market.
Housing Prices in Budd Lake, NJ
How much do homes in Budd Lake, NJ cost?
Median Sold Price
$488,000
$224/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Budd Lake was $488,000 in April 2024, up 1.1% from last year, and the median price per square foot was $224.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $249K | - | N/A |
2 Bedrooms | $310K | $340K | +9.7% |
3 Bedrooms | $385K | $440K | +14.3% |
4 Bedrooms | $580K | $620K | +6.9% |
5+ Bedrooms | $571K | $575K | +0.7% |
Summary: Budd Lake housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 9.7%, 3 bedroom homes increased by 14.3%, 4 bedroom homes increased by 6.9%, and 5+ bedroom homes increased by 0.7%.
Median Sold Price Compared To Nearby Cities
Stanhope | $336K | $395K | +17.6% |
Allamuchy Township | $384.9K | $420K | +9.1% |
Mount Olive Township | $500K | $530K | +6.0% |
Budd Lake | $482.5K | $488K | +1.1% |
Housing Supply in Budd Lake, NJ
How many homes are available in Budd Lake, NJ?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
23 | 30 | +30.4% |
Summary: The Budd Lake real estate market had 30 homes for sale in April 2024, a 30.4% 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 | 2 | 3 | +50.0% |
3 Bedrooms | 9 | 16 | +77.8% |
4 Bedrooms | 10 | 8 | -20.0% |
5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Budd Lake 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 50%, 3 bedroom homes increased by 77.8%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
5 | 8 | +60.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 8 homes were sold or pending in Budd Lake in April 2024, up by 60.0% month-over-month. Of the 8 sold homes, 13% were sold under asking, 0% were sold at asking, and 88% were sold over asking.
Days on Market for Budd Lake, NJ
We’re sorry, we don't have information for this market at the moment