Is Denville Township, 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, Denville Township was a Seller's Market.
Key Takeaway
Denville 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 Denville Township, NJ
How much do homes in Denville Township, NJ cost?
Median Sold Price
$560,000
$288/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Denville Township have sold for 4.9% more than they did a year ago.
Summary: The median home sold price in Denville Township was $560,000 in April 2024, up 4.9% from last year, and the median price per square foot was $288.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $320.5K | $255K | -20.4% |
| 2 Bedrooms | $392.5K | $445K | +13.4% |
| 3 Bedrooms | $493K | $550.5K | +11.7% |
| 4 Bedrooms | $670K | $653K | -2.5% |
| 5+ Bedrooms | $801K | $999.9K | +24.8% |
Summary: Denville Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 20.4%, 2 bedroom homes increased by 13.4%, 3 bedroom homes increased by 11.7%, 4 bedroom homes decreased by 2.5%, and 5+ bedroom homes increased by 24.8%.
Median Sold Price Compared To Nearby Cities
| Rockaway | $435K | $490.3K | +12.7% |
| Rockaway Township | $435.2K | $490K | +12.6% |
| Denville | $537K | $566.5K | +5.5% |
| Denville Township | $533.7K | $560K | +4.9% |
Housing Supply in Denville Township, NJ
How many homes are available in Denville Township, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 53 | 67 | +26.4% |
Summary: The Denville Township real estate market had 67 homes for sale in April 2024, a 26.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 2 | -33.3% |
| 2 Bedrooms | 10 | 17 | +70.0% |
| 3 Bedrooms | 18 | 25 | +38.9% |
| 4 Bedrooms | 15 | 17 | +13.3% |
| 5+ Bedrooms | 7 | 6 | -14.3% |
Summary: The Denville Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 70%, 3 bedroom homes increased by 38.9%, 4 bedroom homes increased by 13.3%, and 5+ bedroom homes decreased by 14.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 11 | 11 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
3 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Denville Township, you could pay more than the asking price. 63.6% of homes here sold above asking price last month.
Summary: A total of 11 homes were sold or pending in Denville Township in April 2024, the same as the previous month. Of the 11 sold homes, 9% were sold under asking, 27% were sold at asking, and 64% were sold over asking.
Days on Market for Denville Township, NJ
We’re sorry, we don't have information for this market at the moment
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