Is Elmwood Park, 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, Elmwood Park has remained a Seller's Market.
Key Takeaway
Elmwood Park is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Elmwood Park, NJ
How much do homes in Elmwood Park, NJ cost?
Median Sold Price
$480,758
-
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Elmwood Park have sold for 5.7% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $107.5K | N/A |
| 2 Bedrooms | $390K | $422.5K | +8.3% |
| 3 Bedrooms | $432.5K | $525K | +21.4% |
| 4 Bedrooms | $470K | $540K | +14.9% |
| 5+ Bedrooms | $527.5K | - | N/A |
Summary: Elmwood Park 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 8.3%, 3 bedroom homes increased by 21.4%, 4 bedroom homes increased by 14.9%, and 5+ bedroom homes did not change.
Housing Supply in Elmwood Park, NJ
How many homes are available in Elmwood Park, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 16 | 27 | +68.8% |
Summary: The Elmwood Park real estate market had 27 homes for sale in April 2024, a 68.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 5 | +25.0% |
| 2 Bedrooms | 2 | 4 | +100.0% |
| 3 Bedrooms | 5 | 9 | +80.0% |
| 4 Bedrooms | 4 | 7 | +75.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Elmwood Park housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 80%, 4 bedroom homes increased by 75%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2 | 5 | +150.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Elmwood Park, expect to pay close to the asking price. 40% of homes here sold near the asking price last month.
Summary: A total of 5 homes were sold or pending in Elmwood Park in April 2024, up by 150.0% month-over-month. Of the 5 sold homes, 20% were sold under asking, 40% were sold at asking, and 40% were sold over asking.
Days on Market for Elmwood Park, NJ
We’re sorry, we don't have information for this market at the moment
