Is Florham Park, 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, Florham Park was a Seller's Market.
Key Takeaway
Florham Park is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Florham Park, NJ
How much do homes in Florham Park, NJ cost?
Median Sold Price
$905,000
-
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Florham Park have sold for 14.6% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $357K | $413K | +15.7% |
| 2 Bedrooms | $565K | $743.5K | +31.6% |
| 3 Bedrooms | $645.5K | $670K | +3.8% |
| 4 Bedrooms | $925K | $975K | +5.4% |
| 5+ Bedrooms | $1.4M | $1.8M | +26.3% |
Summary: Florham Park housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.7%, 2 bedroom homes increased by 31.6%, 3 bedroom homes increased by 3.8%, 4 bedroom homes increased by 5.4%, and 5+ bedroom homes increased by 26.3%.
Median Sold Price Compared To Nearby Cities
| Livingston Township | $809K | $978.3K | +20.9% |
| Livingston | $809.5K | $978.3K | +20.9% |
| Florham Park | $789.9K | $905K | +14.6% |
| Chatham | $959.5K | $1.0M | +8.4% |
| Madison | $849K | $917.5K | +8.1% |
Housing Supply in Florham Park, NJ
How many homes are available in Florham Park, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 29 | 38 | +31.0% |
Summary: The Florham Park real estate market had 38 homes for sale in April 2024, a 31.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 6 | 6 | 0.0% |
| 3 Bedrooms | 7 | 13 | +85.7% |
| 4 Bedrooms | 6 | 7 | +16.7% |
| 5+ Bedrooms | 9 | 12 | +33.3% |
Summary: The Florham Park housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 85.7%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 7 | 5 | -28.6% |
Asking Price vs. Sold Price
2 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 Florham Park, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in Florham Park in April 2024, down by 28.6% month-over-month. Of the 5 sold homes, 40% were sold under asking, 0% were sold at asking, and 60% were sold over asking.
Days on Market for Florham Park, NJ
We’re sorry, we don't have information for this market at the moment
