Is Kinnelon, 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, Kinnelon was a Buyer's Market.
Key Takeaway
Kinnelon is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Kinnelon, NJ
How much do homes in Kinnelon, NJ cost?
Median Sold Price
$700,348
$272/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Kinnelon have sold for 2.7% less than they did a year ago.
Summary: The median home sold price in Kinnelon was $700,348 in April 2024, down 2.7% from last year, and the median price per square foot was $272.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $275K | - | N/A |
| 2 Bedrooms | $358K | $339.5K | -5.2% |
| 3 Bedrooms | $532.5K | $605K | +13.6% |
| 4 Bedrooms | $750K | $735K | -2.0% |
| 5+ Bedrooms | $1.2M | $1.1M | -10.6% |
Summary: Kinnelon 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 decreased by 5.2%, 3 bedroom homes increased by 13.6%, 4 bedroom homes decreased by 2%, and 5+ bedroom homes decreased by 10.6%.
Median Sold Price Compared To Nearby Cities
| Butler | $385K | $500K | +29.9% |
| West Milford Township | $358.8K | $407K | +13.4% |
| Riverdale | $375K | $420K | +12.0% |
| Kinnelon | $719.9K | $700.3K | -2.7% |
Housing Supply in Kinnelon, NJ
How many homes are available in Kinnelon, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 42 | 47 | +11.9% |
Summary: The Kinnelon real estate market had 47 homes for sale in April 2024, a 11.9% 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 | 4 | +100.0% |
| 3 Bedrooms | 9 | 9 | 0.0% |
| 4 Bedrooms | 15 | 19 | +26.7% |
| 5+ Bedrooms | 16 | 15 | -6.3% |
Summary: The Kinnelon 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 100%, 3 bedroom homes remained the same, 4 bedroom homes increased by 26.7%, and 5+ bedroom homes decreased by 6.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 8 | 9 | +12.5% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Kinnelon, you could pay more than the asking price. 44.4% of homes here sold above asking price last month.
Summary: A total of 9 homes were sold or pending in Kinnelon in April 2024, up by 12.5% month-over-month. Of the 9 sold homes, 33% were sold under asking, 22% were sold at asking, and 44% were sold over asking.
Days on Market for Kinnelon, NJ
We’re sorry, we don't have information for this market at the moment
