Is Millburn Township, 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, Millburn Township has remained a Seller's Market.
Key Takeaway
Millburn Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Millburn Township, NJ
How much do homes in Millburn Township, NJ cost?
Median Sold Price
$1,725,000
-
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Millburn Township have sold for 15% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $310K | $306K | -1.3% |
| 2 Bedrooms | $462.5K | $423.7K | -8.4% |
| 3 Bedrooms | $930K | $1.1M | +19.9% |
| 4 Bedrooms | $1.3M | $1.6M | +19.2% |
| 5+ Bedrooms | $2.1M | $2.2M | +8.8% |
Summary: Millburn Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.3%, 2 bedroom homes decreased by 8.4%, 3 bedroom homes increased by 19.9%, 4 bedroom homes increased by 19.2%, and 5+ bedroom homes increased by 8.8%.
Median Sold Price Compared To Nearby Cities
| Millburn Township | $1.5M | $1.7M | +15.0% |
| Springfield Township | $545K | $615K | +12.8% |
| Summit | $1.1M | $1.2M | +11.4% |
| Millburn | $999.9K | $1.1M | +10.0% |
| Short Hills | $1.8M | $1.9M | +8.0% |
Housing Supply in Millburn Township, NJ
How many homes are available in Millburn Township, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 81 | 98 | +21.0% |
Summary: The Millburn Township real estate market had 98 homes for sale in April 2024, a 21.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 3 | +200.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 12 | 12 | 0.0% |
| 4 Bedrooms | 23 | 28 | +21.7% |
| 5+ Bedrooms | 45 | 55 | +22.2% |
Summary: The Millburn Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 21.7%, and 5+ bedroom homes increased by 22.2%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 16 | 21 | +31.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
17 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Millburn Township, you could pay more than the asking price. 81% of homes here sold above asking price last month.
Summary: A total of 21 homes were sold or pending in Millburn Township in April 2024, up by 31.3% month-over-month. Of the 21 sold homes, 14% were sold under asking, 5% were sold at asking, and 81% were sold over asking.
Days on Market for Millburn Township, NJ
We’re sorry, we don't have information for this market at the moment
