Is Parsippany, 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, Parsippany was a Seller's Market.
Housing Prices in Parsippany, NJ
How much do homes in Parsippany, NJ cost?
Median Sold Price
$628,000
$371/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Parsippany was $628,000 in April 2024, up 5.5% from last year, and the median price per square foot was $371.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $191K | $220K | +15.2% |
2 Bedrooms | $375.8K | $475K | +26.4% |
3 Bedrooms | $526.1K | $568K | +8.0% |
4 Bedrooms | $639K | $676K | +5.8% |
5+ Bedrooms | $766K | $761K | -0.7% |
Summary: Parsippany housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.2%, 2 bedroom homes increased by 26.4%, 3 bedroom homes increased by 8%, 4 bedroom homes increased by 5.8%, and 5+ bedroom homes decreased by 0.7%.
Median Sold Price Compared To Nearby Cities
Parsippany-Troy Hills Township | $540K | $585K | +8.3% |
Lake Hiawatha | $400K | $425K | +6.3% |
Parsippany | $595K | $628K | +5.5% |
Montville Township | $707.5K | $739.5K | +4.5% |
Housing Supply in Parsippany, NJ
How many homes are available in Parsippany, NJ?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
32 | 49 | +53.1% |
Summary: The Parsippany real estate market had 49 homes for sale in April 2024, a 53.1% 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 | 3 | 6 | +100.0% |
3 Bedrooms | 10 | 18 | +80.0% |
4 Bedrooms | 12 | 16 | +33.3% |
5+ Bedrooms | 7 | 9 | +28.6% |
Summary: The Parsippany 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 increased by 80%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 28.6%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
11 | 8 | -27.3% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 8 homes were sold or pending in Parsippany in April 2024, down by 27.3% month-over-month. Of the 8 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Parsippany, NJ
We’re sorry, we don't have information for this market at the moment