Is West Milford, 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, West Milford was a Neutral Market.
Key Takeaway
West Milford is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in West Milford, NJ
How much do homes in West Milford, NJ cost?
Median Sold Price
$398,957
$250/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in West Milford have sold for 19.1% more than they did a year ago.
Summary: The median home sold price in West Milford was $398,957 in April 2024, up 19.1% from last year, and the median price per square foot was $250.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $185K | $260K | +40.5% |
| 2 Bedrooms | $275K | $310K | +12.7% |
| 3 Bedrooms | $420K | $424.5K | +1.1% |
| 4 Bedrooms | $505K | $578.9K | +14.6% |
| 5+ Bedrooms | $645K | $662K | +2.6% |
Summary: West Milford housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 40.5%, 2 bedroom homes increased by 12.7%, 3 bedroom homes increased by 1.1%, 4 bedroom homes increased by 14.6%, and 5+ bedroom homes increased by 2.6%.
Median Sold Price Compared To Nearby Cities
| West Milford | $335K | $398.9K | +19.1% |
| West Milford Township | $358.8K | $407K | +13.4% |
| Hewitt | $366K | $397K | +8.5% |
Housing Supply in West Milford, NJ
How many homes are available in West Milford, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 49 | 71 | +44.9% |
Summary: The West Milford real estate market had 71 homes for sale in April 2024, a 44.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 17 | 23 | +35.3% |
| 3 Bedrooms | 15 | 27 | +80.0% |
| 4 Bedrooms | 12 | 16 | +33.3% |
| 5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The West Milford housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 35.3%, 3 bedroom homes increased by 80%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 8 | 13 | +62.5% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in West Milford, you could pay more than the asking price. 61.5% of homes here sold above asking price last month.
Summary: A total of 13 homes were sold or pending in West Milford in April 2024, up by 62.5% month-over-month. Of the 13 sold homes, 38% were sold under asking, 0% were sold at asking, and 62% were sold over asking.
Days on Market for West Milford, NJ
We’re sorry, we don't have information for this market at the moment
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