Is Oakland, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Oakland was a Seller's Market.
Key Takeaway
Oakland is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Oakland, NJ
How much do homes in Oakland, NJ cost?
Median Sold Price
$617,500
-
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
The sold price of homes in Oakland has remained the same since last year.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $166K | $290K | +74.7% |
| 2 Bedrooms | $407.4K | $480K | +17.8% |
| 3 Bedrooms | $620K | $598K | -3.5% |
| 4 Bedrooms | $652K | $687.4K | +5.4% |
| 5+ Bedrooms | $705K | $904.9K | +28.4% |
Summary: Oakland housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 74.7%, 2 bedroom homes increased by 17.8%, 3 bedroom homes decreased by 3.5%, 4 bedroom homes increased by 5.4%, and 5+ bedroom homes increased by 28.4%.
Median Sold Price Compared To Nearby Cities
| Mahwah Township | $540K | $640K | +18.5% |
| Pompton Lakes | $420K | $475K | +13.1% |
| Wanaque | $420K | $450.5K | +7.3% |
| Oakland | $620K | $617.5K | -0.4% |
Housing Supply in Oakland, NJ
How many homes are available in Oakland, NJ?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 26 | 44 | +69.2% |
Summary: The Oakland real estate market had 44 homes for sale in May 2024, a 69.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 5 | +150.0% |
| 3 Bedrooms | 14 | 20 | +42.9% |
| 4 Bedrooms | 7 | 12 | +71.4% |
| 5+ Bedrooms | 3 | 7 | +133.3% |
Summary: The Oakland housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 150%, 3 bedroom homes increased by 42.9%, 4 bedroom homes increased by 71.4%, and 5+ bedroom homes increased by 133.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 3 | 2 | -33.3% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Oakland, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 2 homes were sold or pending in Oakland in May 2024, down by 33.3% month-over-month. Of the 2 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Oakland, NJ
We’re sorry, we don't have information for this market at the moment
