$7,719 Closing Credit*
$650,000
4 Beds
•1 Full Bath, 1 Partial
Listing Office: WEICHERT REALTORS
Is Berkeley Heights, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Berkeley Heights has remained a Seller's Market.
Key Takeaway
Berkeley Heights is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Berkeley Heights, NJ
How much do homes in Berkeley Heights, NJ cost?
Median Sold Price
$817,500
$328/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$90,500(+12.4%)
Key Takeaway
Homes in Berkeley Heights have sold for 12.4% more than they did a year ago.
Summary: The median home sold price in Berkeley Heights was $817,500 in November 2024, up 12.4% from last year, and the median price per square foot was $328.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $217.5K | $310K | +42.5% |
| 2 Bedrooms | $440K | $476.5K | +8.3% |
| 3 Bedrooms | $583K | $733.7K | +25.9% |
| 4 Bedrooms | $775K | $960K | +23.9% |
| 5+ Bedrooms | $960K | $1.0M | +12.9% |
Summary: Berkeley Heights housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 42.5%, 2 bedroom homes increased by 8.3%, 3 bedroom homes increased by 25.9%, 4 bedroom homes increased by 23.9%, and 5+ bedroom homes increased by 12.9%.
Median Sold Price Compared To Nearby Cities
| Berkeley Heights Township | $729K | $831.5K | +14.1% |
| New Providence | $797K | $899.5K | +12.9% |
| Berkeley Heights | $727K | $817.5K | +12.4% |
| Gillette | $600K | $635K | +5.8% |
| Watchung | $932.7K | $982.5K | +5.3% |
Housing Supply in Berkeley Heights, NJ
How many homes are available in Berkeley Heights, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 28 | 23 | -17.9% |
Summary: The Berkeley Heights real estate market had 23 homes for sale in November 2024, a 17.9% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 5 | 1 | -80.0% |
| 3 Bedrooms | 6 | 6 | 0.0% |
| 4 Bedrooms | 13 | 12 | -7.7% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Berkeley Heights housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 80%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 7.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 13 | 6 | -53.8% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Berkeley Heights, you could pay more than the asking price. 83.3% of homes here sold above asking price last month.
Summary: A total of 6 homes were sold or pending in Berkeley Heights in November 2024, down by 53.8% month-over-month. Of the 6 sold homes, 0% were sold under asking, 17% were sold at asking, and 83% were sold over asking.
Days on Market for Berkeley Heights, NJ
How long does it take to sell a home in Berkeley Heights, NJ?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 33 Days | 8 Days | -75.8% |
Summary: Homes in Berkeley Heights had an average of 8 days on market in Nov 2024, down by 75.8% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Berkeley Heights are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 6 homes were sold in Berkeley Heights; 17% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
