Listing Office: CORCORAN SAWYER SMITH
Is Bernardsville, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Bernardsville was a Neutral Market.
Key Takeaway
Bernardsville is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Bernardsville, NJ
How much do homes in Bernardsville, NJ cost?
Median Sold Price
$998,500
$428/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$163,500(+19.6%)
Key Takeaway
Homes in Bernardsville have sold for 19.6% more than they did a year ago.
Summary: The median home sold price in Bernardsville was $998,500 in October 2024, up 19.6% from last year, and the median price per square foot was $428.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $247K | $253K | +2.4% |
| 2 Bedrooms | $510K | $437.5K | -14.2% |
| 3 Bedrooms | $653.5K | $691K | +5.7% |
| 4 Bedrooms | $999K | $998.5K | -0.1% |
| 5+ Bedrooms | $1.7M | $1.6M | -4.2% |
Summary: Bernardsville housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.4%, 2 bedroom homes decreased by 14.2%, 3 bedroom homes increased by 5.7%, 4 bedroom homes decreased by 0.1%, and 5+ bedroom homes decreased by 4.2%.
Median Sold Price Compared To Nearby Cities
| Harding Township | $1.1M | $1.7M | +50.0% |
| Mendham | $825K | $1.1M | +36.2% |
| Mendham Township | $880K | $1.1M | +27.7% |
| Peapack and Gladstone | $875K | $1.1M | +27.4% |
| Bernardsville | $835K | $998.5K | +19.6% |
Housing Supply in Bernardsville, NJ
How many homes are available in Bernardsville, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 41 | 53 | +29.3% |
Summary: The Bernardsville real estate market had 53 homes for sale in October 2024, a 29.3% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 6 | +20.0% |
| 3 Bedrooms | 4 | 10 | +150.0% |
| 4 Bedrooms | 10 | 10 | 0.0% |
| 5+ Bedrooms | 22 | 27 | +22.7% |
Summary: The Bernardsville housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 150%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 22.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 7 | 6 | -14.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Bernardsville, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 6 homes were sold or pending in Bernardsville in October 2024, down by 14.3% month-over-month. Of the 6 sold homes, 17% were sold under asking, 17% were sold at asking, and 67% were sold over asking.
Days on Market for Bernardsville, NJ
We’re sorry, we don't have information for this market at the moment
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