$7,481 Closing Credit*
$630,000
3 Beds
•3 Full Baths, 1 Partial
Youngjoo Sung, Listing Office: RE/MAX Now
Is Budd Lake, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Budd Lake has remained a Seller's Market.
Key Takeaway
Budd Lake is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Budd Lake, NJ
How much do homes in Budd Lake, NJ cost?
Median Sold Price
$480,000
$226/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$10,000(-2.0%)
Key Takeaway
Homes in Budd Lake have sold for 2% less than they did a year ago.
Summary: The median home sold price in Budd Lake was $480,000 in October 2024, down 2% from last year, and the median price per square foot was $226.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $249K | - | N/A |
| 2 Bedrooms | $335K | $320K | -4.5% |
| 3 Bedrooms | $385K | $471.5K | +22.5% |
| 4 Bedrooms | $600K | $610K | +1.7% |
| 5+ Bedrooms | $550K | $837.5K | +52.3% |
Summary: Budd Lake housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 4.5%, 3 bedroom homes increased by 22.5%, 4 bedroom homes increased by 1.7%, and 5+ bedroom homes increased by 52.3%.
Median Sold Price Compared To Nearby Cities
| Allamuchy Township | $386.2K | $487.2K | +26.1% |
| Stanhope | $345K | $400K | +15.9% |
| Mount Olive Township | $510K | $560K | +9.8% |
| Budd Lake | $490K | $480K | -2.0% |
Housing Supply in Budd Lake, NJ
How many homes are available in Budd Lake, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 33 | 33 | 0.0% |
Summary: The Budd Lake real estate market had 33 homes for sale in October 2024, the same as September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 4 | 0.0% |
| 3 Bedrooms | 12 | 13 | +8.3% |
| 4 Bedrooms | 15 | 13 | -13.3% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Budd Lake 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 remained the same, 3 bedroom homes increased by 8.3%, 4 bedroom homes decreased by 13.3%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 10 | 12 | +20.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Budd Lake, you could pay more than the asking price. 75% of homes here sold above asking price last month.
Summary: A total of 12 homes were sold or pending in Budd Lake in October 2024, up by 20.0% month-over-month. Of the 12 sold homes, 17% were sold under asking, 8% were sold at asking, and 75% were sold over asking.
Days on Market for Budd Lake, NJ
We’re sorry, we don't have information for this market at the moment
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