$970 Closing Credit*
$81,714
664 SqFt
1 Bed
•1 Full Bath
Listing Office: COLDWELL BANKER REALTY
Is Chatham, 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, Chatham has remained a Seller's Market.
Key Takeaway
Chatham is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Chatham, NJ
How much do homes in Chatham, NJ cost?
Median Sold Price
$1,110,900
$359/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$111,000(+11.1%)
Key Takeaway
Homes in Chatham have sold for 11.1% more than they did a year ago.
Summary: The median home sold price in Chatham was $1,110,900 in November 2024, up 11.1% from last year, and the median price per square foot was $359.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $382.2K | $426.5K | +11.6% |
| 2 Bedrooms | $517.5K | $530K | +2.4% |
| 3 Bedrooms | $800K | $900K | +12.5% |
| 4 Bedrooms | $1.2M | $1.4M | +16.6% |
| 5+ Bedrooms | $2.0M | $2.1M | +5.2% |
Summary: Chatham housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.6%, 2 bedroom homes increased by 2.4%, 3 bedroom homes increased by 12.5%, 4 bedroom homes increased by 16.6%, and 5+ bedroom homes increased by 5.2%.
Median Sold Price Compared To Nearby Cities
| Summit | $1.1M | $1.2M | +12.2% |
| Chatham | $999.9K | $1.1M | +11.1% |
| Chatham Township | $1.0M | $1.1M | +10.7% |
| Florham Park | $900K | $955K | +6.1% |
| Madison | $900K | $946K | +5.1% |
Housing Supply in Chatham, NJ
How many homes are available in Chatham, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 62 | 56 | -9.7% |
Summary: The Chatham real estate market had 56 homes for sale in November 2024, a 9.7% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 2 | -33.3% |
| 2 Bedrooms | 7 | 5 | -28.6% |
| 3 Bedrooms | 10 | 7 | -30.0% |
| 4 Bedrooms | 16 | 16 | 0.0% |
| 5+ Bedrooms | 26 | 26 | 0.0% |
Summary: The Chatham housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes decreased by 28.6%, 3 bedroom homes decreased by 30%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 15 | 12 | -20.0% |
Asking Price vs. Sold Price
6 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 Chatham, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 12 homes were sold or pending in Chatham in November 2024, down by 20.0% month-over-month. Of the 12 sold homes, 50% were sold under asking, 8% were sold at asking, and 42% were sold over asking.
Days on Market for Chatham, NJ
We’re sorry, we don't have information for this market at the moment
