Is Chatham Township, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Chatham Township is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, Chatham Township has remained a Seller's Market.

Key Takeaway

Chatham Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Chatham Township, NJ

How much do homes in Chatham Township, NJ cost?

Median Sold Price

$1,100,000

$359/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$60,000(+5.8%)

Key Takeaway

Homes in Chatham Township have sold for 5.8% more than they did a year ago.

Summary: The median home sold price in Chatham Township was $1,100,000 in October 2024, up 5.8% from last year, and the median price per square foot was $359.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $381.1K$422.5K
+10.9%
2 $510K$519.7K
+1.9%
3 $794.5K$899.9K
+13.3%
4 $1.2M$1.3M
+8.5%
5+ $2.0M$2.1M
+6.2%

Summary: Chatham Township housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.9%, 2 bedroom homes increased by 1.9%, 3 bedroom homes increased by 13.3%, 4 bedroom homes increased by 8.5%, and 5+ bedroom homes increased by 6.2%.

Median Sold Price Compared To Nearby Cities

New Providence
+10.1%
Chatham Township
+5.8%
Madison
+5.0%
Chatham
+4.9%

Housing Supply in Chatham Township, NJ

How many homes are available in Chatham Township, NJ?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
5967+13.6%

Summary: The Chatham Township real estate market had 67 homes for sale in October 2024, a 13.6% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 23
+50.0%
2 77
0.0%
3 1514
-6.7%
4 1717
0.0%
5+ 1826
+44.4%

Summary: The Chatham Township housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 6.7%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 44.4%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1314+7.7%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

4 Homes Were Sold
At Asking

9 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Chatham Township, you could pay more than the asking price. 64.3% of homes here sold above asking price last month.

Summary: A total of 14 homes were sold or pending in Chatham Township in October 2024, up by 7.7% month-over-month. Of the 14 sold homes, 7% were sold under asking, 29% were sold at asking, and 64% were sold over asking.

Days on Market for Chatham Township, NJ

We’re sorry, we don't have information for this market at the moment

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 16 Days Ago

Newest Listings in Chatham Township, NJ

Nearby Markets to Chatham Township, NJ

What housing markets are near Chatham Township, NJ?