Is Denville, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Denville has remained a Seller's Market.
Housing Prices in Denville, NJ
How much do homes in Denville, NJ cost?
Median Sold Price
$555,000
$288/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Denville was $555,000 in May 2024, up 2.1% from last year, and the median price per square foot was $288.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $280K | $248.7K | -11.2% |
2 Bedrooms | $385K | $450.7K | +17.1% |
3 Bedrooms | $480K | $550K | +14.6% |
4 Bedrooms | $652.5K | $655K | 0.4% |
5+ Bedrooms | $783.5K | $1.2M | +62.8% |
Summary: Denville housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 11.2%, 2 bedroom homes increased by 17.1%, 3 bedroom homes increased by 14.6%, 4 bedroom homes increased by 0.4%, and 5+ bedroom homes increased by 62.8%.
Median Sold Price Compared To Nearby Cities
Rockaway | $435K | $491.7K | +13.0% |
Denville Township | $537K | $555K | +3.4% |
Denville | $543.3K | $555K | +2.1% |
Mountain Lakes | $920K | $921.5K | 0.2% |
Housing Supply in Denville, NJ
How many homes are available in Denville, NJ?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
59 | 69 | +16.9% |
Summary: The Denville real estate market had 69 homes for sale in May 2024, a 16.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 1 | -50.0% |
2 Bedrooms | 13 | 14 | +7.7% |
3 Bedrooms | 22 | 24 | +9.1% |
4 Bedrooms | 17 | 21 | +23.5% |
5+ Bedrooms | 5 | 9 | +80.0% |
Summary: The Denville housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 7.7%, 3 bedroom homes increased by 9.1%, 4 bedroom homes increased by 23.5%, and 5+ bedroom homes increased by 80%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
13 | 13 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Summary: A total of 13 homes were sold or pending in Denville in May 2024, the same as the previous month. Of the 13 sold homes, 15% were sold under asking, 0% were sold at asking, and 85% were sold over asking.
Days on Market for Denville, NJ
We’re sorry, we don't have information for this market at the moment