$189,000
1.30 Acres
Land
Listing Office: WEICHERT REALTORS
Is Hillsborough, 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, Hillsborough has remained a Seller's Market.
Key Takeaway
Hillsborough is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Hillsborough, NJ
How much do homes in Hillsborough, NJ cost?
Median Sold Price
$573,666
$306/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$56,166(+10.9%)
Key Takeaway
Homes in Hillsborough have sold for 10.9% more than they did a year ago.
Summary: The median home sold price in Hillsborough was $573,666 in October 2024, up 10.9% from last year, and the median price per square foot was $306.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $225.5K | $256K | +13.5% |
| 2 Bedrooms | $379K | $411K | +8.4% |
| 3 Bedrooms | $515K | $532.5K | +3.4% |
| 4 Bedrooms | $750K | $820.5K | +9.4% |
| 5+ Bedrooms | $817.5K | $1.0M | +29.7% |
Summary: Hillsborough housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.5%, 2 bedroom homes increased by 8.4%, 3 bedroom homes increased by 3.4%, 4 bedroom homes increased by 9.4%, and 5+ bedroom homes increased by 29.7%.
Median Sold Price Compared To Nearby Cities
| Hillsborough | $517.5K | $573.6K | +10.9% |
| Hillsborough Township | $516.2K | $570.7K | +10.5% |
Housing Supply in Hillsborough, NJ
How many homes are available in Hillsborough, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 136 | 150 | +10.3% |
Summary: The Hillsborough real estate market had 150 homes for sale in October 2024, a 10.3% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 9 | +80.0% |
| 2 Bedrooms | 32 | 44 | +37.5% |
| 3 Bedrooms | 29 | 34 | +17.2% |
| 4 Bedrooms | 50 | 45 | -10.0% |
| 5+ Bedrooms | 20 | 18 | -10.0% |
Summary: The Hillsborough housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 80%, 2 bedroom homes increased by 37.5%, 3 bedroom homes increased by 17.2%, 4 bedroom homes decreased by 10%, and 5+ bedroom homes decreased by 10%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 36 | 37 | +2.8% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
25 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Hillsborough, you could pay more than the asking price. 67.6% of homes here sold above asking price last month.
Summary: A total of 37 homes were sold or pending in Hillsborough in October 2024, up by 2.8% month-over-month. Of the 37 sold homes, 27% were sold under asking, 5% were sold at asking, and 68% were sold over asking.
Days on Market for Hillsborough, NJ
How long does it take to sell a home in Hillsborough, NJ?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 32 Days | 44 Days | +36.5% |
Summary: Homes in Hillsborough had an average of 44 days on market in Oct 2024, up by 36.5% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Hillsborough has remained consistent over time.
Summary: During October 2024, 37 homes were sold in Hillsborough; 5% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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