$8,301 Closing Credit*
$699,000
2 Beds
•2 Full Baths
Listing Office: RE/MAX HOUSE VALUES
Is Hopatcong, 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, Hopatcong has remained a Seller's Market.
Key Takeaway
Hopatcong is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Hopatcong, NJ
How much do homes in Hopatcong, NJ cost?
Median Sold Price
$400,000
$269/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$32,350(+8.8%)
Key Takeaway
Homes in Hopatcong have sold for 8.8% more than they did a year ago.
Summary: The median home sold price in Hopatcong was $400,000 in October 2024, up 8.8% from last year, and the median price per square foot was $269.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $197.5K | $200K | +1.3% |
| 2 Bedrooms | $275K | $317.5K | +15.5% |
| 3 Bedrooms | $380K | $407.5K | +7.2% |
| 4 Bedrooms | $432.5K | $475K | +9.8% |
| 5+ Bedrooms | $539K | $530K | -1.7% |
Summary: Hopatcong housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.3%, 2 bedroom homes increased by 15.5%, 3 bedroom homes increased by 7.2%, 4 bedroom homes increased by 9.8%, and 5+ bedroom homes decreased by 1.7%.
Median Sold Price Compared To Nearby Cities
| Landing | $420.5K | $470K | +11.8% |
| Byram Township | $440K | $481.5K | +9.4% |
| Hopatcong | $367.6K | $400K | +8.8% |
| Lake Hopatcong | $440K | $461.2K | +4.8% |
| Mount Arlington | $435K | $450K | +3.4% |
Housing Supply in Hopatcong, NJ
How many homes are available in Hopatcong, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 96 | 95 | -1.0% |
Summary: The Hopatcong real estate market had 95 homes for sale in October 2024, a 1.0% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 5 | +25.0% |
| 2 Bedrooms | 23 | 24 | +4.3% |
| 3 Bedrooms | 44 | 39 | -11.4% |
| 4 Bedrooms | 19 | 21 | +10.5% |
| 5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The Hopatcong housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 4.3%, 3 bedroom homes decreased by 11.4%, 4 bedroom homes increased by 10.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 24 | 24 | 0.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Hopatcong, you could pay more than the asking price. 62.5% of homes here sold above asking price last month.
Summary: A total of 24 homes were sold or pending in Hopatcong in October 2024, the same as the previous month. Of the 24 sold homes, 13% were sold under asking, 25% were sold at asking, and 63% were sold over asking.
Days on Market for Hopatcong, NJ
How long does it take to sell a home in Hopatcong, NJ?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 16 Days | 51 Days | +218.8% |
Summary: Homes in Hopatcong had an average of 51 days on market in Oct 2024, up by 218.8% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Hopatcong has remained consistent over time.
Summary: During October 2024, 24 homes were sold in Hopatcong; 0% of homes were sold within 30 days, 4% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
