Is Hopatcong, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Hopatcong was a Seller's Market.
Housing Prices in Hopatcong, NJ
How much do homes in Hopatcong, NJ cost?
Median Sold Price
$385,000
$387/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Hopatcong was $385,000 in May 2024, up 12% from last year, and the median price per square foot was $387.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $167.5K | $230K | +37.3% |
2 Bedrooms | $270K | $300K | +11.1% |
3 Bedrooms | $370K | $388K | +4.9% |
4 Bedrooms | $430K | $450K | +4.7% |
5+ Bedrooms | $592.5K | $480K | -19.0% |
Summary: Hopatcong housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 37.3%, 2 bedroom homes increased by 11.1%, 3 bedroom homes increased by 4.9%, 4 bedroom homes increased by 4.7%, and 5+ bedroom homes decreased by 19%.
Median Sold Price Compared To Nearby Cities
Mount Arlington | $385K | $447K | +16.1% |
Hopatcong | $343.7K | $385K | +12.0% |
Landing | $406K | $445K | +9.6% |
Byram Township | $414.5K | $447K | +7.8% |
Lake Hopatcong | $460K | $450K | -2.2% |
Housing Supply in Hopatcong, NJ
How many homes are available in Hopatcong, NJ?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
89 | 95 | +6.7% |
Summary: The Hopatcong real estate market had 95 homes for sale in May 2024, a 6.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 3 | -25.0% |
2 Bedrooms | 25 | 25 | 0.0% |
3 Bedrooms | 37 | 43 | +16.2% |
4 Bedrooms | 20 | 20 | 0.0% |
5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The Hopatcong housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes remained the same, 3 bedroom homes increased by 16.2%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
22 | 15 | -31.8% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Summary: A total of 15 homes were sold or pending in Hopatcong in May 2024, down by 31.8% month-over-month. Of the 15 sold homes, 13% were sold under asking, 13% were sold at asking, and 73% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
6 Days | 8 Days | +33.3% |
Summary: Homes in Hopatcong had an average of 8 days on market in May 2024, up by 33.3% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 15 homes were sold in Hopatcong; 7% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.