$10,000 Closing Credit*
$1,499,000
4,088 SqFt
5 Beds
•3 Full Baths, 2 Partial
Listing Office: NU HEIGHTS INVESTMENTS & MGMT
Is Mendham, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Mendham was a Seller's Market.
Key Takeaway
Mendham is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Mendham, NJ
How much do homes in Mendham, NJ cost?
Median Sold Price
$1,123,500
-
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$303,500(+37.0%)
Key Takeaway
Homes in Mendham have sold for 37% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $600K | N/A |
| 2 Bedrooms | $514K | $541K | +5.3% |
| 3 Bedrooms | $612.5K | $712.5K | +16.3% |
| 4 Bedrooms | $825K | $1.1M | +44.5% |
| 5+ Bedrooms | $1.4M | $1.3M | -5.9% |
Summary: Mendham housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 5.3%, 3 bedroom homes increased by 16.3%, 4 bedroom homes increased by 44.5%, and 5+ bedroom homes decreased by 5.9%.
Median Sold Price Compared To Nearby Cities
| Mendham | $820K | $1.1M | +37.0% |
| Mendham Township | $867.5K | $1.1M | +29.7% |
| Bernardsville | $827.5K | $999K | +20.7% |
Housing Supply in Mendham, NJ
How many homes are available in Mendham, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 37 | 37 | 0.0% |
Summary: The Mendham real estate market had 37 homes for sale in November 2024, the same as October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 1 | +100.0% |
| 3 Bedrooms | 9 | 8 | -11.1% |
| 4 Bedrooms | 9 | 7 | -22.2% |
| 5+ Bedrooms | 19 | 21 | +10.5% |
Summary: The Mendham housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes decreased by 11.1%, 4 bedroom homes decreased by 22.2%, and 5+ bedroom homes increased by 10.5%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 7 | 6 | -14.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mendham, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 6 homes were sold or pending in Mendham in November 2024, down by 14.3% month-over-month. Of the 6 sold homes, 33% were sold under asking, 17% were sold at asking, and 50% were sold over asking.
Days on Market for Mendham, NJ
We’re sorry, we don't have information for this market at the moment
Disclaimer: The data relating to the real estate for sale on this web site comes in part from the Internet Data Exchange Program of the NJMLS. Real estate listings held by brokerage firms other than Rocket Homes Real Estate, LLC are marked with the Internet Data Exchange logo and information about them includes the name of the listing brokers. Some properties listed with the participating brokers do not appear on this website at the request of the seller. Listings of brokers that do not participate in Internet Data Exchange do not appear on this website.