$10,000 Closing Credit*
$1,900,000
4,500 SqFt
6 Beds
•6 Full Baths, 1 Partial
Listing Office: LIFESTYLE INTERNATIONAL REALTY
Is Mendham Township, 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 Township was a Seller's Market.
Key Takeaway
Mendham Township 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 Township, NJ
How much do homes in Mendham Township, NJ cost?
Median Sold Price
$1,125,000
-
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$257,500(+29.7%)
Key Takeaway
Homes in Mendham Township have sold for 29.7% 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 | $600K | $727K | +21.2% |
| 4 Bedrooms | $855K | $1.2M | +40.4% |
| 5+ Bedrooms | $1.3M | $1.3M | -2.9% |
Summary: Mendham Township 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 21.2%, 4 bedroom homes increased by 40.4%, and 5+ bedroom homes decreased by 2.9%.
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% |
| Chester Township | $865K | $950K | +9.8% |
Housing Supply in Mendham Township, NJ
How many homes are available in Mendham Township, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 48 | 49 | +2.1% |
Summary: The Mendham Township real estate market had 49 homes for sale in November 2024, a 2.1% increase compared to 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 | 12 | 10 | -16.7% |
| 5+ Bedrooms | 27 | 30 | +11.1% |
Summary: The Mendham Township 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 16.7%, and 5+ bedroom homes increased by 11.1%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 7 | 7 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mendham Township, you could pay more than the asking price. 57.1% of homes here sold above asking price last month.
Summary: A total of 7 homes were sold or pending in Mendham Township in November 2024, the same as the previous month. Of the 7 sold homes, 29% were sold under asking, 14% were sold at asking, and 57% were sold over asking.
Days on Market for Mendham Township, NJ
We’re sorry, we don't have information for this market at the moment
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Monmouth/Ocean MLS Monmouth County Association Board of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright © 2024 Monmouth/Ocean MLS Monmouth County Association Board of Realtors. All Rights Reserved.