Is Millburn, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Millburn is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, Millburn has remained a Seller's Market.

Key Takeaway

Millburn is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Millburn, NJ

How much do homes in Millburn, NJ cost?

Median Sold Price

$1,274,000

-

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$169,000(+15.3%)

Key Takeaway

Homes in Millburn have sold for 15.3% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $306K$327K
+6.9%
2 $423.7K$401K
-5.4%
3 $915K$1.0M
+16.4%
4 $1.2M$1.3M
+6.6%
5+ $1.8M$1.7M
-4.9%

Summary: Millburn housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.9%, 2 bedroom homes decreased by 5.4%, 3 bedroom homes increased by 16.4%, 4 bedroom homes increased by 6.6%, and 5+ bedroom homes decreased by 4.9%.

Median Sold Price Compared To Nearby Cities

Maplewood
+16.0%
Millburn
+15.3%
Short Hills
+10.2%
Millburn Township
+5.6%

Housing Supply in Millburn, NJ

How many homes are available in Millburn, NJ?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
2426+8.3%

Summary: The Millburn real estate market had 26 homes for sale in October 2024, a 8.3% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 34
+33.3%
3 55
0.0%
4 87
-12.5%
5+ 79
+28.6%

Summary: The Millburn housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 33.3%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 12.5%, and 5+ bedroom homes increased by 28.6%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
57+40.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Millburn, 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 Millburn in October 2024, up by 40.0% month-over-month. Of the 7 sold homes, 43% were sold under asking, 0% were sold at asking, and 57% were sold over asking.

Days on Market for Millburn, NJ

We’re sorry, we don't have information for this market at the moment

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 4 Days Ago

Newest Listings in Millburn, NJ

Nearby Markets to Millburn, NJ

What housing markets are near Millburn, NJ?