$10,000 Closing Credit*
$2,399,000
6 Beds
•4 Full Baths
Kelly H. Ju, Listing Office: Realmart Realty, LLC
Is Millburn, 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, 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
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $306K | $327K | +6.9% |
| 2 Bedrooms | $423.7K | $401K | -5.4% |
| 3 Bedrooms | $915K | $1.0M | +16.4% |
| 4 Bedrooms | $1.2M | $1.3M | +6.6% |
| 5+ Bedrooms | $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 | $815K | $945K | +16.0% |
| Millburn | $1.1M | $1.2M | +15.3% |
| Short Hills | $1.9M | $2.1M | +10.2% |
| Millburn Township | $1.6M | $1.7M | +5.6% |
Housing Supply in Millburn, NJ
How many homes are available in Millburn, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 24 | 26 | +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
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 3 | 4 | +33.3% |
| 3 Bedrooms | 5 | 5 | 0.0% |
| 4 Bedrooms | 8 | 7 | -12.5% |
| 5+ Bedrooms | 7 | 9 | +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 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 5 | 7 | +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
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
