$2,650,000
5 Beds
•4 Full Baths, 1 Partial
Anthony J. Verducci Jr., Listing Office: Serhant New Jersey LLC
Is Millburn Township, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Millburn Township was a Seller's Market.
Key Takeaway
Millburn 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 Millburn Township, NJ
How much do homes in Millburn Township, NJ cost?
Median Sold Price
$1,768,000
$658/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$93,000(+5.6%)
Key Takeaway
Homes in Millburn Township have sold for 5.6% more than they did a year ago.
Summary: The median home sold price in Millburn Township was $1,768,000 in October 2024, up 5.6% from last year, and the median price per square foot was $658.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $306K | $327K | +6.9% |
| 2 Bedrooms | $425K | $401K | -5.6% |
| 3 Bedrooms | $1.0M | $1.1M | +5.8% |
| 4 Bedrooms | $1.5M | $1.6M | +5.2% |
| 5+ Bedrooms | $2.1M | $2.5M | +14.7% |
Summary: Millburn Township 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 5.6%, 3 bedroom homes increased by 5.8%, 4 bedroom homes increased by 5.2%, and 5+ bedroom homes increased by 14.7%.
Median Sold Price Compared To Nearby Cities
| Springfield Township | $550K | $656.2K | +19.3% |
| Millburn | $1.1M | $1.2M | +15.3% |
| Summit | $1.1M | $1.2M | +12.2% |
| Short Hills | $1.9M | $2.1M | +10.2% |
| Millburn Township | $1.6M | $1.7M | +5.6% |
Housing Supply in Millburn Township, NJ
How many homes are available in Millburn Township, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 74 | 72 | -2.7% |
Summary: The Millburn Township real estate market had 72 homes for sale in October 2024, a 2.7% decrease 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 | 10 | 8 | -20.0% |
| 4 Bedrooms | 16 | 17 | +6.3% |
| 5+ Bedrooms | 44 | 42 | -4.5% |
Summary: The Millburn Township 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 decreased by 20%, 4 bedroom homes increased by 6.3%, and 5+ bedroom homes decreased by 4.5%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 15 | 12 | -20.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Millburn Township, you could pay more than the asking price. 58.3% of homes here sold above asking price last month.
Summary: A total of 12 homes were sold or pending in Millburn Township in October 2024, down by 20.0% month-over-month. Of the 12 sold homes, 42% were sold under asking, 0% were sold at asking, and 58% were sold over asking.
Days on Market for Millburn Township, NJ
We’re sorry, we don't have information for this market at the moment
