$10,000 Closing Credit*
$1,100,000
4 Beds
•2 Full Baths, 1 Partial
Listing Office: KELLER WILLIAMS REALTY
Is Millburn Township, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Millburn Township has remained a Seller's Market.
Key Takeaway
Millburn Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Millburn Township, NJ
How much do homes in Millburn Township, NJ cost?
Median Sold Price
$1,764,000
$658/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$64,000(+3.8%)
Key Takeaway
Homes in Millburn Township have sold for 3.8% more than they did a year ago.
Summary: The median home sold price in Millburn Township was $1,764,000 in November 2024, up 3.8% from last year, and the median price per square foot was $658.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $303K | $347.5K | +14.7% |
| 2 Bedrooms | $423.7K | $430.5K | +1.6% |
| 3 Bedrooms | $1.0M | $1.1M | +4.8% |
| 4 Bedrooms | $1.5M | $1.6M | +3.3% |
| 5+ Bedrooms | $2.2M | $2.5M | +13.8% |
Summary: Millburn Township housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.7%, 2 bedroom homes increased by 1.6%, 3 bedroom homes increased by 4.8%, 4 bedroom homes increased by 3.3%, and 5+ bedroom homes increased by 13.8%.
Median Sold Price Compared To Nearby Cities
| Springfield Township | $562.5K | $672.5K | +19.6% |
| Short Hills | $1.9M | $2.1M | +13.1% |
| Summit | $1.1M | $1.2M | +12.2% |
| Millburn | $1.1M | $1.1M | +5.9% |
| Millburn Township | $1.7M | $1.7M | +3.8% |
Housing Supply in Millburn Township, NJ
How many homes are available in Millburn Township, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 67 | 62 | -7.5% |
Summary: The Millburn Township real estate market had 62 homes for sale in November 2024, a 7.5% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 3 | 4 | +33.3% |
| 3 Bedrooms | 7 | 7 | 0.0% |
| 4 Bedrooms | 17 | 15 | -11.8% |
| 5+ Bedrooms | 39 | 35 | -10.3% |
Summary: The Millburn 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 33.3%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 11.8%, and 5+ bedroom homes decreased by 10.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 13 | 15 | +15.4% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Millburn Township, you may be able to get a good deal. 46.7% of homes here sold below asking price last month.
Summary: A total of 15 homes were sold or pending in Millburn Township in November 2024, up by 15.4% month-over-month. Of the 15 sold homes, 47% were sold under asking, 13% were sold at asking, and 40% 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
