$4,572 Closing Credit*
$385,000
1 Bed
•1 Full Bath
Listing Office: GERVIN MANAGEMENT & REALTY LLC
Is Montville 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, Montville Township was a Seller's Market.
Key Takeaway
Montville 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 Montville Township, NJ
How much do homes in Montville Township, NJ cost?
Median Sold Price
$821,000
$304/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$126,500(+18.2%)
Key Takeaway
Homes in Montville Township have sold for 18.2% more than they did a year ago.
Summary: The median home sold price in Montville Township was $821,000 in October 2024, up 18.2% from last year, and the median price per square foot was $304.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $295K | $322.5K | +9.3% |
| 2 Bedrooms | $508K | $595K | +17.1% |
| 3 Bedrooms | $630K | $655K | +4.0% |
| 4 Bedrooms | $800K | $890K | +11.3% |
| 5+ Bedrooms | $1.0M | $1.1M | +10.8% |
Summary: Montville Township housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.3%, 2 bedroom homes increased by 17.1%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 11.3%, and 5+ bedroom homes increased by 10.8%.
Median Sold Price Compared To Nearby Cities
| Lake Hiawatha | $390.5K | $490K | +25.5% |
| Montville Township | $694.5K | $821K | +18.2% |
| Montville | $661K | $763K | +15.4% |
| Fairfield Township | $640K | $715K | +11.7% |
Housing Supply in Montville Township, NJ
How many homes are available in Montville Township, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 69 | 73 | +5.8% |
Summary: The Montville Township real estate market had 73 homes for sale in October 2024, a 5.8% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 4 | +300.0% |
| 2 Bedrooms | 6 | 7 | +16.7% |
| 3 Bedrooms | 16 | 20 | +25.0% |
| 4 Bedrooms | 20 | 18 | -10.0% |
| 5+ Bedrooms | 26 | 24 | -7.7% |
Summary: The Montville Township housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 300%, 2 bedroom homes increased by 16.7%, 3 bedroom homes increased by 25%, 4 bedroom homes decreased by 10%, and 5+ bedroom homes decreased by 7.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 16 | 12 | -25.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Montville Township, you could pay more than the asking price. 83.3% of homes here sold above asking price last month.
Summary: A total of 12 homes were sold or pending in Montville Township in October 2024, down by 25.0% month-over-month. Of the 12 sold homes, 17% were sold under asking, 0% were sold at asking, and 83% were sold over asking.
Days on Market for Montville Township, NJ
How long does it take to sell a home in Montville Township, NJ?
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Montville Township are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 12 homes were sold in Montville Township; 8% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
