$10,000 Closing Credit*
$885,000
4 Beds
•3 Full Baths, 1 Partial
Listing Office: COMPASS NEW JERSEY, LLC
Is Mountain Lakes, 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, Mountain Lakes has remained a Seller's Market.
Key Takeaway
Mountain Lakes is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Mountain Lakes, NJ
How much do homes in Mountain Lakes, NJ cost?
Median Sold Price
$1,100,000
-
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$146,500(+15.4%)
Key Takeaway
Homes in Mountain Lakes have sold for 15.4% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $610K | $595K | -2.5% |
| 3 Bedrooms | $780K | $824K | +5.6% |
| 4 Bedrooms | $1.0M | $875K | -18.2% |
| 5+ Bedrooms | $1.2M | $1.4M | +15.2% |
Summary: Mountain Lakes housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 2.5%, 3 bedroom homes increased by 5.6%, 4 bedroom homes decreased by 18.2%, and 5+ bedroom homes increased by 15.2%.
Median Sold Price Compared To Nearby Cities
| Parsippany | $600K | $701.5K | +16.9% |
| Parsippany-Troy Hills Township | $564.5K | $655K | +16.0% |
| Mountain Lakes | $953.5K | $1.1M | +15.4% |
| Boonton | $607K | $660K | +8.7% |
| Denville | $580K | $589K | +1.6% |
Housing Supply in Mountain Lakes, NJ
How many homes are available in Mountain Lakes, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 16 | 15 | -6.3% |
Summary: The Mountain Lakes real estate market had 15 homes for sale in October 2024, a 6.3% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 1 | 3 | +200.0% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 13 | 10 | -23.1% |
Summary: The Mountain Lakes 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 remained the same, 3 bedroom homes increased by 200%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 23.1%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 5 | 4 | -20.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Mountain Lakes, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Mountain Lakes in October 2024, down by 20.0% month-over-month. Of the 4 sold homes, 75% were sold under asking, 0% were sold at asking, and 25% were sold over asking.
Days on Market for Mountain Lakes, NJ
We’re sorry, we don't have information for this market at the moment
