$9,488 Closing Credit*
$799,000
3 Beds
•1 Full Bath, 1 Partial
Listing Office: GARABEDIAN REALTY GROUP
Is New Providence, 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, New Providence has remained a Seller's Market.
Key Takeaway
New Providence is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in New Providence, NJ
How much do homes in New Providence, NJ cost?
Median Sold Price
$880,000
$481/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$81,000(+10.1%)
Key Takeaway
Homes in New Providence have sold for 10.1% more than they did a year ago.
Summary: The median home sold price in New Providence was $880,000 in October 2024, up 10.1% from last year, and the median price per square foot was $481.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $601.5K | $607K | +0.9% |
| 3 Bedrooms | $687.5K | $800K | +16.4% |
| 4 Bedrooms | $845K | $982.5K | +16.3% |
| 5+ Bedrooms | $1.0M | $1.4M | +41.0% |
Summary: New Providence 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 increased by 0.9%, 3 bedroom homes increased by 16.4%, 4 bedroom homes increased by 16.3%, and 5+ bedroom homes increased by 41%.
Median Sold Price Compared To Nearby Cities
| Berkeley Heights Township | $725K | $817.5K | +12.8% |
| Berkeley Heights | $720.7K | $812K | +12.7% |
| Summit | $1.1M | $1.2M | +12.2% |
| New Providence | $799K | $880K | +10.1% |
| Chatham Township | $1.0M | $1.1M | +5.8% |
Housing Supply in New Providence, NJ
How many homes are available in New Providence, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 31 | 37 | +19.4% |
Summary: The New Providence real estate market had 37 homes for sale in October 2024, a 19.4% increase 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 | 5 | 4 | -20.0% |
| 3 Bedrooms | 10 | 14 | +40.0% |
| 4 Bedrooms | 10 | 10 | 0.0% |
| 5+ Bedrooms | 6 | 9 | +50.0% |
Summary: The New Providence 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 decreased by 20%, 3 bedroom homes increased by 40%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 6 | 11 | +83.3% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in New Providence, you could pay more than the asking price. 90.9% of homes here sold above asking price last month.
Summary: A total of 11 homes were sold or pending in New Providence in October 2024, up by 83.3% month-over-month. Of the 11 sold homes, 0% were sold under asking, 9% were sold at asking, and 91% were sold over asking.
Days on Market for New Providence, NJ
We’re sorry, we don't have information for this market at the moment
